BayernLB live with Algo Collateral for global cross product margining

Toronto, Canada / Bayern, Germany - May 21, 2003 -

Algorithmics Incorporated, a world leader in enterprise risk management solutions, today announced that Munich-based Bayerische Landesbank (BayernLB) has gone live with Algo Collateral to manage all of the bank's current and future global cross product margining requirements.

"Algo Collateral is a powerful collateral management solution that scales easily," said Claudia Gutke, Collateral Manager at BayernLB. "We are very pleased with the solution's short implementation cycle and are beginning to benefit from the advantages of automated operational collateral management."

BayernLB uses Algo Collateral as a flexible tool to manage cross product margining in the near future. The bank also uses Algo Collateral's interface to the LeDIS legal database application, a joint development between Algorithmics and public financial institutions sector service provider VöB-Service GmbH, to manage appropriate master and collateral agreements and their terms.

About Bayerische Landesbank (BayernLB)
Bayerische Landesbank (BayernLB), domiciled in Munich, is one of the largest banks in Germany. The bank is a public sector financial institution with a legal status of a "corporation established under public law". BayernLB is an international wholesale bank and one of Germany's largest issuing houses.

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
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email: Heather.Smith@algorithmics.com