IMTRADER INTRODUCES ALGORITHMIC TRADING OVER THE AOL® INSTANT MESSENGERTM (AIM®) SERVICE

For the first time, buy side and sell side traders can now perform
algorithmic trading via instant messaging

Boston, Massachusetts - June 21, 2005 – IMTRADER today announced the launch of a new algorithmic trading capability for IMTRADER™, its’ AOL®-certified communication, trading and research distribution platform. The IMTRADER Network provides enhanced communications, electronic trading and research distribution among buy side and sell side members.

IMTRADER has extended its ability to connect the AIM® service to FIX (Financial Information Exchange) to support placement of trades that are executed using a broker’s algorithmic execution systems. By leveraging the ubiquity of the AIM service on buy side desktops, IMTRADER can provide an electronic front-end to a broker’s algorithms. IMTRADER supports multiple algorithmic strategies and provides the ability to supply the parameters for each strategy. Since each broker has its own set of algorithms, IMTRADER transmits the data via FIX to the broker’s model to execute. IMTRADER’s FIX-based integration of its algorithmic offering is seamless and easy to integrate.

"In response to increasing customer demand, we’ve developed an algorithmic trading offering that provides yet another tool for traders to manage workflow and focus on more difficult orders and trading strategy," explains Furqan Nazeeri, CEO of Pivot Solutions, "We are currently offering the service to select beta customers and plan to make it widely available in the third quarter of this year."

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