By Tim Clark, Wall Street & Technology
Memphis, Tenn.-based financial services provider FTN Financial Group (FTN) has selected SunGard's Adaptiv to manage its OTC derivatives business activities with its clients.FTN will utilize Adaptiv for derivatives deal capture, valuation and risk management through to settlements, G/L and confirmations. Adaptiv's reporting also will help FTN closely analyze its portfolios, while testing and monitoring its investment strategies at all levels and across all products.
"SunGard's Adaptiv was a logical choice for us," said Bill Buck, head of operations, FTN, in a release. "It will provide the different business areas with a direct fit solution. It will help enable us to trade and process in the most time- and cost-effective way, and will be a key to supporting our strong growth in derivatives."
In addition, Adaptiv's technology infrastructure will ensure that FTN's front- and back-office functions will operate independently without the need for synchronized processing functions or data transfer. As a result, specific processes to support unique trade types can be applied rapidly.
FTN Financial Group has offices nationwide and is a division of First Tennessee Bank National Assoc., the primary bank subsidiary of First Horizon National Corporation.