Axiom SL Announces Availability of FinETL™, its Tool for Real-Time Financial Enterprise Data Management and Analytical Composite Application Development

This is the first product that combines ETL functionality with composite application development environment specifically addressing challenges of the financial industry.

New York, Thursday, May 06, 2004 - Axiom Software Laboratories, provider of financial data and risk management technology has announced today the availability of its new FinETL™ tool specifically designed to support development and deployment of complex financial data and analytical applications. The new patent-pending product successfully underwent extensive testing on risk management and regulatory reporting sites of the world largest financial institutions.

FinETL™ solves many of the most difficult data management and analytical application development challenges in the area of Enterprise Risk Management, Basel II, Regulatory reporting and Compliance, including new regulations requirements such as Sarbanes Oxley Act.

FinETL™ is a graphical multi-step, multi-threaded process development and mapping environment, combining robust business rules, data transformation and analytical calculation engines. It allows users to handle data pre-processing, transformation and complex analytical calculations in real-time. Based on Axiom SL’s solid data management architecture, FinETL™ enables simultaneous access to multiple data sources, delivers valid reference and market data content, high speed analytical and portfolio risk calculations, instruments pricing and more.

With Basel II Capital Adequacy Directive’s heavy historical information requirements of deep and diverse data sets and analytical processing, FinETL™ is a key infrastructure component for Credit, Market, Operational Risks and Enterprise Capital Aggregations. FinETL™ provides full functionality coverage for data gathering, cleansing, pre-processing and aggregation from multiple operational enterprise systems. In addition, FinETL™ offers user-defined calculations, statistical analysis, real-time instrument pricing and risk measurements including VaR, CVaR, PD, EAD and LGD.

“With the growing demand for strategic business intelligence specific to the financial enterprise, financial institutions are facing more than ever complicated data management and analytical challenges,” says Alex Tsigutkin, Axiom SL’s CEO. “The need is there with limited resources and time-to-market constraints for tools that will empower business analysts to employ their knowledge in developing business processes without using a conventional programming language. IT staff are now equipped with a sophisticated financial application development environment protecting years of investment in legacy applications by wrapping developed libraries into FinETL™. Integrating easily with existing middleware, financial applications, instruments analytics and data warehouses, FinETL™ offers institutions a high performance development and business intelligence platform.”

About Axiom Software Laboratories, Inc.

In business since 1989, Axiom Software Laboratories (Axiom SL) is a leader in developing software solutions for true enterprise-wide risk, data management, regulatory reporting, compliance monitoring. Axiom SL's proven technological advancement continues to solve the rigorous challenges of its diverse clientele in adapting different data environments allowing mission-critical activities to be performed across an entire enterprise.

Axiom SL's experienced staff is comprised of skilled professionals, experts in a range of key disciplines, including risk management, database and middleware technology, financial applications, Internet technology and financial engineering. The company serves major global financial institutions, large corporations, asset managers and energy companies.