Swedbank consolidates collateral management activities with Algorithmics

Toronto, Canada - November 11, 2004 -

Algorithmics Incorporated, a world leader in enterprise risk management solutions, today announced that Stockholm-based Swedbank has begun the implementation of Algo Collateral to manage margining requirements across its OTC Derivative and Repo business lines.

Algo Collateral will centralize Swedbank Markets, Swedbank's investment bank unit, OTC derivatives and repo margining activities onto a single platform to increase efficiency and reduce operational costs. "We are very impressed with the openness, flexibility and breadth of functionality in Algo Collateral," said Per Aspegren, Head of Merchant Banking at Swedbank Markets. "Algorithmics demonstrated great responsiveness during the evaluation phase and was able to commit with confidence to our project timescales. We are implementing a solution that is ready to meet all of our present and future requirements."

Algo Collateral is an enterprise solution, dedicated to reducing operational and credit risk, while simultaneously providing cost-effective support throughout the entire collateral management process. Algo Collateral's customizable workflow will allow Swedbank Markets to consolidate collateral information and manage the resultant collateral events and positions. "Algo Collateral's flexible workflow will accurately define and guide the critical operational activities associated with the margining of our OTC Derivative and Repo agreements", continued Per Aspegren.

"Algo Collateral has an outstanding client base around the world with excellent reference sites," says Michael Zerbs, Chief Executive Officer at Algorithmics. "We are excited to begin a new relationship with Swedbank and its growing network of companies. This implementation also expands upon the existing relationship with Swedbank Markets, who is an important user of Algorithmics for market and credit risk since 1999.

About SWEDBANK
Swedbank is Sweden's largest universal bank, with 4.2 million household customers and 225,000 corporate customers in its home market, as well as a market-leading position in the Baltic countries through its Hansabank subsidiary. Swedbank Markets is a unit of Swedbank and comprises its investment banking and merchant banking operations. In addition to operations in Sweden and First Securities in Norway, Swedbank Markets includes the international branches in Oslo, London and New York.

About Algorithmics
Algorithmics Incorporated is the leading provider of enterprise risk management solutions that enable financial institutions to effectively understand and manage their financial risk. Algorithmics' clients include more than 150 of the world's leading financial institutions. Its Algo Suite of enterprise risk management solutions are in use in 31 countries by over 50 of the 100 largest financial institutions in the world.

©2004 Algorithmics Incorporated. All rights reserved. ALGORITHMICS, ALGO SUITE, MARK-TO-FUTURE, MtF and the Ai logo are trademarks of Algorithmics Incorporated and/or its affiliates

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Heather Smith
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