FlexTrade Opens Office in Chicago

Business Wire, April 10, 2008

Ted Bilharz Appointed Vice President, Options Sales

GREAT NECK, N.Y. -- FlexTrade Systems, Inc., a global leader in broker-neutral, multi-asset algorithmic trading systems, today announced the opening of a field office in Chicago. Located at 200 South Wacker Drive, the office will be managed by Ted Bilharz, who recently joined the company as Vice President, Options Sales, after a nearly thirty year stint on the floor of the Chicago Board Options Exchange (CBOE).

"Considering the growth of algorithmic trading in the derivatives market, it was only natural that we would establish a physical presence in a primary hub such as Chicago," said Vijay Kedia, President and CEO of FlexTrade. "As such, Ted's background and experience with the CBOE makes him the ideal choice to spearhead our efforts in this area."

As head of the Chicago office, Bilharz is primarily charged with expanding the reach of FlexOPT, the company's algorithmic options trading solution, which is currently used by leading sell-side institutions for principal and agency trading, as well as leading buy-side institutions and hedgefunds. Some of the features offered by FlexOPT include:

* One-click trading for single or multiple options as well as multi-leg trading strategies.

* In-bound FIX interface for DMA or algorithmic orders.

* Integrated smart routing, sweeping.

* Real-time Greeks calculations with discrete or continuous pricing models (Black-Scholes, Binomial, Adesi-Barone-Whaley or a client's own convexity model).

* Rules-based strategies that provide algorithmic executions and automated market making with real-time risk control.

* Full integration with the FlexTRADER, FlexFX and FlexFutures trading solutions, giving traders the ability to trade across multiple asset classes.

About FlexTrade Systems, Inc.

Founded in 1996, FlexTrade Systems Inc. is the industry pioneer and global leader in broker-neutral algorithmic trading platforms and execution systems for equities, foreign exchange and listed derivatives. FlexTRADER, our flagship platform for algorithmic trading, is widely viewed as unique in the industry for its high performance and multi-asset capability. With offices in North America, Europe and Asia, FlexTrade has a worldwide client base spanning more than 120 buy- and sell-side firms, including many of the largest investment banks, hedge funds, asset managers, commodity trading advisors and institutional brokers. Clients include Bank of America, Bank of New York, Barclays Global Investors, HSBC Investment Bank, Jefferies & Company, Inc., Sanford C. Bernstein & Co., LLC, UBS Global Asset Management and Wachovia. For more information, visit FlexTrade Systems at www.flextrade.com.