Dublin-based Hypo Real Estate Bank International has selected Adaptiv Collateral from SunGard Trading and Risk Systems to manage the collateralisation process supporting its derivatives and repo trading activity in 13 countries. Meanwhile, SunGard Futures Systems has signed five German banks to its Octagon IT Services for derivatives processing and accounting.
Hypo Real Estate Bank International will use Adaptiv Collateral to help manage counterparty credit risk and streamline its collateral management operation.
The bank says it needed a collateral management solution to support its plans for increased trading in derivatives and repos. In response to regulatory demand for overall improved credit risk management, control and transparency, the bank also wanted to mitigate credit risk, reduce operational risk, and provide a more comprehensive risk profile of its global trading operation.
In Germany, SunGard Futures Systems' new customers are: Hamburger Sparkasse, Frankfurter Sparkasse, Bankhaus Lampe, Bankhaus Reuschel & Co., and Hauck & Aufhauser Privatbankiers.
They are using Octagon IT Services, an outsourced processing environment for financial institutions participating in derivatives trading in Germany and throughout Central Europe. SunGard says the service was launched in the first quarter of this year to help financial institutions improve operational efficiency, system availability and scalability by reducing costs and reliance on the internal resources required to maintain systems in-house.
Octagon IT Services features a Java-based user interface and includes interfaces to regulatory bodies for reporting purposes, providing institutions with an efficient, single-vendor solution. SunGard says it provides Octagon IT Services with full system backup and recovery using SunGard Availability Services, and comprehensive support services, both located in Germany.