PARIS (HedgeWorld.com)–Equalt Alternative Asset Management picked the SunGard’s Reech Automatic Derivatives Pricer and Reech Analytics Library to price complex equity correlation products.
Reech ADEP is used within Excel at Equalt to help price an alternative investment management program that totals EUR950 million (US$1.1 billion). The firm is the alternative investment branch of Credit Agricole Indosuez and manages alternative and structured funds for institutions such as banks, insurance companies, and funds of funds in France, elsewhere in Europe and the Far East.
The ADEP product is essentially a proprietary language that aims to describe any complicated financial product and instantly provide the value and risk management parameters for any portfolio.
Equalt also uses the Reech REAL product to run Monte Carlo simulations using market data and other information such as correlations. According to a news release, the systems meet the need for independent valuations that are strongly “reaffirmed” by regulatory bodies.
Officials at the alternative investment firm were looking for a sophisticated equity correlation offering that could be flexible in handling new products, according to a statement from Laurent Grisard, head of structured fund management at Equalt.