Greek Bank Live with Adaptiv

OPERATIONS AND STP

ATHENS—The National Bank of Greece (NGB), based in Athens, is now live with Sun Gard Adaptiv Operations, a risk management and processing solution, vendor officials say.

The deal, which saw Adaptiv go live in the last weeks of 2005, is a precursor to other deals expected in 2006, says Mike Hofer, regional sales manager for Sun Gard's Adaptiv. "More SunGard products will follow this year," Hofer says.

NBG is using Adaptiv Operations to manage its portfolio of over-the-counter (OTC) derivatives with an integrated framework for front-to-back-office processing. This allows NBGto increase auto mation, streamline its operations and improve workflow efficiency. Adaptiv Operations allows NBG to manage large volume vanilla trades, while monitoring all transactions in real-time, Hofer says.

The deployment started in the middle of last year, after NBG contacted SunGard at the end of 2004 through an unnamed partner of the London-based vendor. "Due to our market presence and strong partner in Greece, NBG felt confident approaching SunGard for a technology solution," Hofer says.

"The solution took six months to implement," Hofer says. "The rapid deployment was possible as all the plain vanilla products and processes are standard in the Adaptiv solution," he says. "Therefore, relatively small incremental effort was needed to add the exotics NBG required."

A team of SunGard consultants handled the deployment at NBG, "in combination with the client," Hofer says. The client was consulted for the configuration of the system and the development of the interface.

In February, SunGard also implemented its Adaptiv suite of solutions at the China CITIC Bank to handle the front-to-back-office trading of the bank's foreign exchange, money market, fixed income and derivatives businesses.

NBG officials were not available for comment at press time.

Olivier Laurent

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Removal of Chevron spells t-r-o-u-b-l-e for the C-A-T

Citadel Securities and the American Securities Association are suing the SEC to limit the Consolidated Audit Trail, and their case may be aided by the removal of a key piece of the agency’s legislative power earlier this year.

Enough with the ‘Bloomberg Killers’ already

Waters Wrap: Anthony interviews LSEG’s Dean Berry about the Workspace platform, and provides his own thoughts on how that platform and the Terminal have been portrayed over the last few months.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here