Wombat Names Paul Mullan Senior Solution Architect

Former First Derivatives Vice President of Financial Engineering a Strong Addition to Wombat’s Development Team

Incline Village, NV, January 24, 2005 – Wombat Financial Software announced today that Paul Mullan, recently vice president of financial engineering at First Derivatives, plc (LSE:FDP), has joined the firm’s development team with the title of senior solution architect.

According to Ron Verstappen, Wombat CEO and president, "Paul comes to Wombat with a very strong reputation as a real-time trading system architect gained in New York while working with the Kx Systems kdb/tick architecture. During his time at Kx, he was accredited with designing and implementing a number of the largest tick-capture systems in the industry, including historical archives and real-time algorithmic trading engines. We plan to leverage this experience to extend our range of products for integrating low latency market data with the new generation of tick capture and analytics engines."

During his four-year tenure at First Derivatives, Mullan handled pricing model integration for a UK financial software company, developed a middleware product for a major Dutch bank, helped develop an ASP- and JSP-based financial web portal and CRM system, and developed a calculation server and messaging layer for a US financial software company dealing with interest rate derivatives. He also managed development of an on-line FX and money-market trading system used by Singapore-based companies and banks and, as the lead US-based consultant for Kx Systems, the "vector" and time-series database firm. During this time, he was involved in numerous projects for major investment banks and hedge funds that included building several large tick-capture systems, development of automated and manual trading systems and risk management and position management tools.

Before joining First Derivatives in 2000, he held engineering development positions in Northern Ireland at B.I.C. Systems Group Limited, recently acquired by BT Northern Ireland, and Lution, an e-commerce incubator. From 1995 to 1998, he worked closely with non-profit organizations in Northern Ireland, Finland and India.

He earned a BA in mathematics from St. John’s College, Oxford University in England.

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