Algorithmics Inc.

/C O R R E C T I O N -- Algorithmics Incorporated/

    Toronto (ots/PRNewswire) - In the news release, "Plainfield Asset Management Selects Algo Risk"  scheduled for release on 21 Jun 2005 08:00 GMT, by Algorithmics Incorporated    over PR Newswire, we are advised by a representative of the company that the release was to be distributed in English ONLY. Complete, corrected release follows:

    Algorithmics Incorporated, an international leader in enterprise risk management solutions, today announced that Plainfield Asset Management LLC has signed for the Algo Risk solution.

    An emerging US hedge fund with significant management experience and unique multi-faceted focus on distressed and special debt opportunities, Plainfield Asset Management's accurate measure and analysis of portfolio risk is a core part of its investment process. "Strategic risk management is one of the foundations of our business," said Max Holmes, Plainfield's Founder and Chief Investment Officer. "Algorithmics' leading analytics and multiple delivery options are designed to ensure we can maintain excellence in risk management while scaling our system to meet current and future requirements."

    Algo Risk is the financial risk management solution of choice for an increasing number of buy-side institutions including asset managers and hedge funds. Algorithmics has secured over 17 buy-side clients for this innovative and flexible solution since its launch in 2004.

    "Greater transparency and a strategic approach to risk within the investment process are becoming core demands of institutional investors and regulators," said Dr. Andrew Aziz, Managing Director, market risk and buy-side solutions at Algorithmics. "Innovative, growth-oriented hedge funds such as Plainfield Asset Management are embracing actionable risk management based on leading-edge analytics and flexible delivery options."

    Algo Risk enables portfolio managers, traders, risk managers and quants to measure, monitor and manage investments from both decision support and risk oversight context. Algo Risk is supported by a wide range of advanced portfolio/risk analytics, valuation methodologies and scenario generation techniques and can be used to support both investment decisions and risk oversight. The solution's underlying Mark-to-Future architecture is both asset class and risk factor agnostic, enabling the solution to span all holdings and investment strategies across the enterprise. In addition, the architecture enables the solution to be deployed as either an in-house implementation or as an outsourced offering provided through Algorithmics' hosting partners, Bloomberg via an ASP and Cicada Risk through a managed service.

    About Algorithmics

    Founded in 1989, Algorithmics is a recognized leader in enterprise risk management. Following its acquisition by the Fitch Group in January 2005, Algorithmics is the world's leading provider of enterprise risk management solutions and services that enable financial institutions to effectively understand and manage their financial risk. Algorithmics has over 200 clients, including more than 60 of the 100 largest financial institutions in the world. Algorithmics was recently recognized as the dominant enterprise risk solution provider in market, credit and operational risk in Risk Magazine's 2004 Technology Rankings.

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


ots Originaltext: Algorithmics Inc.
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For further information: Kevin Ellis, Senior Manager Communications,
Algorithmics, +1-416-217-4321,

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