SunGard Trading and Risk Systems is unifying its existing systems for buy-side and sell-side institutions under a single technology framework, dubbed Adaptiv.
SunGard says Adaptiv is designed to enable customers to implement technology tailored to their specific needs using a modular, building block approach. The solution can be configured to provide real-time, straight-through trading, portfolio analysis, desk-level risk management and processing, as well as enterprise-wide credit and market risk management.
The new architecture provides portfolio analytics, risk management and real-time global limits via a single Web-based user interface. Existing customers can use the new common trading screens with their existing implementations says the vendor. A single database for trade administration is also available, to manage the core trade life cycle events.
An extensive market data infrastructure has been developed for Adaptiv, says SunGard, enabling customers to re-use the same data and models across trading, market risk and credit risk, reducing the number of market data interfaces required with external providers.
Adaptiv has also been extended so that it sources trades and positions directly from inhouse warehouses and/or front-office systems, in an effort to ease trade reconciliations between multiple trade databases. This should improve front office efficiency and cut the risk of operational errors, says SunGard.
The framework has been further massaged for improved risk management, offering extended credit risk calculations such as the coverage of issuer risk, improved P&L decomposition and more accurate sensitivity measures for non-linear instruments which help traders and risk managers identify risk exposures down to the factor level. New trading functionality for Adaptiv includes a new documentation module, allowing customers to control the issuing of outbound trade messages, like confirmations and Swift messages, via user-defined business rules. Support for local character sets like Mandarin and Cyrillic have also been included.
Don Wood, chief technology officer of SunGard Trading and Risk Systems, says: "Our goal with the Adaptiv framework is to enable customers to seamlessly add new business functionality while leveraging their existing technology infrastructure. Our phased approach to unifying our solutions using the Adaptiv framework assures customers of an easy and distinct migration path."