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Kalahari continues to strengthen its global reach in Asia Pacific

London, Hong Kong & New York. 5th September, 2003. Kalahari, a global provider of real-time analytic and decision support solutions, as well as strategic consulting services to financial and energy trading institutions in over 15 countries, today announced that ICAP, theICAP world’s largest inter-dealer broker, has extended its global agreement to utilise Kalahari’s kACE™ pricing, analytics and decision support solution within their operations in Singapore, Hong Kong and Sydney. kACE will deliver Asean Options pricing at ICAP Singapore and Hong Kong, and Foreign Exchange and Interest Rate Derivatives pricing at ICAP Sydney.

ICAP is the world’s largest voice and electronic inter-dealer broker. Following the recent acquisition of the BrokerTec fixed income securities businesses ICAP’s average daily transaction volume is in excess of $500 billion, 40% of which is electronic.

Commenting on the extended agreement, Mark Webster, chief executive, ICAP Asia Pacific and Middle East said: "Our experience using Kalahari’s product kACE within our international operations has been exceptional. Kalahari not only demonstrates the highest level of industry expertise, but their team members thoroughly understand our business. Through the use of kACE we have a highly flexible and deeply functional tool that has the capacity to grow with our own business. These were just a few of the compelling reasons to extend our agreement with Kalahari." kACE is also in use at ICAP operations throughout Europe and North America.

kACE will deliver extended pricing and analytics capabilities for Asean Options at ICAP Singapore and Hong Kong for multiple currencies including: Singapore Dollar, Korean Won, Taiwanese Dollar and the Hong Kong Dollar. Furthermore, ICAP Sydney will use kACE for Foreign Exchange and Interest Rate Derivatives pricing for the Australian Dollar, New Zealand Dollar and the US Dollar, encompassing FRAs, Overnight Index Swaps, Interest Rate Swaps and Interest Rate Options.

"We are delighted that ICAP has extended the use of kACE to their brokers in Singapore, Hong Kong and Sydney," said Graham Mansfield, executive director, Kalahari. "Through kACE, our aim is to let the brokers at ICAP do what they do best – delivering superior broking services to their clients – while we continue to look after the supporting technology."

kACE offers customers the flexibility of selecting from a series of pre-built pricing screens, or provide the option of configuring their own using the in-built designer. Prices and calculations will be shared across ICAP’s network, allowing data to be analysed in various dimensions, enabling their brokers to slice and dice the data, to meet their specific needs, at any time.

"Extending our existing agreement with ICAP demonstrates the global strength of Kalahari as well as the strategic nature of our flagship application kACE within the financial services sector," said David Harrelson, global managing director at Kalahari. "The functionality of kACE is constantly developing and expanding as Kalahari responds to customer needs and relevant market trends. Asia Pacific is an important geographical region for Kalahari and our agreement with ICAP reinforces our ability to deliver world-class pricing and analytical solutions to regions with huge business potential."

kACE is the industry’s leading real-time price discovery, analytics and decision support solution designed for enterprise-wide use at broking firms, banks, energy/utility firms and other financial institutions and corporations. kACE has been designed with flexibility in mind, and allows bespoke design for each customer and individual end-user requirements. With over 1600 calculations embedded in the system from the best maths library experts in the industry, along with Kalahari's own libraries, kACE is capable of pricing the most complex financial instruments currently traded within the financial markets. kACE captures real-time data from a number of diverse sources and massages that data into a common, useable format.

kACE creates an environment of control for every level within the trading room, ensuring that a firm’s traders/brokers are using the same basis for their calculations.