Algorithmics awarded patent for innovative Generator Libraries - the building blocks of Algorithmics' risk solutions

Toronto/London - September 11, 2008 -

Algorithmics, the world's leading provider of risk solutions, has been issued a patent for its "Generator Libraries", the innovative building blocks that Algorithmics uses as the code base for its risk solutions. The patent has been awarded for the Generator's innovative design and structure which allows for extensibility and consistency in Algorithmics' underlying code base. The patent recognizes the value of Algorithmics' sustainable and reusable way of building risk solutions and reflects the firm's commitment to research and innovation. Algorithmics' clients will ultimately benefit from risk solutions that are rapidly extensible, flexible and easy to support and maintain.

The Generator Libraries now serve as the essential code base underlying a variety of analytic components within the Algorithmics family of risk solutions. For example, the Generators form the cornerstone for both the Algorithmics' Scenario Engine (ASE) and its Portfolio Credit Risk Engine (PCRE) - two very different risk components doing very different things, but ultimately built from the same risk building blocks. By using a consistent and extensible underlying code base, Algorithmics can build robust applications very quickly with a short time to market.

Ben De Prisco, Senior Vice President of Research and Financial Engineering, said: "This patent is testament to Algorithmics' competitive advantage in building valuation and simulation libraries using a reusable and leveragable code base. By developing these Generator Libraries we have distilled our risk management calculations and algorithms down to a molecular level and this patent is for the design of those molecules. Re-using these molecules in new and innovative ways means we can develop new risk solutions faster, reducing our time to market while still ensuring the solutions perform with the utmost of speed, are customizable, and fit-for-purpose."

Michael Zerbs, President and COO, Algorithmics, added: "This latest patent is yet another example of our commitment to research and innovation in risk management technology and further extends our patent portfolio. We will continue to invest in cutting-edge research to ensure we provide risk solutions that help our clients create value."

For further information please contact:
Heather Smith, Senior Communications Manager, Algorithmics (UK) Ltd
Direct line: +44 (0) 20 7392 5820 Mobile: +44 (0) 7515 974223
E-mail: Heather.smith@algorithmics.com

Notes to Editors:

Algorithmics is the world's leading provider of risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group. www.algorithmics.com

ASE is a component of all of Algorithmics analytics solutions including Algo Market Analytics, Algo ALM, Algo Credit Exposure, Algo Risk, Algo Risk Service and Algo eTreasury Credit. www.algorithmics.com/EN/services/

PCRE is a component of Algo Credit Economic Capital which incorporates all credit exposures across the enterprise, including banking book and trading book activities, complex financial products, credit risk mitigation and hedging. www.algorithmics.com/EN/services/10-prodserv.cfm

It also forms the basis of Algo Credit Pillar 2 which provides an enterprise-wide, low cost, fast track approach to achieving Pillar 2 compliance, leveraging banks' Pillar 1 data infrastructure.

Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings' global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.

The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of risk solutions.

The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France. For additional information, please visit www.fitchratings.com, www.algorithmics.com and www.fimalac.com  

© 2008 Algorithmics Software LLC. All rights reserved. ALGO, ALGORITHMICS, Ai & design, ALGORITHMICS & Ai & design, KNOW YOUR RISK, MARK-TO-FUTURE, RISKWATCH, ALGO ALM, ALGO COLLATERAL, ALGO CREDIT ADMINISTRATOR, ALGO CREDIT DATA SERVICES, ALGO CREDIT ECONOMIC CAPITAL, ALGO CREDIT EXPOSURE, ALGO CREDIT LIMITS, ALGO CREDIT REGULATORY CAPITAL, ALGO CREDITVANTAGE, ALGO ETREASURY CREDIT, ALGO FIRST, ALGO MARKET ANALYTICS, ALGO OPDATA, ALGO OPVAR, ALGO RECONCILIATION, ALGO RISK, ALGO RISK SERVICE, and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.