Dexia Fund Services announced today that it has chosen SunGard's Reech FastVal to help it provide independent valuation of its clients' credit default swaps, equity swaps, convertible bonds, inflation products, and interest rate vanilla and exotic derivatives.
Dexia Fund Services, the investment funds administration and custodian services business line of European financial services group Dexia, says the technology will provide an additional value added service and assist the board of directors to comply with new regulations.
Reech FastVal helps fund administrators provide independent, accurate and speedy computations of the fair value of portfolios containing any product from cash equities to complex exotics.
Christophe Bodart, head of product development at DFS Luxembourg, said, ?With Reech FastVal we can publish fund net asset values with maximum transparency and confidence in the valuations we are using for the underlying securities. This enhances our service offering and complies with the new UCIT III regulation regarding independent valuations of OTC products. Also, we like the ASP facet of the service since it allows easy deployment at any location.?