WestLB has selected Credient, a credit management system from SunGard Trading and Risk Systems, to monitor exposures across its international trading business. Credient provides tools for portfolio analysis and exposure modeling, as well as global, real-time pre-deal limit checks.
West LB, based in Germany, selected Credient as the center of a new architecture for robust exposure calculation and limit management.
The product's real-time, portfolio-based approach to exposure management will enable WestLB to enhance pre-deal decision-making and provide improved systems transparency.
"This transparency should help us to reduce our portfolio risks through the effective use of netting and diversification," according to Ottmar Bongers, managing director of risk management support and control Group at 350 billion euro WestLB.
SunGard will host Credient in SunGard Availability Services' European data centers, providing a fully resilient business continuity service. It will deliver Credient to user desks throughout WestLB via a Web browser.
Credient contains automatic links to WestLB's dealing systems, including SunGard's Treasury Trader.
The deal illustrates the growing importance of credit risk management, said Steve Husk, president of the Credient/Infinity operating unit. "A modern, portfolio-based approach to credit risk management provides for increased transparency across the organization and greater efficiency."