Hedge Fund Luminary Capital Management Goes Live with FNX’s SierraASP

October 7, 2003, PHILADELPHIA -- FNX Limited (FNX), a leader in the delivery of trading and risk management solutions to the global financial markets, announced today that Luminary Capital Management, a recently-formed global macro hedge fund, based in New York City, is now live with FNX’s cross-product SierraASP. The hedge fund chose SierraASP to support its trade capture, risk management, and position keeping requirements after evaluating a number of IT platforms, none of which offered its breadth of functionality

Luminary Capital Management is the first FNX hedge fund client to begin operating on the SierraASP solution, and the first ASP client to use the full cross-product capabilities of Sierra. With the FNX trading platform Luminary Capital Management is supporting trading of foreign exchange (FX), FX options, equities, futures, exchange traded options, and fixed income. SierraASP enabled Luminary Capital to benefit from added functionality without having to build its own IT infrastructure.

According to Andrew Lum, partner, Luminary Capital Management, "By seeing our consolidated real-time positions we can closely monitor our portfolio management, risk, and P&L, resulting in a reduction of operational risk that will benefit our investors. Additionally, the FNX solution is an advantage we present to our prospective investors, because it is a world-class system deployed by some of the world’s largest banks."

Mark Mazzonelli, partner, Luminary Capital Management, said, "Our team can monitor portfolios anytime, anywhere, through any Internet-connected computer, so they are never out of touch. We are pleased with the sophisticated functionality as well as the well-thought-out support package incorporated in FNX’s ASP solution. FNX helped us to begin operating efficiently with all the capabilities we need to support trading."

Farid Naib, founder and CEO of FNX Limited said, "Hedge fund traders have to be intelligent, strategic and nimble to achieve their objectives. We are delighted that Luminary Capital Management recognized the power SierraASP brings to help them succeed."

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