First Derivatives to manage Kx Systems New York Office

New York, NY - 9 October 2002

Kx Systems, leader in enabling international financial firms to meet the challenges of acquiring, managing and analyzing massive amounts of business data at extremely high speeds, today announced the opening of its mid-town Manhattan office at 245 Park Avenue.

The New York office is staffed by Kx's strategic partner for worldwide financial solutions, First Derivatives plc. Michael O'Neill, Operations Director at First Derivatives, heads the field office, which provides sales, services and support to Kx Systems financial services customers worldwide.

"We are pleased to open an office in the financial center of North America," said Janet Lustgarten, Kx Systems CEO. "Our increasing sales activity and expanding customer base call for a New York field presence." Headquartered in Palo Alto, Kx has offices in the UK as well as in New York and serves leading financial firms around the world. "With global firms, we often make an initial sale in one geography, and then our customer expands its use of Kx products into other regions," Lustgarten added. "First Derivatives, as our worldwide partner for financial services, now has enhanced capabilities for serving North American customers through the New York office."

"Although we have been successfully selling to and supporting East Coast customers for some time, it's exciting to demonstrate an expanded commitment to them with this new office, " said Michael O'Neill. "Our clients will continue to receive the specialized services and attention that they are used to in addition to an expanded presence right in their own backyard."

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