Proven Standards-based J2EE Platform Slashes Cost, Development Time, and Risks
of Capital Markets Trade Processing Systems

CAMBRIDGE, Mass., February 4, 2003 – onExchange, Inc., a leading provider of clearing and trade-processing technology, today announces the release of onExchangeSM Core, a standards-based J2EE trade- processing engine and related modules designed to significantly accelerate the development of capital markets transaction-processing systems. Using Core as a foundation enables capital markets firms to custom build global back-office infrastructures with significantly reduced development time, cost, and implementation risk.

Core is an advanced, real-time trade-processing engine that supports all capital markets transactions on a single platform. Core can be used by banks, broker-dealers, clearing firms, and other large transaction-processing firms to build fully integrated securities and derivatives-processing systems. Core includes many innovative features such as the ability to rapidly configure the system without any programming or system downtime. The Core platform supports rapid integration with other systems through industry-standard interfaces, protocols and methods such as XML, FIX, ISO 15022, SWIFT, and MQSeriesTM.

Developing a comprehensive transaction-processing system based on Core offers several benefits to capital markets participants. Using a proven, high-performance, off-the-shelf trade-processing engine as the foundation for a custom-built system minimizes cost and maximizes return on investment. A Core-based system implementation frees development resources that can be deployed to build custom business logic, user interfaces and system integration. This development strategy speeds time to market, and minimizes implementation risk.

"Core provides a proven framework and foundation for custom building global back-office systems in the compressed time frames demanded by capital markets today," said onExchange CEO Richard Jaycobs. "Building a trade-processing engine often accounts for one-half of the development timeline for a capital markets back-office solution. That part of the timeline can be virtually eliminated using Core."

The system will be marketed to banks, custodians, broker-dealers, prime brokers, securities and futures brokers/clearing firms that are developing integrated securities and derivatives back-office capital markets systems.

For more information, please contact:
Peter Burton
Delta Markets Group
+1 212 627 4868

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