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Globeop and Tradeweb Team Up With Suite LLC for Cds / Cdo Valuations

New York, NY – January 18, 2006 -- GlobeOp Financial Services, a provider of risk, operations and administration services to the global funds management community, has added Suite LLC’s ALib™ analytics pricing module for credit derivatives to its technical infrastructure. The agreement builds on GlobeOp’s prior relationship with Suite for fixed income pricing, adding a new module to support valuation of credit instruments ranging from single name CDSs to multi-name credit products such as CDOs, CLOs and CDOs of CDOs. Thomson TradeWeb, a leading network for online fixed income markets, went live in the fall of 2005 with Suite’s library to calculate the fair value of prospective trades for their online CDS execution platform.

"GlobeOp selected Suite’s new credit derivatives offering based on the acceptance it has achieved among our practitioner clients, as well as our long-standing success with Suite’s fixed income product," said Jerome Barraquand, Managing Director of GlobeOp Risk Services. "We know credit traders rely on Suite’s models for pricing both on their desktops and through e-trading platforms. It makes sense that we conform our ongoing valuation and risk reporting using the same analytics. We are also impressed with Suite’s commitment to ongoing product improvement and quality and look forward to working with them as they continue to enhance the functionality of the library to help meet the needs of our growing client base."

Lee Olesky, president of TradeWeb, noted, "We are happy to be teamed with Suite LLC for our CDS valuations, and their new partnership with Globe-Op makes it clear that Suite is establishing a position as a market-accepted provider."

"GlobeOp and TradeWeb are two great examples of companies taking full advantage of the transparency ALib offers and our commitment to working with clients to develop the tools they need," said Ed Chester, a Suite founding partner. "We are proud to expand our relationship with GlobeOp as the global acceptance of Suite’s products continues to grow.

ALib’s multi-name credit functionality is a semi-analytic method devised by Suite LLC partner Dr. Gene Schupak.