Margaret Bailey Joins Smart Trade as U.S. Sales Manager

New York - 23 October 2006

Liquidity Management Systems (LMS) Leader Selects Software Sales Veteran to Lead U.S. Sales Operations in New York

New York, NY and Aix-en-Provence, France, October 23, 2006 – Smart Trade Technologies, Inc., the financial markets leader in liquidity management systems (LMS) for the capital markets, today announced the appointment of Margaret Bailey as U.S. sales manager. Bailey brings extensive experience in banking and a successful financial services sales background to Smart Trade where she will work with financial institutions, brokerage houses and exchanges to help them build their internal marketplaces and market-making systems across asset classes.

“Margaret is an excellent addition to the Smart Trade team,” said Harry Gozlan, CEO. “Her depth of banking knowledge in trading operations and wealth of sales solution experience, particularly with financial institutions and brokers, will enhance and deepen our strong relationships with our U.S. based clients and future partners.”

“The fragmentation of liquidity is an opportunity for the sell-side to create their internal marketplaces, or dark pools of liquidity, to better service their clients and optimize trading profits,” said Bailey. “Managing their flows is the key to controlling this liquidity, especially in relation to algorithmic trading. Smart Trade addresses the challenges that these institutions are facing in building their internal marketplaces, regardless of asset class.”

Bailey brings over 20 years of experience in financial markets and financial software sales. Her focus in sales has included the OTC prime brokerage area where she was sales executive with Traiana, Inc. and at Misys plc, where she focused on OPICS, their treasury and capital markets solution. She also spent 12 years in the banking industry at Générale Bank as controller and head of middle office operations and at SEB as assistant controller.

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