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FNX Expands its Global Reach to Greece, Cyprus and Italy with TransCredit Strategic Partnership

Philadelphia, April 16, 2002 – FNX Limited (FNX), a leader in the delivery of STP technology solutions to the global capital markets, announced today that it has entered into a partnership focused on bringing FNX’s best-of-breed treasury solutions to Greece, Cyprus and Italy with TransCredit, a privately owned international consulting firm.

FNX has greatly expanded its Global Partnership Program over the last two years by forming strategic partnerships with leading system integrators and consulting firms. Founder and CEO Farid Naib comments: "Our goal is to focus on continuously enhancing FNX’s region-specific sales, implementation, support, and system training capabilities. It is of the utmost importance that FNX continues to build and strengthen its global network of partners who know and can work with regional banking and financial institutions to deliver industry-leading STP treasury solutions. I believe that TransCredit brings an extraordinary combination of financial and technical expertise to the table."

For over 10 years FNX has been a leading provider of global Straight-Through-Processing (STP) solutions that offer clients best-of-breed, proven, high volume products which deliver trading, risk management, back office, and general ledger solutions. FNX recently introduced Sierra Treasury, a streamlined regional banking and treasury offering that provides full STP functionality never before available in traditional “off-the-shelf” products. TransCredit will focus on opportunities to deploy FNX's Sierra Treasury module to clients in Greece, Cyprus, and Italy.

Sierra Treasury was designed specifically for financial institutions that demand cross-product, STP coverage with reduced implementation and support needs. Sierra Treasury handles a wide array of financial products, including Foreign Exchange, FX Derivatives, Money Markets, Commercial Paper, Fixed Income, Commodities, and Interest Rate Derivatives.

"The continued growth of our Global Partner Program emphasizes the critical importance that FNX has attached to building a worldwide network of committed alliance partners," noted Martha Jaramillo, FNX’s Director of Channel Development. Farid Naib added: "Our partnership initiatives in Asia have been exceedingly successful to date. We are very excited that TransCredit has joined our Partner Program and we look forward to expanding Sierra Treasury's reach further into Southern European markets."