Commerzbank Selects SunGard's Credient Analytics.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 5, 2003 Credient Analytics to provide Monte Carlo Simulation Monte Carlo Simulation A problem solving technique used to approximate the probability of certain outcomes by running multiple trial runs, called simulations, using random variables. for investment banking credit risk exposure to enhance compliance with German regulatory requirements 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 Commerzbank has selected Credient Analytics. Developed in conjunction with Oxford University, Credient Analytics is the credit analytics component of the Credient service and can be implemented as a stand-alone solution. It will provide Commerzbank with exposure data for its global, real-time view of the bank's investment banking cross-asset credit exposure and will further enhance the bank's ability to meet stringent German regulatory requirements. Frankfurt-based Commerzbank is one of Germany's - and Europe's - leading private sector banks. With consolidated total assets of almost Euro 500 billion, Commerzbank serves roughly 6 million customers. German banks currently face strict credit risk regulatory requirements under the MAH See ampere-hour. and MAK Mak Falstaffian figure; categorically maintains his innocence. [Br. Lit.: The Second Shepherds’ Play] See : Deceit Mak sheep stealer succeeds by waiting till the shepherds fall asleep. [Br. Lit. standards driven by the emerging Basel II Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. The purpose of Basel II is to create an international standard that banking regulators can use when creating regulations accord. Such mandates stipulate that banks not only assess credit risk across a wide array of portfolios, but also produce complex credit risk simulations in line with each bank's level of trading sophistication so·phis·ti·cate v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates v.tr. 1. To cause to become less natural, especially to make less naive and more worldly. 2. . Commerzbank's credit risk management will use Credient Analytics to expand the capabilities of its credit management methodologies. Credient Analytics will help calculate and aggregate risk exposures across a wide array of asset classes for all derivatives portfolios in real-time. This consolidated view will help Commerzbank to better manage risk strategically across the entire investment banking division. Markus Rumpel, senior vice president and head of investment banking credit, Commerzbank, said, "Because Commerzbank's trading activities are very sophisticated, we needed a solution that could measure portfolio effects on potential exposures across many different asset classes in real time. It also had to be robust, reliable and implemented quickly. Credient Analytics was an excellent solution that met these requirements." Steve Husk husk (husk) an outer covering or shell, as of some fruits and seeds. psyllium husk the cleaned, dried seed coat from the seeds of Plantago , president of SunGard's Trading and Risk 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, "Commerzbank wanted to get up and running quickly. One of the benefits of Credient Analytics is a very short implementation time. The solution overlays any infrastructure quite easily, therefore, clients can achieve faster time to value." Credient Analytics can be implemented as a stand-alone application of the Credient solution and has two modes of operation: a fast implementation of a Monte Carlo Monte Carlo (môNtā` kärlō`), town (1982 pop. 13,150), principality of Monaco, on the Mediterranean Sea and the French Riviera. engine; and MC2, a proprietary analytic approximation for portfolio exposure variation. Additional modules to extend the techniques used to cover credit loss and capital calculations are currently in development. About Commerzbank With consolidated total assets of almost 500 billion euros, Commerzbank, based in Frankfurt am Main and founded in 1870, is one of Germany's - and Europe's - leading private-sector banks. Some 37,000 employees, including 7,900 abroad, serve roughly 6 million customers, providing Retail Banking, Asset Management, Corporate and Investment Banking. Apart from the parent bank, Commerzbank AG, the Group consists of numerous subsidiaries in Germany and around the globe. 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 900 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 financial institutions, government agencies and corporations of every size, geographical reach and operational complexity. SunGard Trading and Risk Systems also offers systems integration, project management and consulting services. About SunGard SunGard is a global leader in integrated IT solutions for financial services. SunGard is also the pioneer and leading provider of information availability services. SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services institutions. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenues of more than $2 billion. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo and Credient 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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