ABN Amro Bank and Infinity, a SunGard Company, have signed a multi-million dollar deal to extend the use of Infinity Derivatives to additional ABN Amro sites, and integrate the bank’s proprietary functionality for trading, risk management and operations into the Infinity Derivatives main front, middle and back office code lines.
Infinity applications are currently rolled out to more than 300 of ABN Amro’s Global Trading Unit.
Robert van Paridon, chairman of ABN Amro, says that Infinity has given its traders a competitive edge in the development of the bank’s proprietary and customer-based interest rate derivatives business.
ABN currently uses Infinity’s front, middle and back office applications and technology platform to manage interest rate derivatives transactions. The front office system is used for deal capture, analytics, positions and hedge reports, which reflect both current exposures and hedge transactions.
Under the new agreement, ABN’s traders will be able to develop and implement new products straight into their trading system. For example, Infinity’s FinEx is a flexible module that permits interoperability between Microsoft Excel, which may be saved as a trade in the Infinity Data Model. Analytics may also be added to the spreadsheet, which can be accessed by Infinity’s risk management applications.