Wedbush Morgan Securities Implements Intraday RiskXposure from FTEN for Black Box Trading Clients

Business Wire, July 21, 2004

LOS ANGELES -- Real Time Risk Management from FTEN Enables Wedbush Morgan Clients to Maximize Profits

Wedbush Morgan Securities, the largest international clearing firm headquartered on the West Coast, today announced implementation of Intraday RiskXposure(TM) from FTEN to provide real time intraday risk management for black box, proprietary trading, and prime brokerage clients.

"Most black box trading models become ineffective with any risk management system that adds latency to processing times," noted Harvey Cloyd, Vice President at Wedbush Morgan Securities. "Intraday RiskXposure(TM) enables Wedbush Morgan to better provide intraday risk management for our black box clients and hedge funds without interfering with their fast-paced trading models. This allows us to expand our black box clearing business and increase the number of transactions we process. We will be rolling out additional Intraday RiskXposure(TM) features, such as real time P&L, over the next few weeks and months as part of our ongoing commitment to meet the needs of institutional clients."

Intraday RiskXposure(TM) from FTEN is a revolutionary new risk management service that provides clients with real time intraday risk management capabilities, regardless of which front-end trading, order or portfolio management systems they use. FTEN provides Intraday RiskXposure(TM) as a stand-alone, Web-based ASP offering that requires no integration with existing systems and introduces no latency into transaction processing. Intraday RiskXposure(TM) was developed by FTEN with valuable insight and perspectives provided by Wedbush Morgan regarding needs within the financial securities/prime brokerage industry for better real time intraday risk management capabilities.

WEDBUSH MORGAN SECURITIES (www.wedbush.com) has been a clearing leader for over 30 years and is the largest international clearing firm headquartered on the West Coast. Wedbush Morgan provides clearing solutions and prime brokerage for black box trading firms, retail broker dealers, investment banks, institutional firms, municipal bond underwriters, proprietary and professional trading firms, market makers, and hedge funds. Wedbush Morgan prides itself on providing value added service to each of its clients and correspondents throughout the world. With assets in excess of $1 billion, and with over $100 million in net capital, Wedbush Morgan Securities offers its clients the strength and stability they need to grow their business.

FTEN, INC. (www.ften.com) provides software and application services that enable financial securities firms to manage all aspects of their business in an integrated basis without requiring radical changes to established back-end processes. FTEN clients, located coast-to-coast and worldwide, use FTEN's technology to process over 1.2 Million transactions a day in more than five countries.