Clearwater AnalyticsC tl dt G tCourtlandt Gates

Chief Executive Officer

2010 Alexander Hamilton Award2010 Alexander Hamilton AwardSolution of the Year

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About Clearwater• Founded in December 2004• Offices in Boise, Idaho and New York• Reporting on more than $500 billion in assets for 2,500 investorsReporting on more than $500 billion in assets for 2,500 investors• Partnerships with top asset management firms and custody banks• Dynamic, web‐based system• Providing true SaaS investment portfolio accounting and analytics

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• Providing true SaaS investment portfolio accounting and analytics

Accurate, daily, reconciled dataImprove investment decisions 

using data that ties out 

Integrated reporting modulesAccounting, compliance, risk and 

performance

Cutting‐edge technologyPremium service model enabled 

by technology

Complete portfolio analyticsView an aggregate of all holdings across the globe in one place 

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Select Clearwater Customers

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Why Has Clearwater Been Successful?

Market Problem Solution

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Why Has Clearwater Been Successful?• Market problem 

– “What are my risks?”

– “There must be a better way to get this done.”There must be a better way to get this done.

– “I need accurate, timely, actionable information.”

• Good fortune?Good fortune? – Germination in Silicon Valley

– Combination of founders’ skills

• People• People– Driven, team players

• Product that addresses a significant problem

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– Transparent, flexible, scalable

Clearwater and Cisco• Integral Partnership

– An important development partner

• Cisco Treasuryy– $40b investment portfolio

– Three treasury specialists

– Multiple data sourcesMultiple data sources

– Disparate reporting formats and standards

– A need for standardization and transparency

• Recent Developments – Performance Contribution reports

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– Multiple index options as benchmarks

Without Clearwater:

Legacy Legacy Accounting Accounting 

SystemSystem

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With Clearwater:

Client’s global holdings Benefits:• Aggregated from multiple data points• Daily reconciliation• Consistent accounting assumptions• Remotely accessible• Period end reporting• Adherent to regulatory standards 

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Third party data providers

Verifies, checks, & reconciles data daily

Improve investment decisions using daily‐reconciled data

Single‐point, SaaS solution available anywhere, anytimeMonitor multiple portfolios on a 

constantly‐evolving system

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Solution: Daily Integrated Reporting

• Fully automates reporting process / control structure

• Aggregates and reconciles all assets• Aggregates and reconciles all assets on a daily basis

• Minimizes systems (consistent, efficient and accurate lessefficient and accurate, less expensive) 

• Allows stakeholders to access accurate investment accounting,accurate investment accounting, compliance, risk and performance data for internal and external reporting purposes

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p g p p• Provides actionable information