Algorithmics Incorporated

Algorithmics Incorporated

October 19, 2006 14:00 ET

Marex Financial Live With a Managed Risk Service Hosted by Algorithmics

TORONTO, CANADA--(CCNMatthews - Oct. 19, 2006) - Marex Financial and Algorithmics today announced that Marex has gone live with a managed services deployment of Algorithmics' market-leading risk management platform Algo Risk. Hosted by Algorithmics, this offering provides financial institutions with advanced portfolio analytics, risk management and decision support capabilities spanning all asset classes and investment strategies.

"When choosing Algorithmics, Marex sought a risk calculation engine that could cover the full spectrum of its business and provide full hosting capabilities. Essential criteria that Algorithmics had to meet included a demanding implementation schedule, flexible reporting capabilities, reliable system support, and ease of use," says Duncan Stewart, Risk Manager at Marex Financial. "In comparison to the competitive systems that Marex considered, the Algorithmics solution proved to fit all requirements. The system was implemented in line with the timetable, and since implementation has proven to be a highly capable and reliable tool that is essential to Marex's risk management function."

"Marex is now able to stress test their proprietary and client books, including yield curve, volatility surface and commodity curve shocks, and generate VaR and other risk analyses across a wide range of FX, interest rate, and commodity products," says Dr. Andrew Aziz, Managing Director of Risk Solutions for Algorithmics. "This managed services deployment gives Marex access to leading edge risk management tools without the need to support a complex infrastructure onsite."

About Marex Financial

MAREX Financial is an Independent Broker Dealer offering worldwide coverage of Commodities, Financial Futures and Options and FX Markets. Clients are serviced by experienced and dedicated staff from our offices in London, Geneva and Gibraltar where we have more than 200 employees. MAREX Trading is one of the world's premier electronic groups and supports the professional traders pursuit of success in an institutional trading environment by providing them with the necessary support and knowledge to succeed. MAREX Financial has a sole shareholder, the Marathon Special Opportunity Master Fund Limited. This fund is managed by Marathon Asset Management LLC. Marathon is a New York based alternative investment and asset management company with over $5 billion in capital and approximately $11 billion in assets under management.

About Algorithmics

Founded in 1989, Algorithmics provides enterprise risk management solutions and services that enable financial institutions to effectively understand and manage their financial risk. Algorithmics has over 300 clients, including more than 70 of the 100 largest financial institutions in the world. Algorithmics was voted as the leading enterprise risk solution provider for Basel II, market risk, credit risk, operational risk and collateral management in Risk magazine's 2005 Technology Rankings. Algorithmics is a member of the Fitch Group.

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 subsidiary of Fimalac, S.A., an international business support services group listed and headquartered in Paris, France.

(C) 2006 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.


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