HEADSTRONG SIGNS PARTNERSHIP AGREEMENT WITH ALERI TO CO-DEVELOP MIFID SOLUTIONS FOR THE CAPITAL MARKETS INDUSTRY

Fairfax, VA - 29 March 2007

The partnership will provide EU capital markets with solutions that address the technology requirements of MiFID.

Headstrong, a global consultancy, announced that it has signed a partnership agreement with Aleri Inc., developer of high performance event stream processing software, to co-develop MiFID-compliant solutions for the European capital markets. The European Commission has put in place far-reaching changes to the structure of its capital markets, particularly the equities markets--the Markets in Financial Instruments Directive (MiFID), which will go into effect in November 2007.

MiFID drives towards more unified European markets with greater convergence in terms of business practice, market structure, and regulation in member states. The primary goal is to create a more efficient, transparent, and just market for investors.

Given the limited time for Banks to comply, Headstrong recommends its clients focus on certain identified key areas for MiFID readiness. Headstrong’s focus cover key areas in the entire trade flow including Best Execution, Multilateral Trading Facilities (MTFs), Client Suitability, Transaction Reporting and Record Keeping. Headstrong’s proven program management, process and methodology and domain expertise on MiFID compliance and pre- and post-trade compliance both onshore and offshore, when combined with Aleri’s innovative event processing software, will produce a best-of-class solution to help investment firms bridge the gaps in reaching a MiFID compliant state.

Headstrong uses its domain expertise in the Capital Markets space to leverage existing frameworks that it has built like STRIDEâ„¢, to enable banks to cut their time to compliance.

Headstrong has implemented a best execution solution framework using the Aleri Streaming Platform for both pre- or post-execution scoring. The Aleri Streaming Platform is tuned to process the high volumes of data that MiFID compliance will generate as well as provide the ability to quickly adopt changing business rules, a critical feature when the regulatory environment is still evolving.

Headstrong is getting tremendous traction in the MiFID space in Europe. “Headstrong is very excited to partner with Aleri as we have successfully developed a joint Proof of Concept showcasing Best Execution knowledge within MiFID utilizing the Aleri streaming technology platform for a client--a global investment firm operating in London,” said Sameet Gupte, Regional Director for European Operations at Headstrong. “We estimate that by the end of Q1, four to six major banking and investment firms will be looking at our MiFID offering for their MiFID requirements.”

“We are excited to be working with Headstrong on MiFID based projects. The 1st November deadline is rapidly approaching and many organizations are well behind in their preparation. The combination of Headstrong's expertise and deployment capabilities in Financial Markets and Aleri's technology provides an attractive solution for addressing the key areas of MiFID such as ‘Best Execution’ where there are serious technology challenges associated with meeting the requirements. We believe there are a number of organizations who will achieve a competitive advantage over their peers by implementing advanced MiFID solutions, “ says Nick Deacon, SVP of Operations at Aleri.

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