US hedge fund Clarksdale Capital is using SunGard’s MicroHedge on a Software-as-a-Service basis for real-time trading, pricing and firm-wide risk management across equities, indices and futures. MicroHedge helps Clarksdale Capital’s event volatility traders to identify opportunities and high priority positions on one screen, evaluate risk across entire portfolios, and execute trades. As a hosted solution, it also helps Clarksdale to meet its time-to-market needs and to reduce infrastructure costs.
Ali Saadatnezhadi, managing director of Clarksdale Capital, said, “SunGard’s MicroHedge provides us with a powerful and reliable trading and risk solution. It was fast to implement and our traders were able to quickly and easily get up to speed on it. MicroHedge provides the real-time risk management and volatility skew analysis our traders need to help locate and prioritize opportunities. With the hosted solution, we have been able to reduce infrastructure costs in supporting market data feeds, related communication expenses and IT staff that would be needed to manage the system in-house. MicroHedge’s internet-based delivery platform offers further ease of access from anywhere, providing our end-users with great flexibility.”
Tuesday, July 17, 2007
Loans, Credit and Asset Management Overview
The BSP extends discounts, loans and advances to banking institutions in order to influence the volume of credit consistent with objective of price stability. It also grants loans or advances to banking institutions in precarious financial condition or under serious financial pressures, subject to certain conditions.
When availing of the loan facilities of the BSP, private banks assign to BSP their receivables including the collaterals. Upon failure of these banks or their borrowers to pay their loans, the BSP forecloses these real properties. Banks also pay their loans with properties under a dacion en pago agreement. As such, the BSP has acquired assets which it administers, preserves and disposes properly.
When availing of the loan facilities of the BSP, private banks assign to BSP their receivables including the collaterals. Upon failure of these banks or their borrowers to pay their loans, the BSP forecloses these real properties. Banks also pay their loans with properties under a dacion en pago agreement. As such, the BSP has acquired assets which it administers, preserves and disposes properly.
Faster payments plan hits the skids
In an embarrassing move, the industry has admitted that it will not be able to develop the proposed Faster Payment system in time for implementation this year, and the scope of the project will now have to be changed to accommodate growing use of internet and phone-generated funds transfers.
Industry body APACS presented the decision as an “update on its objectives to deliver a new faster payments system in the UK and changes to the cheque clearing processes which will provide certainty and increased transparency for customers accepting cheques”.
Announcing the decision to restructure the project, Paul Smee, APACS chief executive, said, "The UK banking industry is disappointed that we won't be able to deliver the new faster payments system as quickly as we had planned, but there is no room for error when launching a system which forms part of the UK’s economic infrastructure. Clearly, it is more important to make sure it is done with our total confidence than rushed to meet a self-imposed delivery date. This is a huge project; the investment by UK banks in the central system and in adapting their own systems has been high and is continuing; the new service to be delivered in 2008 is ambitious, innovative and exciting for users."
APACs said that the testing of the service “has proved more complex and time-consuming than originally expected”, leading to the delay A “thorough re-plan is now being undertaken”, it said, adding that a revised launch date will be decided on by mid-August.
Industry body APACS presented the decision as an “update on its objectives to deliver a new faster payments system in the UK and changes to the cheque clearing processes which will provide certainty and increased transparency for customers accepting cheques”.
Announcing the decision to restructure the project, Paul Smee, APACS chief executive, said, "The UK banking industry is disappointed that we won't be able to deliver the new faster payments system as quickly as we had planned, but there is no room for error when launching a system which forms part of the UK’s economic infrastructure. Clearly, it is more important to make sure it is done with our total confidence than rushed to meet a self-imposed delivery date. This is a huge project; the investment by UK banks in the central system and in adapting their own systems has been high and is continuing; the new service to be delivered in 2008 is ambitious, innovative and exciting for users."
APACs said that the testing of the service “has proved more complex and time-consuming than originally expected”, leading to the delay A “thorough re-plan is now being undertaken”, it said, adding that a revised launch date will be decided on by mid-August.
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