Prudential Financial Derivatives Licenses and Goes Live with Sierra FX Cash

Philadelphia, PA March 9, 2005 - FNX Limited, a leading provider of treasury and capital markets business technology solutions, announced today that Prudential Financial Derivatives has gone live on Sierra FX Cash at Prudential’s New York and London offices.

Prudential, a leader in the financial services industry, selected Sierra FX Cash for its connectivity, straight-through-processing capabilities, comprehensive functionality and robust technology architecture. With its high trading volumes and global operations, Prudential required a solution capable of handling trade data from a wide range of sources with the ability to provide position control and P&L information in real-time.

"After considering a variety of solutions, we chose Sierra FX Cash because it is designed to support high volume, transaction-based, global trading operations in a flexible, easy to use manner," said Kevin Kennedy, Chief Technology Officer, Prudential Financial Derivatives. "We now have access to real-time, global P&L on the Sierra Blotter and consolidated credit, trader and portfolio risk through the Sierra real-time Limits Engine." Kennedy added.

Lucian Lauerman, FNX Executive Director of Systems Integration added, "The Sierra FX Cash module is one of the most advanced solutions available. With strong real-time position and risk reporting, real-time interfaces to the major electronic brokerage feeds, and extensive retail capability, we consider the FX Cash space one of FNX’s key strengths. We are pleased with how both teams worked in partnership throughout the implementation."

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