Enterprise Excel solution boosts ability to price and model financial products

 New York, London, Tokyo – February 28, 2007 – Numerix, the leading analytics player in derivatives pricing software, announced a strategic partnership with ClusterSeven, an innovative developer of enterprise spreadsheet management and control software.

The combined technologies give customers the capability to quickly and accurately price and execute financial products without leaving Excel, the trader’s preferred technology tool.

As a result of this partnership, ClusterSeven customers will gain access to NumeriX analytics through NumeriX for Excel, a series of flexible add-in templates.

Currently, structurers model financial products through software developed in-house; the models are then exported to Excel for pricing and execution. Although Excel is a user-friendly interface for traders, the process creates the risk of lost data and latency in trade execution. The combined ClusterSeven/Numerix technology helps eliminate this risk while accelerating the time-to-market by building underlying analytics right into the Excel interface.

“Speed is essential to maximizing profits on new financial products,” said Ralph Baxter, Director of Marketing andStrategy at ClusterSeven. “The integration of Numerix’s analytics with ClusterSeven’s management software will provide traders with the technology to find accurate prices and bring new products to the market faster, all within Excel.”

Built-in analytics inject speed and accuracy into pricing for the exotics and other complex products that deliver
competitive advantage for financial services institutions,” said Steven R. O'Hanlon, president & COO of Numerix. “By combining our analytics expertise with the trader’s tool of choice via ClusterSeven technology, we are helping traders mitigate risk when executing complex transactions from the back office all the way to the market.”

About ClusterSeven
ClusterSeven addresses the operational risk, control and compliance impact of financial institutions’ continuing
reliance on spreadsheets for developing and managing complex financial instruments and supporting key operations. ClusterSeven’s enterprise spreadsheet management software provides non-invasive, passive monitoring and tracking of spreadsheets down to a cell level across an institution, reducing operational risk, facilitating compliance, improving data management and protecting business-critical information. ClusterSeven was formed in 2003 and has offices in New York and London. ClusterSeven already has customers in investment banking, capital markets and energy trading.

About Numerix
NumeriX is the award-winning, independent leader in pricing and risk analytics for fixed income, credit, foreign exchange, hybrids, cross currency, commodities, inflation rate and equity derivatives. NumeriX has a financialengineering and quantitative team composed largely of PhDs on the same scale as the very largest of financial institutions. More than 300 clients across 25 countries rely on NumeriX for speed and accuracy in valuing their structured products and derivatives. Trading and risk platform vendors leverage NumeriX analytics to gain a time-tomarket advantage by embedding the power of NumeriX into their systems. Founded in 1996, the company is privately held and has offices in New York, Toronto, London, Paris, Singapore Hong Kong and Tokyo.

James Jockle
+1 646-512-5824

Dan Gaffney
+1 617-226-8844

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