Italian bank Cassa di Risparmio di Firenze (Carifirenze) has automated its over-the-counter (OTC) derivatives processing with the implementation of a back-office processing product from SunGard Trading and Risk Systems, the risk-management systems subsidiary of SunGard.

The implementation of SunGard's Panorama system at Carifirenze includes trade processing, payments, confirmations, general ledger postings and regulatory reporting of OTC interest rate derivatives. The bank operates a dealing room for hedging foreign exchange, interest rate and equity risk, and execution of client-driven derivative business.