Charles River and FutureTrade Integrate Systems to Offer Seamless Liquidity Access

Burlington, Mass. and Lake Forest, California (January 28, 2004) Charles River Development, a leading provider of financial software and consulting services to the global investment management community, and FutureTrade Technologies LLC, a leading provider of electronic trading tools and execution services to institutional traders and hedge fund managers today announced a partnership to integrate their software systems. Using the FIX protocol, the two firms have integrated the Charles River Investment Management System (Charles River IMS), a comprehensive software suite for portfolio management, order management, and compliance with FutureTrades direct access trading platform. As a result, equity and option securities orders created in or executed by FutureTrade will seamlessly appear in the Charles River IMS trading blotter. The integration eliminates the need to rekey data and significantly reduces the potential for error.

"We are pleased to partner with FutureTrade and offer our clients another high quality option for direct access trading, said Peter Lambertus, Charles River president and CEO. This interface is illustrative of our ongoing commitment to offer our clients choice and flexibility in liquidity access and workflow solutions.

We are delighted to offer Charles River clients the opportunity to seamlessly trade with FutureTrade, said Murray Finebaum, FutureTrade president and CEO. This is another example of our leveraging the integration capabilities of our platform based upon our customers feedback.

FutureTrade is easily configurable to accommodate individual user workflow and offers fast execution on multiple venues including ARCA, INCA, INET, IDOT, SMTG and all five major US Options Exchanges. The blotter-to-blotter interface between the two systems is available in versions 6 and 7 of Charles River IMS.

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