The alliance, which brings together two respected market leaders, initially provides Bloomberg's trade capture, order management and position keeping systems, integrated with Algorithmics' market risk management applications as part of a single platform. Subsequent offerings will provide credit risk, collateral risk and risk data solutions.

Lou Eccleston, Global Head of Product Strategy Bloomberg comments on the alliance: "Bloomberg is committed to offering its customers the premier global liquidity platform by delivering premier applications to the Bloomberg user. With this integrated solution based on Algorithmics' leading Mark-to-Future™ methodology, we are taking the Bloomberg Professional, Bloomberg Trade Order Management System and Portfolio Trade Order Management System to a whole new set of users."

Tanys Lancaster, Sales - Bloomberg "By offering a pre-integrated solution that combines a leading front-end trade capture system with the market-leading risk management application, our customers need not be concerned with the time and costs involved in integrating separate architectures, databases or technologies; they need only benefit from the results of the Algorithmics and Bloomberg initiative."

Algorithmics sees the alliance as strong validation of its ASP and channel strategy, enabling the firm to deliver market-leading risk technology and the award-winning Mark-to-Future methodology to financial institutions that have typically been unable to warrant the expenditure on such sophisticated standalone applications. "This initial offering is aimed at servicing buy-side and sell-side institutions that either want to outsource their trade and risk management to a single source, or, those with limited resources that typically would not undertake complex implementations of software packages," said Michael Zerbs, Chief Operating Officer, Algorithmics.

"Another aspect of the alliance is Bloomberg's capability of delivering market leading risk solutions via the Bloomberg Professional to front-office users, addressing the need for pre- and post-trade risk management at the desk  or portfolio level," said Jason Nabi, Manager, Channel Sales, Algorithmics.

About Bloomberg L.P.

Bloomberg is a global news and information organization. The Company provides economic and financial information to the business community, in addition to supplying various news outlets. Bloomberg has forged a unique position within the financial services industry by providing an unparalleled range of features in a single package, the Bloomberg Professional service. By addressing the demand for investment performance and efficiency through an exceptional combination of information, analytic, electronic trading, and Straight Through Processing tools, Bloomberg has built a worldwide customer base of corporations, issuers, financial intermediaries, and institutional investors. Bloomberg media includes global news, television, radio, Internet, and magazine and book publishing operations with 1,500 reporters and editors in 85 bureaus worldwide. For more information please visit www.bloomberg.com.

© 2002 Bloomberg L.P. All rights reserved. Terms of Service, Privacy Policy and Trademarks

About Algorithmics Inc.

Algorithmics was founded in 1989 in response to the complex issues surrounding financial risk management for the enterprise. Today, as a leading provider with one of the largest and most experienced teams in the industry, Algorithmics continues to focus its efforts on creating and implementing enterprise risk management software that meets the evolving needs of its customers. Continuing its tradition of leading the way in risk measurement and management tools and processes, Algorithmics has introduced Mark-To-Future™ (MtF™), a new risk-reward management framework, which won Risk magazine's Technology Development of the Year award for 2001. Headquartered in Toronto, with 15 offices around the world, Algorithmics serves hundreds of clients in over 26 countries.

© 2001 Algorithmics Incorporated. All rights reserved. ALGORITHMICS, Mark to Future and the Ai Logo are trademarks of Algorithmics Incorporated and/or its affiliates.

SOURCE: Algorithmics Incorporated

WEB SITE: http://www.bloomberg.com/

WEB SITE: http://www.algorithmics.com/

WEB SITE: http://www.marktofuture.com/