Linux supported version of Algo Suite available January 2004

Toronto, Canada - October 17, 2003 -

Algorithmics Incorporated, a world leader in enterprise risk management solutions, today announced that the company's first Linux and distributed computing version of Algo Suite has successfully completed the first round of performance benchmarking and is implemented at client pilot sites. The Linux and distributed computing version of Algo Suite 4.4 delivers enhanced system performance and lower hardware costs in a highly scalable, reliable and dynamic computing environment.

"Our clients have commented that they have experienced a price performance increase of five to ten times for the internal applications they have already ported to Linux," said Michael Zerbs, Chief Operating Officer at Algorithmics. "Through Linux and distributing support we can deliver the proven enterprise-wide risk management capabilities in the industry at a lower cost, while enhancing performance and scalability - a truly powerful combination."

Over the past year, Algorithmics' Linux and distributed computing initiative has made considerable progress including the initiation of two separate client pilot projects. In 2002, Algorithmics formed a key partnership with DataSynapse to incorporate their GridServer technology as part of the distributed computing version of Algo Suite. Algorithmics has also recently completed performance benchmarking with both IBM and HP that has confirmed significant enhancements in both speed and scalability. These tests also confirmed that additional computing resources can be added to the solution without extensive implementation or configuration work required, thereby reducing the total cost of ownership. Additional benchmarking exercises are being planned with Intel and Egenera and will ensure that a Linux version of Algo Suite will be supported across all major client hardware platforms.

With the release of Algo Suite 4.4 on January 15, 2004, it will be possible to implement and run Algorithmics' Mark-to-Future (MtF) architecture entirely on Linux and deliver advanced enterprise risk management across the banking (wholesale and retail) and trading books. Using a Linux grid is perfectly consistent with Mark-to-Future methodology. Generating the MtF cube decomposes naturally along the instrument dimension and can be easily split among multiple machines. Using GridServer from DataSynapse, the generation of the MtF cube can be split across multiple machines with each machine simulating a small part of the cube.

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.

©2003 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.

Press Contact

Heather Smith
Senior Communications Manager
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email: Heather.Smith@algorithmics.com