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Hermes Pensions Management Limited Goes Live on Macgregor Trade Order Management System

May 13, 2002 – BOSTON/LONDON – Macgregor™, a global provider of buy-side trade order management systems (OMS) and FIX network services, formally announced today that Hermes Pensions Management Limited (Hermes) has gone live on the Macgregor Financial Trading Platform™ (MFTP™). The implementation was completed in January with a total of 61 users. MFTP is being used for all types of trading including equity, fixed income, and derivatives. Hermes is also utilizing the system’s portfolio management and pre-trade compliance modules. Moving forward, Hermes is looking to add FIX capabilities and plans on implementing the Macgregor FIX Network (MFN).

Alan M. Cook, Project Manager, Hermes, commented, "This was one of our most successful system implementation experiences to date. We stayed broadly on time and on budget throughout the project. Macgregor’s technology has strengthened our order management process at every stage from modeling to trade confirmation. It has also facilitated the introduction of a Centralized Equity Dealing Desk."

Kevin Milne, EVP, Macgregor, stated, "Hermes was looking for a technology vendor who could work in partnership with their own team to manage the implementation process. At Macgregor, we have the expertise and resources to ensure successful system implementation, which means we can smoothly transition clients into an STP environment. We are delighted to have Hermes live on MFTP and look forward to bringing them FIX network connectivity to brokers and ECNs via MFN."