Algorithmics' latest regulatory capital software now 600% faster

Toronto, London - June 2, 2009 -

Algorithmics announced today that the latest release of its regulatory credit capital software for Basel II, Algo Credit Regulatory Capital version 4.6, has significantly reduced the processing time of its clients' capital calculations so that they can now produce daily risk reporting, with one client achieving a 600% improvement in performance.

Algorithmics reported that a major European bank, having recently gone live with the software, has experienced performance gains of 600% and reduced total cost of ownership. The software is designed to support financial institutions experiencing substantial growth in data volumes and risk reporting requirements, for example, as a result of merger activity or in response to recent market events.

Jivantha Mendis, Senior Director, Capital Analytics at Algorithmics said: "Our latest release of Algo Credit Regulatory Capital is exceeding our clients' performance, volume processing and frequency of capital reporting requirements. The results experienced to date are truly market leading. Our streamlining of Algo Credit Regulatory Capital is a major milestone in our drive to reduce total cost of ownership for our clients through better performance, lower hardware and maintenance costs, faster implementation and shorter batch windows."

Michael Zerbs, President and COO of Algorithmics, added: "For Algorithmics, the capability to deliver such a strong performance improvement to our clients is validation that our focus on innovation and on investment in developing leading edge risk management solutions is the right one for us and for our clients. We will continue to invest in research and development to ensure we provide risk solutions that help our clients make more informed, risk-aware business decisions."

For more information about Algorithmics' solutions, visit: www.algorithmics.com/EN/services/9-prodserv.cfm

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:

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 Credit Regulatory Capital - Provides Pillar 1 credit regulatory capital measures under multiple approaches and national discretions. Algo Credit Regulatory Capital calculates Risk-Weighted Assets (RWA) and intermediate measures required for Pillar 1 regulatory and management reporting. It supports Standardized, IRB Foundation and IRB Advanced approaches to Basel II credit risk capital.

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  

© 2009 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, FIRST 500, ALGO MARKET ANALYTICS, ALGO OPDATA, ALGO OPVAR, ALGO RECONCILIATION, ALGO RISK, ALGO RISK SERVICE, 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