AFA Systems, a provider of software to the banking and asset management industries, today announced that Stroud and Swindon Building Society, the largest independent building society in the South West of England, has signed a contract to implement DART+ Pricing, an element of its DART product suite.
Stroud and Swindon selected DART+ Pricing as a stand alone application to increase their front office pricing functionality for Interest Rate Derivatives. The new software complements their existing treasury management system by providing Stroud and Swindon with a real time price discovery system enabling faster and more accurate trade analysis including revaluations. As well as providing initial implementation, AFA Systems will deliver support services on an ongoing basis.
The DART product suite is a range of products and services relating to pricing and risk management, systems development and training for the global derivatives marketplace. It offers an extensive range of instrument coverage, accuracy of information and speed of response necessary to support both the Exchange Traded and OTC global derivatives business.
Henry Umney, AFA Systems said, “We are delighted to be working with Stroud and Swindon and believe their selection of our product validates DART+ Pricing as the unsurpassed software tool for the derivatives marketplace. This contract win demonstrates our ability to tailor solutions to meet the specific requirements of various sized treasury departments and further reflects our commitment to the Building Societies market.”
Commenting on the new software, Terry Jordan, Senior Manager – Treasury, Stroud and Swindon Building Society said, “As a company we decided to invest in DART+ Pricing because of the extensive functionality provided today. We also had the confidence that AFA Systems have a solid structure in place to provide support in the long term.”