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Macgregor Opens Office in Hong Kong—New Post to Support Local Clients, Boost Regional Expansion

February 4, 2003 – BOSTON/LONDON– Macgregor™, a global provider of buy-side trade order management systems (OMS) and FIX network services, today announced the opening of a Hong Kong office to support their local client base and accelerate regional expansion. Spearheading Macgregor’s efforts will be Arnaud de Herrypon, an industry veteran who held previous senior-level positions with Financial Technologies International, Bloomberg and the London International Financial Futures Exchange. Mr. de Herrypon will report directly to Kevin Milne, Macgregor’s Executive Vice President in London.

Mr. Milne commented, "Many of our large U.S. and U.K. based clients use our extended order management system to automate their trading on a global basis. This has resulted in a growing number of users for us in Asia-Pacific. We opened an office in Hong Kong to provide our clients with the localized support they deserve. We will be running our implementation, account management and sales efforts from our Hong Kong office and look to expand into other areas of Asia-Pacific in the near future."

Mr. de Herrypon commented, "Joining Macgregor is a fantastic opportunity. Electronic trading in this region is expected to grow exponentially over the next few years. Today, less than 20% of buy-side institutional orders in this area are being processed electronically compared with 80% in the U.S. I believe we will be very successful here with our product offering that includes the OMS, FIX Engine, FIX Network and all of the resources necessary to certify and maintain a client’s broker connections. Our solution makes it very easy for a buy-side firm to start trading electronically. With more than 140 brokers and ECNs available over our FIX Network, clients have instant access to a tremendous amount of liquidity."