FXall Press Release

FXALL SETTLEMENT CENTER TRANSFORMS FX TRADING FOR ASSET MANAGERS

Year-on-year volumes double
Third-party dealing drives fourfold increase in custodial notifications

16 January 2006 - FXall, the world's leading online foreign exchange platform, today announced that volumes on Settlement Center, its revolutionary suite of automated post-trade services, doubled in 2005. The annual number of events - including matches, confirmations, nets and third-party notifications - broke through 2.1 million as clients across all sectors turned to Settlement Center to handle the complexities of post-trade workflow.

In particular, FXall has witnessed a fourfold increase in custodial notification messages, which are used by asset managers to notify their custodians of trades with other banks. This exponential growth demonstrates that an increasing number of Settlement Center's asset manager clients have the confidence to trade FX with multiple banks and custodians in the knowledge that Settlement Center can handle the intricacies of the MT304, MT210 and MT202 message types.

Taeko Boyle, Head of Settlement at Daiwa SB Investments, said: "In the quest for best execution, many of our clients want the flexibility to trade FX with banks other than their custodian. Until now, notifying the custodians of these trades has been complex and time-consuming - particularly since every custodian receives notification messages in a different way. Now Settlement Center has automated the entire notification process, making it as easy to execute trades with third parties as with our clients' custodians."

Neill Penney, FXall's Global Head of Product Strategy, said: "We are extremely pleased with the continuing success of Settlement Center. In today's regulatory environment, it is impossible to ignore the benefits of automating back office processes. By automating manual middle and back office tasks into a single process, Settlement Center tightens internal controls and makes it easier to comply with best practice and best execution requirements."

About FXall

• FXall is the leading portal for online foreign exchange trading, offering customers foreign currency trade execution, access to research and straight through processing. By combining streamlined workflow, competitive FX prices and a complete audit trail, FXall delivers improved control and cost savings at every stage of the deal lifecycle.
• FXall provides customers with the ability to meet best practice guidelines prescribed by regulatory bodies - for more information visit: http://www.fxall.com/about/BestPracticeFX.pdf
• FXall is an independent company with offices in New York, London, Boston, Tokyo and Singapore.

FXall's services are not intended for, and are not available to, private customers, and are not intended for distribution into any jurisdiction where such distribution is restricted by law or regulation. FXall's services do not constitute investment advice or an advertisement, offer, or solicitation of an offer, for the purchase or sale of any investment, securities or other property, or a representation that any investment, security or other property is suitable for any person.

FXall may act through FX Alliance, LLC (a Delaware, USA limited liability company), FX Alliance Limited (regulated by the Financial Services Authority), FX Alliance International, LLC (ARBN 097 253 640, a Delaware, USA company, members' liability limited).

FXall, Altair, QuickFill, QuickOMS, QuickConnect, and all associated logos, are the trademarks of FX Alliance LLC.