FXALL LAUNCHES ALTAIR - More than 20 breakthrough features including QuickFill Extends FXall's leadership in online e-dealing with every customer class

New York, 17 November 2004 – FXall, the leading online foreign exchange platform, announced today the launch of Altair, a ground-breaking release of FXall incorporating more than 20 state-of-the-art new features for customers. Altair further extends the functionality of FXall’s full deal lifecycle automation for all institutional clients in the foreign exchange market.

FXall Altair continues FXall’s fast pace of innovation with more than 20 breakthrough new features which include QuickFill, Money Markets trading, an innovative ergonomic interface and advanced connectivity options in QuickConnect.

- QuickFill provides active traders with continuous streaming prices and unparalleled access to deep liquidity – with complete confidentiality - from FXall’s relationship banks.
- Money Markets trading introduces a new asset class which FXall has revolutionized by providing faster trade execution and automated workflow tools.
- QuickOMS introduces a leading edge portfolio trading system, supporting a wide variety of order management and execution styles that improve the efficiency of every asset manager.
- An innovative ergonomic interface puts everything in one place and cuts down keystrokes for common tasks. Customers have a better view of market prices and can access valuable new functionality all on one screen.
- Advanced connectivity options in QuickConnect, FXall’s award winning connectivity and STP service, through the addition of FIX to its roster of hundreds of connection options.

"QuickFill provides instant execution for even the larger sized trades. With one click we can execute seamlessly in fast-moving markets" said Michael Cairns, Trading Manager at FX Solutions LLC.

Cyril Cottu, executive director, Co-Head FX Asset Sales Europe, Goldman Sachs said "QuickFill delivers active traders what they want; continuous streaming prices offering significant liquidity in combination with the confidentiality provided by relationship banks - it’s unmatched in the market."

Alan Clarke, Managing Director, e-Commerce at HSBC Global Markets commented, "Money Market customers can look forward to benefiting from the same deal lifecycle automation that FXall deployed for foreign exchange. HSBC sees this as an opportunity to enhance dealing relationships whilst streamlining the workflow for both banks and customers."

Phil Weisberg, Chief Executive Officer of FXall, commented "With the launch of Altair we are further cementing our position as the industry leader and innovator. Altair transforms online trading today in the same way that FXall pioneered the switch away from the phone to online trading."

FXall Altair was designed using the input of FXall’s 700+ institutional customers and 53 liquidity providing banks. FXall remains the only platform to provide functionality to meet the needs of every customer class and extends its reach by packaging a host of customer-specific features into Altair.

Active traders, including hedge funds and CTA’s have joined with FXall to build QuickFill and made it unique versus other market offerings by ensuring transaction details are kept completely confidential and never published to the market.

QuickFill can be accessed via Altair’s innovative new order management tools that enable customers to automate how and when deals are entered into the market. QuickFill is offered side by side with QuickTrade, FXall’s established market leading trading tool, which continues to deliver automated prices in lesser traded and exotic currencies, the flexibility to direct large transactions to a particular provider and the ability to roll trades forward. Third party trade notification, for example to prime brokers, is done automatically for every QuickFill trade.

Asset Managers can automate the most complex workflows using the new QuickOMS portfolio trading system in Altair. Automated deal notification to custodians and a Settlement Instruction Database have been added to Settlement Center to ensure Altair delivers complete end to end automation for asset managers.

Corporations, for the first time, can access the Money Markets using Altair’s revolutionary new automated trading system. It’s built into Altair’s innovative ergonomic interface that enables corporations to monitor the market, trade, and review details of executed trades from a single window. Altair introduces the ability to enter user defined forward dates into the IQ panel for monitoring and trading purposes.

Altair technology enables FXall to deliver custom solutions for every institution. As an example, Broker Dealers now have the ability to utilize Altair’s breakthrough new functionality to create unique, customized offerings for distribution to their clients.

Earlier this year FXall was ranked as the number one multibank portal in the Euromoney forex poll for the third year in a row.

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