Arab Bank Selects SunGard's Panorama for Global Trading, Risk and Limits Management; Global Panorama Installation to Support Users in 20 Countries.Business Editors NEW YORK--(BUSINESS WIRE)--March 7, 2002 SunGard Trading and Risk Systems, an operating group of SunGard (NYSE NYSE See: New York Stock Exchange : SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ), today announced that Arab Bank The Arab Bank, formed in 1930, is a prominent financial institution in the Arab world, with 400 branches and offices in 25 countries.[1] Its parent company is Arab Bank plc incorporated in Amman, Jordan, where its headquarters are also located. , Plc has extended its Panorama implementation to support straight-through, cross-asset trading and dynamic, real-time portfolio and limits risk management. Panorama will be a global solution run from a central server, supporting multiple users in 20 countries across the Middle East, Europe, Americas and Asia-Pacific. Arab Bank has been using Panorama in its London branch since 1999 for trade support and risk management. The success of the London implementation led to the selection of Panorama as to support Arab Bank's global treasury operations, supporting the bank's shift from a multi-local IT and bank treasury strategy to a global strategy. Panorama will be a single front-end dealing and risk management platform for Arab Bank's globally traded capital markets instruments, supporting forex, money market, fixed income and interest rate derivatives An interest rate derivative is a derivative where the underlying asset is the right to pay or receive a (usually notional) amount of money at a given interest rate. The interest rate derivatives market is the largest derivatives market in the world. . Patrick Butler, global treasurer at Arab Bank, said, "Using Panorama as our global solution for bank treasury operations we will be able to plan, implement and measure our global strategies, optimize optimize - optimisation the use and allocation of capital, and enhance controls and internal transparency." Antoine E. Sreih, senior manager at Arab Bank, said, "We selected Panorama to support this global initiative because the system meets our deal-capture and risk-management requirements locally and globally, with an efficient architecture that allows each international business to be hooked up to one central server." Gavin Lavelle, president of SunGard's Panorama operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon , said, "Panorama has proven to be a flexible solution that meets the demands of today's market for real-time desk-level analytics combined with sophisticated enterprise-wide risk management to support a large, global trading organization. We are confident that Panorama's analytics and architecture, and SunGard's reliability and strength, will ensure the continued success of our partnership with Arab Bank." About SunGard Trading and Risk Systems SunGard Trading and Risk Systems provides integrated, enterprise-wide solutions for financial trading, risk management and operations, as well as asset liability management and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against and forecasting. Serving over 500 clients, it offers Web-enabled solutions for achieving straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. , and for managing market, credit and operational risk. Clients include banks, broker/dealers, asset managers, hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" , corporate and government treasuries of every size, geographical reach and operational complexity. For energy companies, SunGard Trading and Risk Systems provides trading, risk management and commodity scheduling software solutions. About SunGard SunGard (NYSE:SDS) is a global leader in integrated IT solutions for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . SunGard is also the pioneer and leading provider of information availability services. With annual revenues of $2 billion, SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services companies. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo and Panorama are trademarks or registered trademarks of SunGard Data Systems Inc. in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. |
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