BayernLB LIVE WITH ALGO COLLATERAL FOR GLOBAL CROSS PRODUCT MARGINING

TORONTO, CANADA / MUNICH, GERMANY – May 21, 2003 – Algorithmics Incorporated, a world leader in enterprise risk management solutions, today announced that Munich-based Bayerische Landesbank (BayernLB) has gone live with Algo Collateral to manage all of the bank’s current and future global cross product margining requirements.

"Algo Collateral is a powerful collateral management solution that scales easily," said Claudia Gutke, Collateral Manager at BayernLB. "We are very pleased with the solution’s short implementation cycle and are beginning to benefit from the advantages of automated operational collateral management."

BayernLB uses Algo Collateral as a flexible tool to manage cross product margining in the near future. The bank also uses Algo Collateral’s interface to the LeDIS legal database application, a joint development between Algorithmics and public financial institutions sector service provider VöB-Service GmbH, to manage appropriate master and collateral agreements and their terms.

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