Pivot Appoints John H. Eley as Chief Executive Officer

10 December 2008

Pivot, Inc., the leading provider of IM-based collaboration, broadcast, and liquidity management tools for the professional trading community, today announced the appointment of John H. Eley as Chief Executive Officer. The addition of Eley to Pivot’s executive team of industry veterans, together with the November 2008 Pivot 360º release, will continue to drive the Company’s rapid growth in the equities, equity options, and commodities markets.

Eley has held key management positions at a variety of financial and financial technology companies over the past 20 years. In 2002, Eley was appointed President and CEO of Hotspot FX. Under Eley’s successful leadership, the company quickly expanded its revenue base and became the leading online foreign exchange marketplace. Hotspot FX was then sold to Knight Capital Group in 2006. Previously, Eley was the CFO of OnExchange, a futures industry software provider, and worked with Cantor Fitzgerald/eSpeed and Citibank in senior trading, portfolio management, investor relations, IT, business development, risk management, and investor relations positions.

“John has the experience and domain knowledge to lead Pivot in its next phase of aggressive growth,” said Steve Murray, partner at Softbank Capital and a Pivot board member. “The recent dislocation in the financial markets has created a unique revenue opportunity for companies like Pivot that can add efficiency, valuable data, and control to the trading activities of financial professionals across a variety of asset classes.”

The latest release of Pivot 360º extends the Company’s focus on serving the specific communication, collaboration, and liquidity management needs of the trading community while easing IT concerns on compliance, security, and administration. The release greatly enhances advanced liquidity management and data analysis functionality and multi-network reliability for the natural gas and oil trading communities. In addition, the Company migrated to its next generation architecture, adding flexibility and speed in bringing new products to market and asset classes into the Pivot network.

“Pivot’s suite of collaboration, broadcast, deal capture, and liquidity management tools are used by thousands of trading professionals in the equities, equity derivative, and OTC energy markets. These tools bring incredible efficiency to their trading rooms,” said Eley. “Professionally, it is exciting to join a company that has such a dramatic impact on market efficiency and how these firms trade.”

Pivot’s investment in its established team and technology underscores the Company’s ongoing commitment to deliver best-in-class communication, collaboration, and liquidity management products that make it easier for users to find, share, manage, and act on liquidity. The Pivot network is one of the fastest growing trading communities with more than 5,000 members representing over 200 firms.

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