FPL Responds to SEC Concept Release on Securities Transactions Settlement

New York, June 23, 2004- FIX Protocol Limited (FPL) is pleased to announce that they have filed their response to the recent SEC Concept Release entitled Securities Transactions Settlement. This is the first time that FPL has responded to an SEC Concept Release. The response was prepared under the leadership of the Americas Business Practices Subcommittee headed by Erick Valdes of Deutsche Asset Management and Greg Arnold of Lehman Brothers. FPL’s response supports the goals set forth in the Concept Release which include improving the speed, safety and operational efficiency of the U.S. clearance and settlement system. FPL proposes the use of the FIX Protocol to facilitate straight through processing and to reduce risk. The response is posted on both the FPL website and the SEC website.

Contact
Mr. Peter Randall at: + (44) 778 654 3388 (FPL Executive Director)
Mr. Tom Jordan at: +1 (212) 652-4469 (FPL Program Office)


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