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FNX licenses Suite LLC Analytics

Philadelphia, June 30, 2004 - FNX Limited (FNX), a leader in the delivery of technology solutions to the global financial markets, announced today that as part of a strategic product initiative, FNX has licensed financial analytic models from Suite LLC (Suite). The analytics are to be used in a new Sierra Advanced Derivatives Module.

With this license, FNX will offer an Advanced Derivatives Module (Sierra ADM) providing its clients full deal capture, sophisticated analytics, back office processing and accounting. With the integration of the FNX and Suite products, the Sierra product will offer pre-execution pricing and hedging as well as counterparty credit exposure analysis, sophisticated risk management, curve generation and scenario analysis tools on a wide variety of financial products. With over forty derivatives types supported ranging from swaptions and multi- leg swaps to the more sophisticated products like Sticky and Chooser/Survivor Cap/Floor/Collars.

The functionality will be integrated to two of FNX’s flagship products, Sierra and Sierra Treasury. The availability of this module will further expand Sierra’s already extensive product coverage.

Farid Naib, FNX’s CEO and founder commented: “We are pleased to have signed this agreement with Suite LLC. Suite is a very well positioned and respected company in the derivatives analytics arena. Integrating their products into Sierra and Sierra Treasury will allow FNX to bring additional services and functionality to current and future clients. ”.

Gerard Galluscio, Suite LLC’s co-founder and managing partner added, “FNX’s and Suite’s products complement each other. FNX is a long time player in the market and FNX’s Sierra products have re-defined the concept of STP processing. Suite has developed a product that can satisfy the pricing needs of the most sophisticated derivatives operations in the market. The combination will allow FNX to offer its current leading STP technology to the advanced derivative market. I am confident that the expertise we both bring to the table will open great opportunities for our companies”.