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PRESS RELEASES
Contact: "LeeAnn" Chen 212-742-8677
SAVVYSOFT ANNOUNCES NEW RELEASE OF TOPS EXCLUSIVELY FOR INFINITY FINEX
Demonstrates Product at the Infinity Global User Group Meeting
WASHINGTON, Oct. 8, 1997 -- Savvysoft announced today the release of a new version of TOPS, Tanenbaum Option Pricing Software, to be used with Infinity FinEx from Infinity Financial Technology, Inc. Called "TOPS for Infinity FinEx," the new version provides TOPS users with access to Infinity's straight-through trading capabilities. The announcement was made at the Infinity Global User Group Meeting in Washington, D.C. The User Group Meeting is attended by leading financial institutions from around the world.
"Infinity FinEx is the missing link in derivatives software," says Rich Tanenbaum, partner at Savvysoft. "With the introduction of TOPS for Infinity FinEx, it is now possible to easily connect the open and powerful derivatives pricing spreadsheet analytics of TOPS to Infinity's straight-through trading system. Customers have always been able to structure incredibly complex deals in minutes with TOPS. Now they can book them just as fast."
Infinity FinEx integrates financial instruments modeled in Microsoft(R) Excel with Infinity 7.0, a suite of risk management applications announced this week by Infinity. This integration allows traders to model a new instrument in Excel using functions provided by the Fin++ (R) Class Library, and then process and manage it in Infinity's application suite. Thus the trader can combine the flexibility of Excel with the efficiency and security of an integrated system.
TOPS for Infinity FinEx uses TOPS Dialog Boxes as a user interface, simplifying the valuation of complex derivatives. Virtually any parameter of a deal can be handled as a TOPS Power Range, which allows schedules of numbers to be entered into one input field. Thousands of exotic structures can be created quickly. Deals with changing coupons, variable strikes, amortizing notionals and arbitrary barriers can all be valued using full yield and volatility curves. American, European or Bermudan exercise types for virtually any fixed income, equity, FX, and commodity derivative can be handled. Thousands of derivatives and options including the newest and latest structures such as Ratchets, Ladders, Baskets, BarrierSwaptions, DiffSwaps, Floating Caps & Floors, Captions, CMS/CMTs, Asian Strips, Commodity Swaptions, MBS Valuations and more can now be valued within the framework of Infinity's trading applications.
Savvysoft
Savvysoft is a New York-based provider of world class derivatives pricing and analytics. Founded by Rich Tanenbaum, an options pioneer and the former head of Bankers Trust Derivatives Research, TOPS was formally announced in 1995. TOPS is now used by nearly 200 top tier banks, dealers, brokers, money managers, corporate treasurers, auditors and consultants worldwide. The software is available on PCs and UNIX machines. TOPS is available as spreadsheet add-ins for Excel, 1-2-3 and Applix, as subroutines, and integrates with sophisticated trading systems such as Infinity 7.0. Savvysoft's headquarters can be reached at 17 State Street, 4th Floor, New York, NY 10004. Tel: 212-742-8677; Fax: 212-425-8677.
Infinity Financial Technology, Inc.
Infinity Financial Technology, Inc. develops and markets enterprise software solutions for financial risk management. These solutions address the rigorous business requirements of global organizations that manage complex financial assets, including banks, fund managers, and corporate and government treasuries. The company was founded in 1989 and completed its initial public offering in October 1996. It offers global sales and support through offices in New York, Chicago, San Diego, Toronto, Santiago, London, Paris, Frankfurt, Tokyo, Singapore and Sydney. Business Week recently recognized Infinity as #7 on its top 100 list of "Hot Growth" public companies in the U.S. Infinity's headquarters can be reached at 640 Clyde Court, Mountain View, CA 94043. Tel: 415-940-6100; Fax: 415-964-9844; URL: http://www.infinity.com.
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