New Multi-Broker Access Hedge Fund Trading Tool provides FIX enabled access to Market Liquidity in Japan and other Asian Markets

Tokyo JAPAN, August 30, 2004 – MetaBit’s latest multi-broker DMA connectivity tool, XiliXTM, went successfully live today with its first Japan based hedge fund client (undisclosed). XiliXTM is an innovative FIX enabled, broker independent trading solution providing the financial services industry with high performing and scalable execution capacity for real time equities trading. Through XiliXTM, buy side clients access increased market liquidity throughout Japan and other Asian markets via MetaBit’s connectivity hub. XiliXTM delivers intelligent order routing and algorithmic trading including VWAP, pairs, long/short equities strategies and market depth trading that can be controlled manually or set to auto-trading modes.

Three more buy side clients are scheduled to go live over the next two months with MetaBit’s latest trading tool, accessing increased market liquidity through MetaBit’s centrally managed hub linked to a growing number of foreign and Japanese brokers. Buy side clients, and hedge funds in particular, are demanding fast access to markets with a solution that simplifies connectivity to multiple brokers and exchanges, reduces trading errors, and increases trading efficiency and performance.

"Our client was deeply impressed with the new product," says Yoko Tateya, Director of MetaBit. "XiliXTM was installed in a matter of minutes, and the client started trading high volumes immediately. Let alone the superior performance and robust system, the intuitiveness and light footprint of the GUI makes XiliXTM a fast and effective tool for supporting day-to-day trading activities. XiliXTM is designed based on feedback from actual traders. We are very confident that the usability of XiliXTM is top level in the market."

John Edwards, CTO of MetaBit confirms the modern C# GUI combined with a server configured on JAVA and Linux ensures stability and scalability. By utilizing the latest proven technologies, Mr. Edwards is confident that XiliXTM fully satisfies the needs of hedge funds and asset managers.

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