AXES Launches Global Execution Management System (GEMS)

New York, NY - 16 April 2007

Provides Cross-Border Trading to Developed, Emerging and Frontier Markets

AXES LLC, a leading global agency broker and pioneer in electronic trading access to the world’s developed, emerging and frontier markets, today announced that it has launched the Global Execution Management System (GEMS), a cross-border trading system that provides a single point of entry to an exclusive partner network of foreign brokers in more than 100 countries trading in over 250 equity and derivatives exchanges across the world’s developed, emerging and frontier markets.

GEMS is a multi-currency, multi-asset system that provides global trading functionality, straight-through processing and seamless integration with custodians and clearing agents. Institutional clients can connect directly to GEMS via an automated FIX interface or AXES’ graphical user interface. Orders are routed electronically to the AXES network broker in the destination market for direct execution on the local exchange or are managed by the local trading desk to minimize market impact. GEMS’ post-execution tracking feature automatically transmits all trade details to back-offices and banking institutions and provides real-time status to insure accurate and timely settlement.

AXES provides institutions with the efficiencies of GEMS automated process management combined with the trade execution services and back-office operations that are essential to global cross-border trading. AXES’ exclusive partnerships with leading local brokers around the world – each of which are direct members of their local exchanges – offer clients in-depth on-the-ground market intelligence. Clients also have access to the global research product created by AXES and its broker partners to identify new trading opportunities in the global markets.

“AXES enables institutions to trade in the developed, emerging, frontier markets through our exclusive worldwide partner network via a single point of entry.

GEMS empowers clients to more efficiently execute their global trading strategies by eliminating the need for multiple systems and relationships,” said Peter F. Gaffney, AXES president. “AXES is a closed network – with one broker in each country who is also a shareholder – so there are no opaque third parties or operational cost inefficiencies involved in an AXES trade.”

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