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FNX announces promotion of Andrew Vickers to Chief Technology Officer

September 30, 2002 - Philadelphia, PA - FNX Limited (FNX), a leader in the delivery of technology solutions to the financial services industry, announced today the promotion of Andrew Vickers to the role of Chief Technology Officer. As CTO, Mr. Vickers will be responsible for all technical aspects of the software solutions developed by FNX.

Mr. Vickers has filled a variety of key roles at FNX Limited since joining in 1998. Initially the FX Cash Product Manager, he re-engineered the technical architecture of FNX’s Sierra FX Cash system to deliver a high performance, scalable solution that could meet the demands of the world's top FX market participants. As a Senior Project Manager, he spearheaded the implementation effort at some of FNX's largest global clients; and as Executive Director of Software Control, he introduced a number of innovative architecture and design features into the entire Sierra System.

Mr. Vickers came to FNX Limited from ABN-AMRO Bank, where he was Project Manager for the FX Options globalisation project. In this role, he was responsible for all aspects of the effort, including organizational changes, business process re-design, operations management, and technology analysis. Andrew also spent nine years as a Currency Options Trader, first for Continental Illinois National Bank and then at ABN-AMRO as the Deputy Head of FX Options trading.

FNX’s CEO and founder, Farid Naib, commented: "Andrew brings a wealth of business and technical experience to FNX. He is ideally suited to steer the technical direction of FNX's product suite into the future." Mr. Naib continued: "He brings not only the knowledge we require in a CTO, but also a highly procedural, process-oriented mindset that should strengthen all aspects of the technology development infrastructure at FNX. If we want to maintain our position as a premier provider of sophisticated global financial services solutions, we must continually strive to improve our product suite. I am confident that Andrew is the individual we need in place to lead this effort."