IRIS FINANCIAL AND SoftSolutions! ANNOUNCE PARTNERSHIP

Integrated offering provides complete solution for connected electronic fixed income trading

30th June 2004 - TradeTech Fixed Income, Paris: For over a decade Iris Financial has provided the world’s leading investment banks with tailored trading and risk management systems built using its Java/J2EE Component Services Architecture (CSA) technology, and continues to build high-performance and high-volume solutions across the spectrum of asset classes for many of the largest global trading institutions.

Leveraging their extensive domain and technology expertise in the fixed income market, Iris Financial and SoftSolutions! announce today the launch of an integrated version of two of their products - combining Iris Financial’s Fixed Income Front Office, with SoftSolutions! XTrade!Square market gateway software.

The combined solution offers all the facilities required to operate in the fixed income market -from trade capture, pricing and risk through to quote management, and up-to-date maintained connectivity with sources of liquidity.

Iris Financial’s Fixed Income Front Office is built on the CSA platform, which provides high-performance, connected trading and financial management systems. This technology is currently being used to integrate SoftSolutions!’ widely used XTrade!Square software into a single system.

Michael Laven, CEO, Iris Financial says:
"Fixed income traders require a complete system that is always connected to all markets, in one package, so that they may benefit from the diverse number of exchanges in existence today.

SoftSolutions! have excelled at keeping a growing number of financial institutions connected to a large number of markets and meeting traders’ needs. Their products, services and expertise will allow our clients to experience a complete, logically integrated trading solution that is always connected to every source of liquidity in the market."

Roberto Cocchi, CEO SoftSolutions! said:
"The rise of electronic markets has immensely benefited traders by offering a competitive and varied range of execution points. High-performance, seamless integration with on-line markets is now an essential requirement. XTrade!Square provides an open solution that covers trader integration requests and permits traders to take advantage of on-line markets with an extensive range of easy-to-use tools.

Iris Financial has succeeded in delivering high-performance, reliable trading systems to the world’s top financial institutions for many years. We are excited at being able to combine our respective areas of expertise to offer the ultimate solution.”

XTrade!Square is in use at over 15 market makers across Europe, and connects to more than 15 sources of liquidity. Iris Financial’s solutions, based on the CSA, are currently in production at leading banks in both fixed income and equity markets. The combined solution will be available at the end of 2004.

Iris Financial are exhibiting at the TradeTech2004 exhibition in Paris demonstrating the Fixed Income Front Office

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