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FNX's Aspen Hedge Hires For Growth

Philadelphia, May 11, 2004 - FNX Limited (FNX), a leader in the delivery of technology solutions to the global financial markets, has hired Finn Christensen to head up the recently launched Aspen Hedge, the new hedge fund oriented operating division of FNX.

Finn Christensen joins as executive managing director of the Aspen Hedge team. Mr. Christensen has extensive executive management experience in the industry, and has worked with a number of prominent firms. He was most recently vice president and global head of sales for IQ Financial Systems. Prior to IQ Financial, Mr. Christensen was vice-president of sales and business development for DataSynapse. Finn also has held positions as global head of marketing and managing director of Asia Pacific for C-ATS Software, a publicly held trading and risk management provider, which was acquired by Misys. Christensen also served as a principal and director of risk management and derivatives trading systems at Fusion Systems Group, Inc. in New York.

Finn Christensen states: "I am delighted to be associated with such a strong new product. There has already been an impressive response from the market. I believe that, in Aspen Hedge, FNX have responded to market requirements to build the most comprehensive buy-side ASP solution available."

Farid Naib, FNX’s CEO says: "We are delighted to welcome someone with Finn’s skills and experience to the Aspen Hedge team. During his 15 years of experience in the industry, Mr. Christensen has held a variety of roles ranging from development to market to sales. Mr. Christensen brings a deep understanding of the market place and is an ideal choice to head up Aspen Hedge. "

FNX is planning to announce other new hires for the management team of Aspen Hedge shortly.