LOGIN-ACUMEN V.5.50 - EXOTIC DEAL PRICING AND DEALS MANAGEMENT

Paris, France, 15 November 2004

LOGIN SA, a leading supplier of advanced and integrated management systems for treasury, has announced the availability of version 5.50 of its LOGIN-ACUMEN, the fully integrated front and middle office as well as risk management system, for treasury, derivatives and capital market instruments.

Among the major items, such as IAS/IFRS and Structured bonds management, LOGIN-ACUMEN V.5.50 also includes the following developments:

Exotic deal pricing
The pricing of the following instruments is now available in ACUMEN: cliquet options and several path dependent Libor and CMS interest rate products with caps / floors and callable or trigger features (target redemption note, callable Flip/Flop, callable CMS spread, etc.). Valuations are based on Monte Carlo, Hull and White and the Finite Difference Method.

Non Deliverable Forwards
The straight through processing of Non Deliverable Forward forex deals (NDF) is now fully supported in ACUMEN.

Management of limits breaks
Limit breaks can now be stored in the deal's level (regarding credit risk, settlement risk, trading and portfolio limits). Limit breaks can then be authorised by a user with proper rights. A fully customised set-up allows the appropriate processing based on the Bank's internal procedures.