SunGard has released a new version of FastVal, its independent valuation service for vanilla cash and complex structured products and OTC derivatives. SunGards FastVal 3.0 provides financial institutions with transparency of the models and underlying market data used in the valuation, as well as enhanced Greeks, greater functionality in the running of intra-day valuations, and coverage of market data across a multitude of securities. The solution is delivered on an application service provider (ASP) basis.
Increasing investor demand for more independent and transparent valuation of their investments is driving financial institutions to command greater confidence in the models and their underlying calculations and data.
SunGards FastVal 3.0 gives access to detailed information on the models, the calibration figures involved, and the data series used down to each individual data point. By capturing continuous data feeds from exchanges, brokers and other data vendors worldwide, FastVal produces valuations when customers need them using high quality data input for models. The solution also helps firms alleviate the challenges of data collection, cleansing and storage operations. In addition, institutions can now obtain independent valuations on their positions up to four times a day. FastVal 3.0 also provides a range of Greeks to support risk management, helping customers gain greater clarity on the conditions driving the value of their portfolios.
Regulators, auditors, investors, fiduciaries and senior managers are all demanding that the prices of portfolio assets are justified by rational and consistent pricing and valuation processes, as well as any supporting market and security data, with an eye toward conflict of interest issues, says John Jay, senior analyst at Aite Group. Clearly there is a need for technology solutions that can help firms meet these demands quickly and efficiently.
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