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FNX is a winner in The Banker Technology Awards

London and Philadelphia June 03, 2004 - FNX Limited (FNX) — FNX’s Sierra Treasury aced the competition to win the award for the most innovative solution for Treasury. At this year’s second annual The Banker Technology Awards FNX was named as the winner in the "Technology leaders in investment and wholesale markets" for Treasury category.

"Sierra Treasury is designed to be the leading multi asset STP platform. We have created a system that allows for true 3 way STP processing, front to back, cross product, and multi branch. FNX is committed to developing solutions which give our clients a competitive edge and offer a attractive ROI," said Farid Naib, FNX’s CEO "We want our clients to lead the market. I think that The Banker award reflects the level of development, care and dedication that our clients have come to expect from us."

Sierra Treasury is a unique cross product solution, offering extensive trading, accounting, risk management, and general ledger processing functionality for single and multi-subsidiary financial operations. Sierra Treasury offers an STP-enabled solution for a broad range of financial products, including: foreign exchange, foreign exchange derivatives, money markets, commercial paper, fixed income, commodities, and interest rate derivatives.

The Banker Technology Awards are now in their second year, with the goal of recognizing best of breed, innovation and success in financial technology. The Banker’s aim has been to highlight those vendors, large and small, who have made a real contribution to advancing shareholder value and customer service within financial institutions over the past 12 months. The Banker is part of the Financial Times Business Group.

Judges for The Banker Technology Awards represent a cross-section of financial technology expertise. They include: Chris Skinner, independent consultant, Balatro Ltd., research director, Shaping Tomorrow; John Stone, MD TowerGroup Advisory Services EMEA; Russell Simm director of technology and process design, Alliance & Leicester; John Brosky. MD EFMA (European Financial Management and Marketing Association); Bob Fuller, information technology director, Dresdner Kleinwort Wasserstein; and P.J. DiGiammarino, director of information technology, Barclays Capital.