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Technology Stocks : Sungard Data Systems (NYSE:SDS)

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To: JakeStraw who wrote (94)12/5/2001 3:00:31 PM
From: JakeStraw  Read Replies (1) of 131
CECA Selects SunGard's Panorama to Support Integrated Market and Credit Risk Management
Panorama to Support 41 Member Savings Banks
NEW YORK, Dec. 5 /PRNewswire/ -- SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), today announced that the Confederacion Espanola de Cajas de Ahorros (CECA), the Spanish association of savings banks, has selected Panorama to provide market and credit risk management to its members.

Panorama will form the cornerstone of Ceca's market and credit risk management function for treasury and investment banking activities as part of its Global Risk Control Sectorial Project. The project will include the full range of risk types and business lines of the Spanish savings banks. The collection of savings banks accounts for more than 42% of total lending by banks in Spain, and 53% of deposits and mortgage lending.

CECA will install and maintain Panorama at its Madrid headquarters, and 36 of its member banks will access Panorama remotely. Five more will install Panorama locally to manage the risks of their higher volume portfolios of complex derivatives. All banks will use Panorama to support a wide range of asset classes, including fixed income and equity derivatives. SunGard will also work with CECA to add support for credit derivatives to Panorama.

Javier de la Cruz, sub-director for risk control and strategy at CECA, said, ``We believe that as our members continue to increase their competitiveness and market share in Spain, risk management is a coherent and harmonious addition to profitability management and optimised solvency management as main concerns for sound management. We selected Panorama to form a fundamental part of this global risk infrastructure because of its robust analytics, proven reliability and the ability of its flexible and extensible architecture to support our planned growth. Additionally, we know from the experience of other Spanish Panorama clients that we can rely on SunGard's local expertise, industry knowledge and high level of service.''

Panorama's data management capability is supported by a robust architecture that enables the distribution of risk services to 41 member savings banks, while allowing for full separation of data between banks. Panorama's comprehensive set of development tools will allow CECA to develop new functionality specific to its market, such as regulatory reports and measures for risk-adjusted returns.

Gavin Lavelle, president of SunGard's Panorama operating unit, said, ``We are delighted and committed to support the growth efforts of Spanish savings banks, as Spain becomes an increasingly significant force in the global financial markets, by providing our robust, integrated trading and risk management solutions and local representation.''

About CECA

In 1928, on an initiative of the Federation of Basque-Navarre Savings Banks, the Spanish Confederation of Savings Banks (CECA) was constituted, with the objective of uniting the forces of its associated members and acting as a representative body in various national and international forums. At present, CECA is made up of 46 Spanish Savings Banks and in addition to being an association is an approved credit institution. CECA supports Savings Banks in a dual role, on the one hand as an association and, on the other, as a supplier of specialized services.

As an association, the CECA:

Represents the Savings Banks with regard to public powers and in the international environment.
Acts as a common Study Centre for all matters affecting the Savings Banks.
Collaborates with the financial authorities.
Acts as an operating Co-ordination Centre for information, advising and communication and marketing.
As a service supplier, the CECA offers the Savings Banks a wide range of associated operating, financial and technological services.
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