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FMS Agrees to License Universal Trading Platform for E Quote FX Corp.

Kinvara Ventures Inc., to be renamed Financial Market Solutions (Canada) Inc. (“the Company”), is pleased to announce that Financial Markets Solutions Inc. (“FMS”), a Bellevue, Washington-based Financial software corporation, has signed an agreement with New York-based E Quote FX Corp. (“E Quote”) whereby FMS will license its Universal Trading Platform (“UTP”) to E Quote via its ASP solution.

E Quote plans a phased online release in January 2001, offering the “high speed,” browser-based, FX dealing platform to new and existing clients. E Quote will offer a full range of dealing options, which will allow users to trade in a manner previously only available to Major Banks. Not only will users be able to request spot quotes, they will also be able to execute “speed trades”, submit “speed orders”, choose six different order types, split trades, deal in forwards and swaps, monitor real time profit and loss, order status and for the very first time, also deal with a live “virtual market”.

The “virtual market” component provides traders access to a central pool of liquidity that enables them to trade actively with other traders, organizations and liquidity providers; prices displayed will be instantly tradable. All participants will become “market makers” and “market users” at the same time.

"This agreement with E Quote FX is particularly exciting for FMS in that it takes us directly into the online retail arena. FMS has been committed to providing leading edge products to the on-line industry and believes this overlooked sector of the market has enormous potential. We are confident that our relationship with E Quote FX will raise the bar in online FX trading, both in terms of efficiency and customer service", said Scott Wilson, President of FMS.

The foundation of FMS’ technology is the Universal Trading Platform (UTP), an Internet-based dealing platform that provides a highly scalable system allowing many users the ability to access and execute trades. The UTP is designed to provide a cross-product trading platform that will ultimately allow users to trade FX Spot, Equities, Forwards, Options, Futures, Precious Metals, Commodities and virtually any other financial instrument by accessing the UTP through a single website.

The UTP is available to Financial Institutions either as an ASP solution over a secure server farm located in Seattle, or as an internally licensed software solution. The system’s unique design further allows for multi-user capability, a feature that will provide E Quote the ability to link fragmented pools of liquidity to create a common market.

“We cannot speak too highly of our alliance with FMS. They were the only company that met our rigorous demands. We not only required a technologically superior and scaleable platform but also, advanced and on going tech support and the ability to meet our time frame for delivery of product to the market place. All were accomplished with enthusiasm and expert professionalism. We are confident that due to the efforts of FMS, E Quote is now positioned to spearhead a wave of superior platforms, where the ultimate winners will be the clients", said David Dowell, E Quote FX Corp.

The Company has an agreement that allows it to acquire all of the issued and outstanding shares in FMS from its existing shareholders. The completion of this transaction will result in a reverse-take-over of the Company, requiring both exchange and shareholder approvals.