FNX Limited and Hotspot FX to offer real-time post-trade solutions for Foreign Exchange Market

Philadelphia, April 20, 2005 - FNX Limited (FNX), a leading provider of treasury and capital markets business technology solutions, today announced the development of the SierraLink FX adaptor, which will provide users with real-time, post-trade solutions for foreign exchange trades executed on Hotspot FXi, the premier foreign exchange trading marketplace.

The new SierraLink-Hotspot FX adaptor enables banks, hedge funds and other financial institutions to incorporate Hotspot FXi transactions into FNX’s solutions for consolidation, risk management, and post-trade reporting. It provides FNX’s customers with a consolidated view of FX trades executed across different execution engines for more efficient position monitoring and management.

The new link between FNX and Hotspot FX systems provides FNX customers with more accurate, real-time FX monitoring capabilities by integrating Hotspot FXi’s real-time, executable multibank market data into its solutions. FNX’s solutions, Sierra and Aspen Hedge, are connected to Hotspot FXi through SierraLink, FNX’s sophisticated, fault-tolerant, high-throughput, event-driven middleware platform. SierraLink allows seamless integration of any or all components of FNX solutions with third party and in-house legacy systems, facilitating straight-through processing (STP)

“Today more than ever connectivity has become a critical aspect of the trading cycle of our clients”, said Andrew Vickers, Chief Technology Officer, FNX Limited. “Our partnership with Hotspot FX and the availability of this new adaptor is a step further to our continued commitment to offer the processing and trading transparency our clients require to run a more efficient operation. With a flexible tool such as SierraLink, we have been able to connect FNX solutions seamlessly to the leading foreign exchange prime brokers, liquidity providers and execution engines like Hotspot FXi.”

“Our clients are increasingly trading FX in conjunction with other asset classes, therefore our link to FNX’s middle-office products provides important benefits in terms of a consolidated, risk management and reporting solution,” said R. Keith Lite, Director of Business Development, Hotspot FX, Inc. “In recent months, we have enabled clients to access our live FX marketplace via leading equities, futures, and algorithmic trading and order management systems. Underpinning this infrastructure with FNX’s suite of middle-office solutions is a natural next step.”

About FNX

Founded in 1992, FNX Limited is one of the world’s leading providers of treasury and capital markets business solutions for foreign exchange, money market, fixed income, equities, commodities, including exchange traded products and over the counter structured derivatives.

FNX provides risk management, accounting, and general ledger solutions that streamline mission critical operations for the domestic and international financial community. FNX solutions have been deployed globally for diverse clients such as corporate treasuries, trading firms, commercial and investment banks, hedge funds and prime brokers.

FNX Limited gives clients around the world a combination of market leading and best-in-class technology enabling maximized return on investment and lower total cost of ownership.For more information, please visit http://www.fnx.com/.

About Hotspot FX

Hotspot FX, Inc., which marks its fifth anniversary in 2005, operates the two leading spot FX marketplaces for institutional and retail market participants respectively. Both marketplaces provide anonymous, instantaneous, direct-access trading on live, executable, streaming prices supplied by leading foreign exchange banks and financial institutions. Trades executed on Hotspot FXi, Hotspot FX’s institutional marketplace, are cleared through a network of top-rated clearing banks and prime brokers. Trades executed on Hotspot FX, the company’s retail platform, are cleared through its regulated FCM. Hotspot FX provides connectivity to trade and order management systems, market data vendors and other platforms via its LiveLinksm proprietary API, which supports the firm’s FIX gateway as well as other connectivity protocols. Hotspot FX’s live foreign exchange marketplaces are available, or will soon be available, via leading trading and order management systems from Trading Technologies, Townsend Analytics, FlexTrade Systems, and Portware. Hotspot FXi market data is available from leading providers e-Signal FutureSource, DTN Market Access and Bloomberg L.P.

Hotspot FX is headquartered in Watchung, New Jersey, a suburb of New York City, with offices in Boston, Chicago, Singapore, Beijing, and London.

Hotspot FX is a registered service mark and LiveLink a service mark of Hotspot FX, Inc.