THE FUTURE OF JAPANESE eTRADING

800 Himawari Securities Inc clients go live with FNX’s e-Trading STP Application

Embargoed until May 24, 2001, Tokyo - FNX Limited (FNX), a leader in delivering financial technology solutions to the global capital markets, today announced that Himawari Securities Inc. (formerly Daiwa Futures Co. Ltd), one of Japan’s largest futures commission merchants, has successfully gone live with FNX to provide a Web-based FX eTrading solution to its clients.

As the competition for market share in Japan’s online trading arena escalates, Himawari Securities Inc. has implemented FNX’s Sierra Quantum to support its eCommerce initiative of becoming a leader in Japan’s rapidly growing online trading industry. Sierra Quantum, FNX’s Java-based order management system, supports the Straight-Through-Processing (STP) provided by FNX’s Sierra System.

Takashi Ozeki, Himawari Securities Inc.’s Financial Service Department Manager, says: " As the recognized leader in telephone-based FX trading, Himawari Securities Inc. was intent on harnessing the power of the Internet to provide our current as well as future clients with cost- effective order management automation, and enhanced client-centric services. We were also very focused on increasing our customer base by going to market with a strong eTrading product. FNX’s Sierra Quantum module handles all aspects of Himawari Securities Inc.’s customer order management functionality, including order entry and order status, real-time quotes and two-way timed quotes, margin status as well as position keeping. Additionally, our clients receive direct access to their trading accounts, and can monitor their account status, place orders, run activity reports, and view pricing, all in real-time."

Mr. Ozeki continues: "Early on, we recognized the need for a combination of sophisticated Internet-based STP applications that would enable low cost trade order execution and improved customer service, while providing fully integrated front, middle and back office operations. We evaluated all the leading suppliers and FNX offered us a proven product set with best of breed STP, full eTrading capabilities and leading edge, standards-based technology."

Farid Naib, Founder and CEO of FNX comments: "Given the enormous impact the Internet will continue to have on the global financial markets, the next logical step for FNX was to extend our core STP functionality thus enabling our clients to take full strategic and financial advantage of the Internet. Our Sierra Quantum eTrading product delivers functionality to a Web-based trading environment. FNX is providing the connectivity of Web-generated orders directly to the trader’s desk blotter and supporting the complete execution of the trades through confirmation to SWIFT messaging. We are offering our clients far more than just eTrading. By building a fully integrated and seamless Internet STP, we have created e2STP. Bringing Himawari Securities Inc. live together with 800 of its corporate and retail clients is continuing endorsement of our e2STP solutions."
FNX’s recently announced alliance with NextSet will accelerate the development of FNX’s next generation of Java-based eTrading solutions, that will provide enhanced, cross product functionality to buy-side and sell-side clients globally.
"Today’s leading capital market players demand specific, Internet-based, customer-focused products that provide cost effective and transparent workflow management environments," said Sean McDermott, FNX’s Managing Director, Asia Sales. "Himawari Securities Inc. set uncompromising standards to meet the requirements of their technology strategy. We are extremely pleased to see Himawari Securities Inc. go live with our eTrading STP solution, and we look forward to an ongoing relationship as Himawari Securities Inc. continues to evolve its e-Commerce strategy."

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