Press Release
Federal Farm Credit Banks Funding Corporation Utilizes Principia for Management of Bond Program
System's Front-Back Office Capabilities Address
Needs of Major Debt Issuer
New York, July 28, 1998 – Principia Partners, the rapidly growing provider of turnkey, dealer-developed software for the derivatives and fixed-income markets, today announced that the Federal Farm Credit Banks Funding Corporation (Funding Corporation) has become a client. The Funding Corporation has licensed the Principia Analytic System (PAS) to help manage its extensive program of agency debt issuance and interest payments, including hedging activities and risk analysis.
The Funding Corporation acts as the fiscal agent for issuing, marketing and handling other aspects of debt issuance for the Farm Credit System's eight banks. Total debt outstanding is $ 62.6 billion, as of March 31, 1998. The Funding Corporation's selling groups distribute Systemwide debt securities to a range of investors including foreign and domestic banks and government entities, pension and money market funds, and savings and loan institutions, among others. It also provides certain financial advisory services and, as requested, consults with the System banks in the management of interest-rate risk.
Theresa L. Adams, principal and a founder of Principia Partners, noted, "As the fiscal agent for the entire Farm Credit System, the Funding Corporation has a huge responsibility, and we are very pleased that the financial professionals there chose Principia to help carry out their mandate. Our successful experience with them and other government-sponsored entities underscores our ability to meet stringent specifications and to address the specialized needs of a very large and on-going debt issuance program."
About Principia Partners
Principia Partners, headquartered at Harborside Financial Center in New Jersey, was founded by a group of finance and technology professionals who have over a century of combined experience in the financial markets. From this expertise in trading, operations, systems and risk oversight comes the framework for the Principia Analytic System (PAS), the company's front-to-back office solution for trading and portfolio management in the derivatives and fixed-income markets. PAS includes a complete set of robust risk management tools to value portfolios and evaluate risk under expected, historical and stressed conditions. The turnkey system, which is distinguished by its ease of installation, is used by derivatives dealers, commercial banks, insurance companies, investment banks, money managers, hedge funds and government agencies.
For press information contact:
Shamira Alidina
Write Image
271 Regent Street
London W1B 2BP
shamira@write-image.co.uk
Tel: + 44 (0) 20 7959 5450
Fax: + 44 (0) 20 7493 5499
Email: shamira@write-image.co.uk