TORONTO, Canada and LONDON, November 10 /PRNewswire/ -- 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 collateralised 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 minimisation of related operational risk and maximising 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.

About Abbey National Treasury Services plc

Abbey National Treasury Services plc is part of Abbey one of the UK's leading personal financial services companies. It is the largest bank that only focuses on UK personal financial services. Abbey offers a full range of personal financial services both direct and through intermediaries, to more than 18 million UK customers and expatriates. The range of services includes mortgages and savings, bank accounts, loans and credit cards, long term investments including pensions and unit trusts, life, critical illness and unemployment cover, and household, motor and travel insurance. It also provides offshore banking for expatriates. Abbey's goal is to be the leading provider offering only personal financial services in the UK via both direct and intermediary channels. Abbey intends to offer the highest level of service and advice to UK consumers.

About Algorithmics

Algorithmics is a leader in enterprise risk management for financial institutions. Now in its fifteenth year, Algorithmics serves more than 150 global clients in 31 countries with proven solutions that continue to meet their evolving needs and deliver significant return on investment. Algo Suite 4.4, the latest version of Algorithmics' suite of enterprise risk management solutions, leverages Mark-to-Future technology to provide a proven risk architecture that delivers cost-effective, on-time enterprise risk management. Algorithmics is headquartered in Toronto and has 15 offices worldwide.

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