Published On: Tue, Dec 1st, 2009

Daiwa Securities SMBC Selects Syncova Optima Platform for Synthetic Prime Broker Margining

OPTIMA/Broker to provide flexible, integrated, risk based margining for clients Syncova Solutions, the specialist provider of margining and financing solutions to the Prime Broker and Hedge Fund markets, has signed a new client in Daiwa Securities SMBC Europe, the European arm of leading Japanese investment bank Daiwa Securities SMBC Co Ltd. The firm has deployed Syncova’s OPTIMA/Broker platform, with a global license, for its expanding Synthetic Prime Brokerage business line.

Daiwa will use the flexibility of the Syncova OPTIMA/Broker platform, to deliver enhanced risk based margining and full cross asset margining of its client’s Synthetic Prime Brokerage portfolio and integration to in-house product lines. Additionally, Daiwa clients utilising the Syncova OPTIMA/Funds platform will benefit from improved flexibility and transparency.

Richard Smither, Head of Structured Portfolio Trading at Daiwa SMBC Europe said: “In a rapidly evolving market, following market events of 2008, one of the key challenges in expanding our product offering at Daiwa is to be able to offer our wide range of clients not only flexibility but full transparency in terms of margin solutions. Syncova’s Optima/Broker allows us to achieve both of these aims without the need to rework or redevelop any of our systems. It has the added benefit that where one of our clients is also using Optima/Fund, we can interface directly without the need for external reports. ”

Liam Huxley, CEO Syncova Solutions added: “We are delighted that Daiwa Securities SMBC Europe has selected OPTIMA/Broker. As the only margin platform designed specifically for Prime Brokers it enables them to leverage and benefit from a powerful and flexible cross margin calculation engine that supports all margin models and methodologies. Unifying all product types via a single platform will enable Daiwa to efficiently offer a best of breed comprehensive margining facility to its clients.”

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