Server: Netscape-Enterprise/2.01 Date: Fri, 21 Nov 1997 05:18:37 GMT Accept-ranges: bytes Last-modified: Thu, 20 Nov 1997 02:43:59 GMT Content-length: 5356 Content-type: text/html C·ATS WINS RISK AND TRADING SYSTEM CONTRACT WITH NEW YORK OPERATION OF DAIWA SECURITIES


 


C·ATS WINS RISK AND TRADING SYSTEM CONTRACT WITH NEW YORK OPERATION OF DAIWA AMERICA


C·ATS Technology to Support Front-to-Back Office Pricing and Hedging for International Trading

Palo Alto, CA, October 27, 1997 - C·ATS Software, Inc. (NASDAQ: CATX), a leading provider of strategic risk management solutions, today announced that Daiwa America Corp., the North American subsidiary of Daiwa Securities Co. Ltd., has chosen C·ATS Software technology for its derivatives trading and risk management. C·ATS was selected in a competitive product analysis conducted by Daiwa.

"As market-makers in the international bond market, we needed a broad-based solution for interest-rate risk management and derivatives trading that not only provides deal-capture for our front office, but also pricing, risk management and accounting. Against competing systems, C·ATS proved their ability to easily handle unusual instrument structures, while providing a well-priced, fully integrated, plug-and-play solution," said Mark Finston, executive vice president and CFO of Daiwa's New York operation.

The solution, which includes modules for swaps, options, caps, strikes, global risk management and accounting with a general ledger interface, has already been installed.

"We are delighted to welcome Daiwa America to our group of outstanding North American clients," said David Gilbert, president and COO of C·ATS Software. "Instrument flexibility and ease of implementation are among C·ATS' strengths, and we were gratified to see these proven in a competitive situation. We look forward to providing Daiwa America with advanced products to meet their developing business requirements."

About Daiwa America Corp.

Daiwa America Corp., headquartered in New York City, heads Daiwa Securities operations in North and South America. Activities include international brokerage services, as well as comprehensive prime brokerage services, including securities lending, correspondent clearing and foreign exchange brokerage using the Daiwa Group's global network. In addition to underwriting debt and equity securities in this region, Daiwa America develops structured finance packages and provides comprehensive securities custody and portfolio management services through Daiwa Securities Trust Company.

About C·ATS Software

C·ATS Software Inc. is a leading developer of strategic risk management and derivatives trading solutions and implementation services. The firm is headquartered in Palo Alto, California, and has sales and support offices in New York, Los Angeles, London, Geneva, Tokyo and Hong Kong. Its products are licensed to more than 70 clients in 19 countries, including more than a third of the world's 50 largest commercial banks. More information on C·ATS and its solutions can be found on the World Wide Web at www.cats.com.

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Contact:
Kathleen Hawk Kristen Fuller
Lochner & Hawk, Inc. C·ATS Software Inc.
(908) 852-3656 (650) 354-0419
khawk@lhpr.com kristenf@cats.com


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