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Macgregor FIX Network Ranks #1 in European FIX User Survey

BOSTON--May 8, 2003--Macgregor(R), a global provider of buy-side trade order management systems (OMS) and FIX network services, today reported results from the European FIX User Survey 2002.

Carried out by DCE Consultants Ltd. on behalf of FIX Protocol Ltd., the European FIX User Survey 2002 was administered to 43 Institutional Fund Managers (Buy Side), 25 Broker-Dealers (Sell-Side) and 47 Vendors from across the UK and Continental Europe.

The Macgregor FIX Network (MFN) ranked #1 among 18 vendors in three different categories 1) Sell Side rating of FIX Network - technical performance, 2) Sell Side rating of FIX network - support staff and 3) Overall Sell Side rating of FIX Network.

Kevin Milne, EVP International, Macgregor, commented, "We work very closely with over 150 different Sell Side firms throughout the world on behalf of our Buy Side clients. The result is that we get to know these Sell Side firms' FIX capabilities inside and out. This ensures that when a buy-side client goes live on our OMS, they have plug-and-play connectivity with all of their brokers right away and we have the ability to support the connections from end to end. It's great to get recognized by the Sell-Side in Europe for our efforts in
this regard."