SIA DATA MANAGEMENT DIVISION STREET-WIDE TESTING SUBCOMMITTEE CHOOSES TIPS, Inc. TO SUPPLY "THE STREET" WITH YEAR 2000 TESTING DATA

Summit, NJ, November 25, 1997--The SIA Data Management Division Street-Wide Testing Subcommittee has selected TIPS, Inc. to develop the "Street Conventions" for calculations for all fixed income street wide testing for Year 2000 Compliance. After several months of working out the particulars, the subcommittee has asked TIPS, Inc. to come up with a set of test cases and standard results for "The Street" to use in testing their fixed income calculations for year 2000 compliance.

John Panchery, a Vice President of the SIA and project manager for the Year 2000 says, "We chose TIPS, Inc. for this project because their set of fixed income analytics are reliable and consistent." TIPS, Inc. produces a library known as the SIA/PSA Standard Securities Calculation Software Library for the securities trade associations (SIA and Bond Market Association). Panchery continues "We are confident that TIPS will provide us with the data and testing environment that our member firms and the rest of Wall Street need as part of their Year 2000 compliance testing. Having one standard for the calculations will make the process more efficient for our membership."

Jan Mayle, President of TIPS, Inc. explains, "Our business is the development and support of "industry standard" fixed income calculation software tools which are used by firms in the financial industry as well as software companies that support that industry. As part of our development process we perform extensive testing to help ensure that our calculations are accurate. To perform this testing we created a testing environment that we use to run through hundreds of thousands of test cases. It is this testing environment that we will use to produce the Street-Wide testing data." Continues Mayle, "While no testing can ever be complete we believe that the SIA Data Management Division Street-Wide Testing Subcommittee’s selection of data is a good starting point. In addition we offer the tools for those firms that want to take the testing process further."

TIPS, Inc., is the leading provider of fixed income analytics software development tools. Its software libraries, including the SIA/PSA Standard Securities Calculation Software Library, can be used to standardize calculations in all of your computing environments - from PCs to workstations to mainframes. The libraries perform "industry standard" calculations for a wide range of instruments (both US and international), and include all of the latest SIA, Bond Market Association, MSRB and ISMA standards. Users of TIPS products include the nation's leading brokerage, money management, banking and insurance firms. All TIPS software and libraries are and have worked properly with the Year 2000.

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