Algorithmics wins major risk industry award: Risk Software Product of the Year Award 2009

Toronto, London - January 16, 2009 -

Algorithmics is proud to announce that it has won the Risk Software Product of the Year Award 2009 for Algo Real-Time Credit Engine at Risk Magazine's annual Risk Awards. Now in their sixth year the Risk Awards recognize excellence and innovation in the fast-changing risk management and over-the-counter derivatives businesses.

Michael Zerbs, President and COO, Algorithmics, commented: "Algorithmics is honored to win the Risk Software Product of the Year Award 2009 for Algo Real-Time Credit Engine. Winning this award from such a respected risk publication means a great deal to us - as it is recognition of the quality and innovation of not only this product but of Algorithmics' commitment to continuing innovation in risk management for our clients."

Algo Real-Time Credit Engine is designed to provide a real-time view of the credit and settlement exposure of a bank's counterparties using the gold standard of exposure measurement - full multi-step Monte Carlo accounting for portfolio diversification, netting, and collateral. It delivers scalable, real-time pre-deal checking, intraday reporting on the credit status of a counterparty, and real-time feeds to trading desks. This means that global institutions now have an opportunity to cost-effectively perform full risk simulations for their largest counterparties in minutes instead of hours and pre-deal, what-if profiles for vanilla and exotic derivatives at the transaction, portfolio and counterparty levels can be completed in milli- or sub-seconds.*

Risk Magazine has recognized Algo Real-Time Credit Engine for introducing consistent risk management to the front and middle office and for the speed of its risk calculations. The product's performance has also been benchmarked recently in conjunction with Intel, achieving 1 million trades, 5,000 scenarios, 125 time steps in less than 2 hours on a single dual-CPU server based on Intel® processors.

In Risk Magazine's view, "A system like Algo Real Time Credit Engine, with its sub-second counterparty credit exposure calculation capabilities, is timely in an era where regulators have made it clear they expect banks to be able to calculate their exposure to a counterparty in a couple of hours, and it sets a new benchmark for the speed of risk measurement in the front office."

Neil Bartlett, CTO, Algorithmics, added: "Receiving the Software Product of the Year accolade for our award winning real-time performance is the culmination of four years' work developing this innovative product. For our clients, the commercial impact of our breakthrough improvements in computational performance promise to be twofold: lower capital and operating costs and, for the first time, very sophisticated risk assessment available real-time and pre-deal."

Dr Michael Zerbs concluded: "We will continue our commitment to innovation and R&D, something for which we, together with our clients, have won several prestigious awards over the last 12 months. The Algo Real-Time Credit Engine is a great example of an innovative solution that has been developed in a strong and ongoing partnership with clients. We are proud that our partnerships with our clients often go far beyond the initial implementation to ensure their risk management solutions provide tangible business benefits and evolve with their business needs and challenges."

Algorithmics was recently recognized for enterprise-wide risk management across all risk types in Risk Magazine's 2008 Risk Technology Rankings, receiving more first places in the risk categories than any other vendor. For more information about Algorithmics' award winning and patented solutions, visit: http://www.algorithmics.com

For information on the recent Intel benchmark see the press release at:
http://www.algorithmics.com/EN/news/pressreleases/272-press.cfm

* In demanding e-commerce environments real-time credit checks have been measured at less than 10 milli-seconds. This response includes the time it takes to complete the 'full round trip', which begins the moment a trade request is made, and includes the calculation of new credit exposures, the aggregation of exposures within a counterparty hierarchy, a check of all applicable limits, including settlement limits, and the delivery of results back to the trader or e-commerce platform. Algo Real-Time Credit Engine's response time is 10 milli-seconds.

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:

Risk Magazine
Risk is the world's leading financial risk management magazine. Since its launch in 1987, Risk has grown with the markets. Risk continues to be the only magazine truly dedicated to the business of all aspects of financial risk management and the global derivatives markets, taking complex material and delivering it in an easily-digestible style.

The Risk Awards 2009
Now in their sixth year the Risk Awards recognize excellence and innovation in the fast-changing risk management and over-the-counter derivatives businesses.

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

Algo Real-Time Credit Engine enables banks to perform the highest quality exposure calculations and pre-trade credit checks with virtually no compromise in trade execution time. Designed to provide a real-time view of the credit exposure and settlement exposure of a bank's counterparties, Algo Real-Time Credit Engine delivers scalable, real-time pre-deal checking, intraday reporting on the credit status of a counterparty, and real time feeds to trading desks.

Algo Real-Time Credit Engine is a multi-asset system that interfaces directly with a bank's e-commerce platforms and other front office systems to provide real-time pre-trade credit checking across capital markets. Interest rate, equity, foreign exchange, credit, and commodity products are all supported for an extremely broad range of simple and complex products.

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 enterprise 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.