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State of Michigan, Bureau of Investments, Selects Macgregor for Equity and Fixed Income Trade Order Management

June 5, 2002 – BOSTON – Macgregor™, a global provider of buy-side trade order management systems (OMS) and FIX network services, today announced that the State of Michigan has selected the Macgregor Financial Trading Platform™ (MFTP™) to automate its equity and fixed income trading. The State of Michigan has selected components including the Portfolio Manager Workstation, Advanced Fixed Income, and the Macgregor FIX Network (MFN). The system will be rolled out to 20 users.

Tom Smith, Head Trader, with the State of Michigan Bureau of Investments speaks highly about Macgregor. "System selection was critical for us because we did not want to go through the labor-intensive process of building an in-house OMS. We chose Macgregor because it is best suited to move us from paper to electronic trading and help us to better analyze our equity trading srategies." John Buck, Accounting Manager, expects positive results. "We are particularly excited about the robust decision support and portfolio rebalancing capabilities we’ll gain via MFTP," Buck says.

Steven Levy, President and CEO, Macgregor, stated, "The State of Michigan has entrusted us with replacing their paper trading processes with our STP-enabling OMS. The combination of our OMS and our FIX network will bring them the immediate benefits of electronic trading."