NORTHERN TRUST IN FULL PRODUCTION WITH ALGO CREDIT FOR PRE-DEAL CREDIT LIMITS

TORONTO, CANADA / CHICAGO, USA - November 10, 2004 - Algorithmics Incorporated, a world leader in enterprise risk management solutions, today announced that Northern Trust Corporation of Chicago, Illinois, is in full production with Algo Credit for pre-deal limits management. Northern Trust has deployed the Algo Credit solution to support intra-day and 24 x 7 trading operations originating from their Chicago, London and Singapore dealing rooms. Algo Credit Limits provides a powerful risk calculation, aggregation and consolidation framework for comprehensive exposure and limit management.

While Northern Trust went live with Algo Credit for overnight batch operations in September of 2003, Algo Credit pre-deal limits management now adds the intra-day FX and money market activity of over 50 GT-Win live dealer workstations worldwide. The implementation also captures automated broker trades through the Northern Trust FX Passport, FX Caleo, and Reuters Electronic Broker Services. Algo Credit provides Northern Trust with 'what-if' pre-deal limit checking, real-time availability under exposure, settlement and country risk limits.

"Algo Credit's limit and exposure management functionality has enhanced our business potential by streamlining the credit approval process while providing multi-operational shared access to limits information," said Robert Seston, Vice President at Northern Trust.

Northern Trust is now focusing on integrating other business lines into the risk management framework provided by Algorithmics to facilitate both the global consolidation of risks across multiple business lines.

"Northern Trust is a solid example of how Algo Credit provides a consistent, integrated framework for managing credit risk across the enterprise," said Michael Zerbs, Algorithmics' Chief Executive Officer. "Not only is Northern Trust able to manage its credit limits and exposures through one central framework, but this information can also be leveraged by the front office in making risk-based business decisions."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development