AXES Selects BNP Paribas to provide global post-execution services

New York - 13 August 2007

AXES, 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 appointed BNP Paribas Securities Corp. to replace Société Générale Securities Service as its strategic partner to perform clearing, settlement and custody services on a global basis.

BNP Paribas’ strategic position as the global provider of post-execution services to AXES, its clients, and broker partners complements AXES’ Global Execution Management System (GEMS) for electronic order entry, routing, execution and settlement tracking that standardizes and automates the entire cross-border trade life cycle. GEMS’ post-execution tracking feature automatically transmits all trade details to BNP Paribas, client and broker partner back-offices and their banking institutions, and provides real-time status to ensure accurate and timely settlement in all markets.

BNP Paribas is a recognized leader in providing solutions to a wide range of domestic and international clients. Through its wholly-owned subsidiary – BNP Paribas Securities Corp. – it provides a comprehensive range of global correspondent clearing services.

AXES is an electronic agency brokerage firm that provides institutional investors with cross-border trade execution and settlement tracking through its worldwide correspondent broker network. It has uniquely built strategic partnerships with leading brokerage firms in more than 100 countries with memberships to over 250 equity and equity-derivative exchanges worldwide.

“There is a growing market in US cross-border equity trading, and this market continues to be overcharged and under-serviced,” said Peter Gaffney, President of AXES. “AXES is changing this and has selected BNP Paribas because of its unique ability as a major global banking firm to provide a one-stop shop for post-execution services. This complements our robust, single point of entry solution for reaching the world’s markets. “Continued Mr. Gaffney, “BNP Paribas will enable AXES to provide the highest level of service not only to developed markets, but to emerging and frontier markets as well. They are expert at addressing inefficiencies and providing solutions in cross-border settlement across various countries and markets around the world.”

“We are delighted by this agreement, which underlines BNP Paribas’ expertise and ability to provide flexible, innovative solutions to meet the specific needs of each client,” commented Robert Farley, Managing Director at BNP Paribas.

“The global cross-border market for securities trades has grown significantly over the past 15 years, and this trend is set to continue,” Mr. Farley said. “BNP Paribas has one of the most sophisticated and top-tier global clearing and custody networks in the industry which will enable AXES to capitalize on this market opportunity and expand further the potential market for cross-border trading.”

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