FFastFill adds new electronic exchange connectivity into expanding market

Three new exchange connections were added to the FFastFill stable in the latest software release, bringing the total to 12 worldwide. The latest to be added are the International Petroleum Exchange, e-CBOT, and the London Metal Exchange (Select). The expanded connectivity schedules have been introduced in parallel with further enhancements to FFastFill’s software product suite.

Further exchange connectivity is planned as the inexorable transfer of derivatives trading to online exchanges continues. Europe is now almost entirely screen-based and as recent events have shown, North America is poised to make the switch to online trading. The potential of the huge Chicago markets will create major new opportunities for FFastFill.

The full list of exchange connectivity is:

- e-CBOT (inc a/c/e)
- Eurex
- Euronext.liffe inc equities
- Euronext Paris inc equities
- Euronext Brussels inc equities
- LME (Select)
- One Chicago

This investment in exchange software connectivity complements FFastFill’s introduction earlier in the year of a Service Level Agreement (SLA) driven managed service for the physical connectivity to a number of exchanges. This combination provides a unique service offering to the market allowing the trading community the widest range of product in the most flexible way, without having to make the high investment in their own technology.

In addition, further major enhancements have been made to the system during 2003 covering trading, risk management and order management functionality. These enhancements include a wide range of exchange and non-exchange defined trading strategies, order routing via FIX, the most comprehensive pre- and post-trade risk management including SPAN margining, and a complete multi-asset class trade tracking system. Most importantly this enhanced functionality has been achieved without compromising FFastFill’s legendary speed of execution.

FFastFill believes that the quality of its software as measured by reliability and deliverability is now starting to set a new benchmark for the industry. Following a complete overhaul of it’s development and release cycle at the end of 2002, FFastFill has delivered three quarterly releases to the market, each one being delivered on time and meeting all of it’s objectives in terms of functionality, reliability and performance.

As John Elmore, FFastFill’s CTO says, " The success of our software releases during 2003 are the result of the substantial improvements in our development process which we implemented at the end of last year. The latest release is the culmination of that process and demonstrates the latent capability of the software in delivering ever increasing functionality to the market. I am confident that this software can now take its rightful place as a market leader in the industry."

Ed Condon, Head of Listed Derivatives at Credit Suisse First Boston and an established FFastFill user, said "There has been a dramatic improvement in reliability over the past nine months. We are extremely pleased with the software."

Said Nigel Hartnell, Business Development Director "The company’s foresight in re-locating its development centre to Prague has allowed us to invest more effort than most of our competitors in increasing our software functionality. We estimate our software development productivity is now at least twice as good as our UK or US-based competitors. This advantage is now working through to the benefit of our customers as evidenced in the latest release of the software."

For further information, please contact:
Rostron Parry
020 7490 8062
John Parry/Lynda Babbs

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