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Microgen delivers Cortex+

2 May, 2006

A next generation derivatives product for metals exchanges

Microgen today announces the latest release of its derivatives software, Cortex+. Microgen Cortex+ is the next generation of web enabled derivatives software and provides a comprehensive global trading solution. It is configured to operate effectively in any metals or plastics exchange worldwide. The Cortex+ predecessor, Cortex, has been used extensively in the London Metal Exchange for over twenty years and Cortex+ incorporates this experience into the latest high performance architecture.

Cortex+ provides full derivatives support, with real time position monitoring to assess in-house and client exposure. Cortex+ includes new functionality:

• Ring/Kerb and rapid trade entry - providing users with the opportunity to rapidly enter transactions across the web worldwide.

• Real time unmatched exception management monitor - reducing operational risk through continuous access to unmatched trades and exceptions.

• Management statistics activity monitor- broker performance monitoring, including trading and matching statistics and volumes.

“Microgen is pleased to have launched the latest version of Cortex, our derivatives trading product on schedule” said Elizabeth Sipiere Managing Director-Banking. “Cortex+ has been redeveloped using Microgen Aptitude and includes a host of new functionality and increased data input performance, so important to trading organizations in rapidly expanding markets. Cortex+ underlines Microgen’s continued support of the Microgen Cortex product, and our strong commitment to the derivatives market” she concluded.

Microgen is offering new and existing clients a phased migration strategy. This strategy allows customers to easily integrate each phase of the delivery, enabling users to become accustomed to the new product, reducing the operational and business risk associated with upgrading a mission critical system.