New York, N.Y., April 4, 1995 – Chemical Bank's Market Data Services group has selected TechHackers @nalyst spreadsheet function add-in and C program libraries for inclusion in its powerful new real-time trading analysis system, according to Atul Jain, President of TechHackers. The new system, which includes both front- and back-office applications, is currently being installed for 200 traders at Chemical Bank's foreign exchange, derivatives, and government and municipal bonds trading desks.

The new front-office applications will allow Chemical traders to analyze real-time market data as it is fed directly into spreadsheets on their trading workstations. These powerful UNIX workstations integrate the @nalyst function libraries into Applix Real Time spreadsheet programs coupled with Reuters Triarch 2000 data-feeds, and run on Sun Microsystems platforms. Four complete @nalyst libraries, financial @nalyst, bond @nalyst, options @nalyst, and mbs @nalyst, are included on the new workstations.

@nalyst function add-in libraries provide comprehensive batteries of industry-standard financial calculation functions that augment conventional spreadsheet programs. The added @nalyst calculations operate as integral functions of the spreadsheet, allowing traders and analysts to automatically perform complex financial calculations, such as options prices, yields, and risk metrics, in single operations.

In addition, Chemical Bank had purchased the C program code versions of these @nalyst libraries for incorporation as calculation engines in the proprietary in-house applications that will link market data services to the new trading workstations. Use of the Street-proven @nalyst function capabilities on both the front and back ends of the new real-time system will ensure analytic consistency all across Chemical’s new trading floor.

"Our goal in every technology decision is to help our traders concentrate on their primary responsibilities," explained Jose Cadalzo, Vice President of Market Data Services for Chemical Bank. "The inclusion of the @nalyst function add-ins and C program libraries in our new real-time market data systems will help our traders focus on the meaning of the data, and not on mechanics. The broad range of functions included in the @nalyst libraries will also help us to meet new requirements as they evolve."

Mr. Cadalzo indicated that his group has already rolled out more than 170 of the 200 workstations planned, and he expects to complete implementation by May 1996.

"Chemical Bank’s decision to rely on @nalyst for these new applications illustrates the reliability and usefulness of these very affordable function libraries," Mr. Jain observed. "@nalyst libraries add value to almost every spreadsheet in any financial environment. I doubt that there is a serious financial analyst anywhere that would not profit from using at least one of our @nalyst products."

Based in New York, TechHackers is a software engineering and systems architecture firm that builds customized securities trading and portfolio management systems for the world’s leading financial services firms. TechHackers has served as systems designer and consultants to such industry leaders as Citicorp Investment Bank, Union Bank of Switzerland, Goldman Sachs, Nomura Securities, and Greenwich Capital Markets. The company also develops and markets the @nalyst line of spreadsheet function add-ins and C libraries. @nalyst libraries are currently used by more than 50,000 professionals worldwide.