Bank of Bermuda selects Reech FastVal for derivatives valuation

The application enables fund administrators to provide independent, accurate and speedy computations of the fair-value and first-order 'Greeks' of portfolios containing any product from cash equities to complex exotics, said Reech. It will be delivered to Bank of Bermuda via the web on an application service provider (ASP).

Chris Wilcockson, head of client services at Bank of Bermuda GFS, said the bank requires independent valuations for the 2,800 funds under its administration. The bank said it selected Reech FastVal because it conducts independent pricing for a wide range of instruments and has the flexibility to easily add new instrument types. “The ASP model best suited our needs, as it enables costs to be scaled to our growth. Its full service capability also helps us reduce operating risk and improve efficiencies while providing full process independence for our clients," said Wilcockson.

US technology company SunGard Trading and Risk Systems acquired Reech Capital, a London-based risk pricing, validation and portfolio valuation technology company, in May.

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At a webinar in association with capital markets technology provider Numerix, panellists discuss the potential for increased adoption of the public cloud to boost investment performance, its impact on risk management and overcoming barriers to…

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