New York, December 15, 2006 -- Savvysoft announced today the company has won top rankings in virtually every analytics category of the prestigious Risk Magazine 2006 Customer Satisfaction Survey. This includes an incredible three #1 rankings in analytics, where no other firm had more than a single #1 ranking. Savvysoft ranked #1 in Cross Asset, #1 in Interest Rates and #1 in Structured Products. Savvysoft also ranked #4 in Credit, #5 in FX, and #2 in Commodities, for top rankings in virtually every analytics category. And outside analytics, Savvysoft finished #4 in the hotly contested Market Risk category. When assessed across all derivatives software providers, including those with multiple products costing as much as fifty times more, Savvysoft still finished in the top 5, with an impressive #4 overall ranking. It is noteworthy that Savvysoft was the only analytics vendor to finish in the top 10 overall. "As Risk magazine said, the competition this year was ferocious," said Rich Tanenbaum, Savvysoft founder & CEO. "Coming out on top again makes all the hard work this year worth it." As the accompanying article notes, Savvysoft has had success this year extending its STARS Trading And Risk System for automated FAS 133 and IAS 39 hedge effectiveness testing. The article also talks about Savvysoft's offering of STARS as an ASP without the inherent limitations on customization normally associated with an ASP. As STARS reaches critical mass in the marketplace, we expect the ASP offering to significantly accelerate its acceptance among leading hedge funds, banks, money managers, investment advisors, and insurance companies," said Tanenbaum. Full results of Risk's Financial Technology Survey are available in Risks December 2006 edition.
Savvysoft is a New York City-based provider of high-caliber OTC derivatives analytics, portfolio and risk management systems, and market-implied corporate default rates. Savvysofts analytical products handle OTC derivatives in many markets including: equities, interest rates, FX, commodities, convertibles, MBS, electricity, energy, and credit. Savvysoft products are used by thousands of institutions in 15 countries worldwide. The institutions include top-tier banks, dealers, brokers, money managers, energy suppliers, corporate treasurers, auditors and consultants. Savvysoft was founded by Rich Tanenbaum, the head of Derivatives Research at Bankers Trust (now Deutsche Bank). Rich was a founding member of the first OTC derivatives desk on Wall Street at Bankers Trust. Savvysoft's corporate headquarters are located at 17 State Street, 4th Floor, New York, NY 10004 U.S.A. Tel: +1 212-742-8677; Fax: +1 212-425-8677; Web: www.savvysoft.com, www.turboexcel.com.
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Contact: LeeAnn Chen (212) 742-8677 leeann@savvysoft.com
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