Prudential Financial Derivatives Licenses and Goes Live with Sierra FX Cash

Philadelphia, PA March 8, 2005 - FNX Limited, a leading provider of treasury and capital markets business technology solutions, announced today that Prudential Financial Derivatives has gone live on Sierra FX Cash at Prudential’s New York and London offices.

Prudential, a leader in the financial services industry, selected Sierra FX Cash for its connectivity, straight-through-processing capabilities, comprehensive functionality and robust technology architecture. With its high trading volumes and global operations, Prudential required a solution capable of handling trade data from a wide range of sources with the ability to provide position control and P&L information in real-time.

“After considering a variety of solutions, we chose Sierra FX Cash because it is designed to support high volume, transaction-based, global trading operations in a flexible, easy to use manner,” said Kevin Kennedy, Chief Technology Officer, Prudential Financial Derivatives. “We now have access to real-time, global P&L on the Sierra Blotter and consolidated credit, trader and portfolio risk through the Sierra real-time Limits Engine.” Kennedy added.

Lucian Lauerman, FNX Executive Director of Systems Integration added, “The Sierra FX Cash module is one of the most advanced solutions available. With strong real-time position and risk reporting, real-time interfaces to the major electronic brokerage feeds, and extensive retail capability, we consider the FX Cash space one of FNX’s key strengths. We are pleased with how both teams worked in partnership throughout the implementation.”

About Prudential Financial Derivatives

Prudential Financial Derivatives, LLC (PFDL) a wholly owned subsidiary of Prudential Financial, is a globally recognized full service FCM with operational centers in New York, Chicago and London. PFDL is a full clearing member of all US, UK and German exchanges and offers global access to all other major markets.

Prudential and its affiliate units have been involved in futures and commodities business for over 120 years. In 1981 Prudential Financial acquired Bache & Co., which was one of the oldest (1882) and largest commodities dealers in the world. This experience has allowed PFDL to gain a large institutional presence in the demanding pension, banking, hedge fund, CTA and commodity worlds.

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/.