Allianz’s Italian group RAS SpA has selected SunGard’s Reech FastVal and Reech REAL for the valuation of its structured products. The service will help enable RAS’s risk department to report standard, consistent values for its IAS 39 reporting requirements.
“RAS’s financial department decided to find an independent provider to develop and maintain an internal pricing system comparable with industry best practices, in terms of high quality of results, quantitative expertise and sophistication,” says Michele Gaffo, investment and risk strategy director at RAS SpA. “The system developed internally is based on SunGard’s Reech libraries. In this way we are able to focus on flexibility, customisation and integration with internal processes and legacy accounting systems.”
“RAS was looking for a transparent and innovative solution,” says Samuel Hard, senior sales manager at SunGard’s Reech business unit. “It selected Reech because of its flexibility to adapt as the industry develops and more complex products evolve. Through the use of our generic models, which facilitate the pricing of any product, SunGard’s Reech will help provide RAS with a cost-effective, long-term solution.”