ATSC Announces New Appix Mortgage Release Bringing Relative Value Capabilities to the Entire MBS TBA Allocations Cycle
MCLEAN, VA – February 26, 2009, ATS Corporation (“ATSC” or the “Company”) (OTCBB: ATCT), a leading information technology company that delivers innovative technology solutions to government and commercial organizations, today announced the Appix Financial Services Platform, a leading back office software provider to the mortgage backed securities market, released a major upgrade to its Appix Mortgage product, bringing automated filtering to its innovative “lights-out” EPN turning functionality.
Custom MBS pool filtering can now automatically be applied during the most frenzied part of 48 hour, or Notification, day, allowing the Appix Mortgage application to search for relative value while quickly turning out EPN trades from buy to sell, virtually eliminating fails while reducing portfolio risk by ensuring that your best pools are kept in inventory.
Using this new feature, allocations and operations managers can customize pool filtering at the product/coupon level based on industry standard pool characteristics as well as internal custom characteristics such as score and rank. This auto-filtering feature, combined with our manual/auto allocations filtering allows for the automated back office execution of investment strategy throughout the entire allocations cycle, from beginning to end, resulting in a pool inventory that meets your portfolio/trading objectives.
“Auto-filtering for relative value is another way that our mortgage backed securities processing product incorporates operational and portfolio maximizing innovations to help our customers considerably expand their business capabilities,” said Doug Starkey, Vice President of the ATSC Financial Services Platform.
In addition to auto-filtering, Appix Mortgage’s automated EPN turning module handles both odd size TBAs and tail pieces and includes optimized turn functionality that enables it to process tail pieces on the buy side and turn them as needed to unlike open tails on the sell side.
About ATS Corporation
ATSC is a leading provider of software and systems development, systems integration, infrastructure management and outsourcing, information sharing and consulting to the Department of Defense, Federal civilian agencies, public safety and national security customers, as well as commercial enterprises. Headquartered in McLean, Virginia, the Company has more than 600 employees at 12 locations across the country.
Any statements in this press release about future expectations, plans, and prospects for ATSC, including statements about the estimated value of the contract and work to be performed, and other statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence on our contracts with federal government agencies for the majority of our revenue, our dependence on our GSA schedule contracts and our position as a prime contractor on government-wide acquisition contracts to grow our business, and other factors discussed in our latest annual report on Form 10-K filed with the Securities and Exchange Commission on March 17, 2008, as amended on March 21, 2008 and April 4, 2008. In addition, the forward-looking statements included in this press release represent our views as of February 26, 2009. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to February 26, 2009.
Additional information about ATSC may be found at www.atsc.com.
Company Contact:
Joann O’Connell
Vice President, Investor Relations
ATS Corporation
(571) 766-2400
Media Contact:
Penny Parker
Corporate Communications Manager
ATS Corporation
(571) 766-2400