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Abbey National plc goes live with Algo Collateral

TORONTO, CANADA and LONDON, UK, Nov. 10 /CNW/ - Algorithmics Incorporated, a world leader in enterprise risk management solutions, today announced that Abbey National Treasury Services plc has successfully implemented Algo Collateral in London to manage the operational margining requirements arising from all OTC Derivative collateralized trading activity. Algo Collateral is a proven enterprise-wide collateral solution, dedicated to reducing operational and credit risk, while simultaneously providing cost- effective support throughout the entire collateral management process.

"Through Algo Collateral, we have implemented a secure and sound collateral policy for our OTC Derivative business. The automation of the collateral process is key to the minimization of related operational risk and maximizing the return on our investment," remarked Nathan Bostock, Head of Abbey National Treasury Services. "Our decision to partner with Algo Collateral has been validated by the solution having been implemented on time and within budget."

"Abbey National Treasury Services has a strategic understanding of the
importance of managing operational risk in order to take full advantage of the
commercial opportunities presented by effective collateral management, one of
the many business benefits of our proven Algo Collateral solution," said
Michael Zerbs, Chief Executive Officer at Algorithmics.