Toronto, London, and New York (PRWEB UK) 18 July 2011

Algorithmics, the leading provider of risk solutions, today announced that City Index, a global leader in spread betting, contracts for difference (CFDs) and margined foreign exchange, has gone live with Algorithmics? Algo Risk Service for intra-day risk exposure tracking.

City Index is a leading provider of contracts for difference (CFD), forex and, in the UK, spread betting. As Algorithmics? first client in the retail trading sector, City Index will use Algo Risk Service, a hosted risk management, portfolio analytics and decision support tool, to provide a holistic view of risk across the thousands of individual markets in which both City Index and its clients are active.

David Offen, Global Head of Risk, City Index, commented: ?We were looking for a risk management system that would provide us with a range of risk and portfolio management capabilities that could be tailored to meet our specific requirements. Algorithmics? Algo Risk Service, more than meets these requirements.?

Dr Andrew Aziz, Executive Vice President of Buy-Side Risk Solutions at Algorithmics, said: ?We look forward to providing risk analytics, reporting and portfolio construction for City Index, our first client in the retail trading sector. This market is becoming increasingly sophisticated and City Index is the first to leverage Algorithmics? risk analytics capability to help manage its internal capital and counterparty exposure.?

For more information about Algorithmics? award-winning enterprise risk solutions, visit:

For further information please contact:

Heather Smith, Senior Communications Manager, Algorithmics (UK) Ltd

Direct line +44 (0) 20 7392 5820 Mobile +44 (0) 7515 974223

E-mail Heather.smith(at)algorithmics(dot)com

Notes to Editors:

City Index is one of the world leaders in spread betting and CFD trading. Established in the UK in 1983 we have grown to become leading providers of contracts for difference, FX and spread betting over the past 25 years. City Index is part of IPGL ? a privately owned company with substantial shareholding in the world?s leading derivatives broker ICAP plc.

Algorithmics is the world’s leading provider of risk solutions. Financial organizations from around the world use Algorithmics’ software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group.

Algo Risk Service is a web-based risk management and portfolio construction service, hosted by Algorithmics, for buy-side organizations, trading desks and corporate treasuries. Hosted by Algorithmics and delivered online, the service provides access to sophisticated risk management and investment support tools, without the data, personnel, and hardware costs of maintaining an in-house deployment. As a managed service, Algo Risk Service provides a dedicated data and production environment, delivered online, which is uniquely configured to address each client?s specific business requirements. All data management, model configuration, and application support is provided by a dedicated Algorithmics team of client engagement specialists.

Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world’s markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings? global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.

The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world’s leading provider of enterprise risk solutions.

The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France.

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