Santander Unit Uses SunGard OTC Service

Santander Group’s Italian private banking division, Santander Private Banking, has gone live on SunGard’s independent valuation service for over-the-counter (OTC) derivatives, Finextra reports. The service, called FastVal, will help Santander increase its operational efficiency, when valuing its portfolios of non-liquid instruments.

FastVal’s risk and compliance departments will utilize the solution to help meet the Consob requirements on the valuation of illiquid instruments and OTC derivatives. The service, which will help the bank manage the increasing complexity of derivatives pricing, will search data used in the valuation process to demonstrate how each specific valuation was determined.

Click here for the story from Finextra.