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Aurora Software launches trading platform for Mortgage Backed Securities

New state-of-the-art trading system is ideal for managing large portfolios in multi-user trading environments.

New York – November 5, 2001 – Aurora Software, provider of next generation fixed-income trading systems, today announced the launch of mortgage-backed securities (MBS) on the company’s WinFITS trading platform. The new system has already been deployed at some large trading institutions.

WinFITS is a highly sophisticated suite of fixed-income trading desk solutions for the Governments, Agencies, Secondary Corporates, Options and now Mortgage markets. These systems provide an integrated trading environment that includes multi-user portfolio management, real time pricing, risk management, security analytics and scenario analysis, as well as programmatic connectivity with other ECNs and electronic marketplaces.

Neil Arora, CEO of Aurora Software, said today, "The WinFITS trading platform was designed with the fixed income trader in mind. By adding support for Mortgage Backed Securities to the system, Aurora has moved one step closer to offering the entire spectrum of fixed income securities on a single platform."

Developed by traders, the new MBS platform is user-friendly and provides all the pricing, trade capture and position keeping requirements of a MBS trading desk. System highlights include:

-trade entry with support for TBA, STIPS and pools,
-user configurable views for position management,
-real-time pricing, position keeping and risk management,
-the ability to create pool buckets for easy pricing and risk evaluation,
-position-keeping and P&L tracking of CMOs, ABSs and other structured products,
-integration with INTEX and proprietary indicative databases,
-integral support for offerings, and
-integration with ECNs and other electronic marketplaces.

Besides providing a robust environment for traders, Aurora has enhanced its Web-based Sales Station, which allows salespeople to enter client trades and allocate trades between accounts. A new feature, similar to ‘Trade Web,’ allows salespeople to view their trader’s offerings and trade with them electronically on their client’s behalf.

Mr. Arora continued, "The demand for vendor-developed cutting-edge trading solutions has been very strong on Wall Street. Due to electronic trading, old proprietary systems have to be upgraded to accommodate the increasing volume. We are very bullish on our systems and believe that we have the solutions firms are demanding."