New FIX Enabled Electronic Platform Authorized for Trading at Mendoza Securities Exchange

23 July 2008

The Argentinean Securities Commission (Comisión Nacional de Valores) has authorized the use of “Oasis” —the new electronic trading system developed by Primary Trading Solutions (Primary) for Mendoza Securities Exchange (MVM)—, confirming that the development of electronic trading is a global trend. With a capacity to process millions of orders a day, this new platform is scheduled for release on August 4.

In 2007, Primary and Mendoza Stock Exchange executed a 10-year agreement for the development and operation of new financial platforms, products and services.

As a result of this initiative, the number of Securitys Brokers that trade at this exchange grew from 12 to 26 last year, with another 8 pending approval, and market valuation increased three-fold based on the expectations around it.

Mendoza Stock Exchange is the third market to be operated by Primary in Argentina, besides Rofex and MEC, which combined trade more than 11 billion dollars a month in futures, options and currencies.

“This new system is designed to make access to markets simple and widely available, and contribute to the future local and regional integration of exchanges thanks to its open architecture based on international standards like FIX -Financial Information Exchange Protocol-,” said Ignacio Plaza, Managing Director of Primary.

Director of Mendoza Stock Exchange Luis Abrego explained that “as is customary in the most developed exchanges, brokers will be able to receive orders via the Internet, mobile networks and other existing professional distribution networks –some with over 100,000 terminals, such as Bloomberg™ or Reuters™- which connect to the exchange, including international data vendors, global transactional connectivity suppliers and ISV’s.” “Initially, we will deploy an infrastructure with a processing capacity of 2,500,000 orders a day, i.e. around 10 times more than the total number of orders usually processed by Argentinean exchanges in the aggregate,” added Abrego.

Alfredo Conde, Director of Primary, emphasized that “this platform will enable investors to trade a wide range of assets, and to access real time information quickly and smoothly.”

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