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Penson Canada selects FNX Solutions for FX Trading and Processing

Penson Canada selects FNX Solutions for FX Trading and Processing Philadelphia, June 7, 2006 – FNX Solutions (FNX), a leading provider of next generation technology solutions for treasury and capital markets, announced today that Penson Financial Services Canada has chosen the Sierra ASP solution to support its FX trading and back office operations in Canada and the U.S.

FNX, through its web-based Sierra ASP software, will provide real-time straight through processing, real-time margin utilization and position management for Penson Canada and its clients. Utilizing FNX’s proprietary leading middleware platform, SierraLink™, Penson Canada will interface in real-time with a variety of electronic trading platforms, achieving a seamless, automated and integrated processing environment. Electronically executed transactions and phone orders will both be consolidated in real-time on the Sierra ASP platform. Furthermore, Penson Canada will enhance its customer service by delivering electronic statements to clients detailing all transactions, margin utilization and P&L.

“We are very pleased to have Penson Canada as a new client,” said Ray
Krastins, Director of North American Sales for FNX. "Real-time
connectivity is key to the growth of their business and the flexibility of the SierraLink Architecture will quickly enable them to integrate to an ever-increasing range of systems using a variety of data formats and communication protocols. The end result is that traders and risk managers will see the risk, position and P/L impact of all of their trades, regardless of source, in one place, in real-time, allowing them to make better, more profitable trading decisions.”