Algorithmics Opens its Industry-Leading Risk Management Platform: Mark-to-Future API Supports Innovation and Enhances Value

Toronto, Canada - November 10, 2005 -

Algorithmics Incorporated, a recognized leader in enterprise risk management, today announced at its Algo Capital and Credit Forum in London, that it would be opening its award-winning risk management framework, Mark-to-Future, to allow the incorporation of client-developed or partner simulation engines through an application program interface (API).

"Making Algorithmics' industry leading risk architecture more open and more scalable is a fundamental part of our strategy," said Michael Zerbs, President and Chief Operating Officer at Algorithmics. "Opening the Mark-to-Future interface unlocks significant value for our clients, particularly within the front office where product innovation is constant. The Mark-to-Future API consolidates heterogeneous simulation engines in a consistent manner into Algo Suite, eliminating the need for any separate supporting infrastructure. This supports front-office innovation and reduces both integration and ownership costs."

At the core of Algo Suite, Algorithmics' suite of risk management solutions, Mark-to-Future is an asset class agnostic and extensible simulation framework for managing financial risk. Mark-to-Future enables financial institutions to integrate their market and credit risk by incorporating the passage of time, the evolution of risk scenarios, and the dynamics of multiple portfolio holdings.

The Mark-to-Future API, to be available in Algo Suite 4.5.2 in January 2006, will enable clients to easily include both internally-built and partner-provided financial instrument pricing engines along side Algorithmics' simulation engines within Algo Suite. The ability to incorporate external simulation engines will allow clients to better leverage existing systems and to fit best-of-breed alternatives into an overall risk architecture provided and supported by Algorithmics.

An Open MtF Partner Program has been established for companies who specialize in pricing models and desire to sell their models to Algorithmics' extensive client base. Companies who join the partner program will receive a tool kit, training and support, and will participate in joint marketing initiatives.

About Algorithmics
Founded in 1989, Algorithmics is a recognized leader in enterprise risk management. Following its acquisition by the Fitch Group in January 2005, Algorithmics is the world's leading provider of enterprise risk management solutions and services that enable financial institutions to effectively understand and manage their financial risk. Algorithmics has over 200 clients, including more than 60 of the 100 largest financial institutions in the world. Algorithmics was recently recognized as the dominant enterprise risk solution provider in market, credit and operational risk in Risk Magazine's 2004 Technology Rankings. www.algorithmics.com

About Fitch Group
Fitch Group is the parent company of Fitch Ratings, a leading global rating agency committed to providing the world's credit markets with accurate, timely and prospective credit opinions. Fitch Ratings is dual-headquartered in New York and London, operating offices and joint ventures in more than 50 locations and covering entities in more than 80 countries. Fitch Group is a wholly owned subsidiary of Fimalac, S.A., an international business support services group listed and headquartered in Paris, France.

© 2005 ALGO, ALGORITHMICS, AI & design, MARK-TO-FUTURE, ALGO CAPITAL, ALGO COLLATERAL, ALGO CREDIT, ALGO MARKET, ALGO OPVANTAGE, ALGO RISK, and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.

Press Contact

Heather Smith
Senior Communications Manager
Tel:  +44 (0)20 7392 5820
Mobile: +44 (0) 7515 974 223
Fax: +44 (0)20 7395 5701
email: Heather.Smith@algorithmics.com