Socit Gnrale Securities Services (SGSS) has been chosen by the NationalAsset Management Association (NAMA) in Dublin to provide valuation services on different types of derivatives (options, interest rate swaps, swaptions, caps and floors).
NAMA was established by the Irish Government in mid-2009 to acquire the property-related loans and derivatives of certain financial institutions and thereby enable them to cleanse their balance sheets. NAMA has been mandated to optimise the financial returns on these assets.
SGSS also recently completed the migration of all BT Pension Scheme Management’as OTC business onto the SGSS platform. The BT Pension Fund is the largest pension fund in the UK, with assets of around 35 billion. SGSS provides the Fund with middle office, collateral management, pricing and fund administration for OTC trades.
This migration follows the mandate given to SGSS in 2009 for the de-risking of the BT Pension Fund and the operational processing of its OTC platform