News Release

FXMarketSpace Names Harris as Head of Sales, Americas

Mon Sep 25 2006

CHICAGO, LONDON, and NEW YORK, Sept. 25 /PRNewswire/ -- FXMarketSpace, the first centrally-cleared, global, foreign exchange (FX) platform, today announced that it has appointed Phillip E. Harris as Senior Vice President and Head of Sales, Americas. Harris, 36, will be based in New York and will report to Rick Sears, President and Chief Sales Officer, FXMarketSpace.

Harris joined FXMarketSpace from CME where he was Director, Foreign Exchange Products. In that role he worked to enhance customer relationships in order to build and maintain liquidity in CME's FX market. Prior to CME, he served as Senior Sales Manager for Lava Trading, where he was responsible for selling Lava's FX trading platform to commodity trading advisors, hedge funds, asset managers, overlay managers, global macro funds and third party vendors.

"Having hired Phil at CME, I'm looking forward to working with him again as we build FXMarketSpace's presence in North America," said Sears. "As a seasoned FX market participant, Phil has seen our market grow and evolve into an asset class. He understands how our platform uniquely meets the needs of today's market."

FXMarketSpace also announced the initial members of its North American sales team. Bill Castellano, 41, has joined as a Vice President, Sales. Castellano previously spent 14 years as a sales specialist with Reuters where he played a central role in helping to establish a U.S. franchise of electronic FX trading products including automated dealing, limit order management, FX distribution and post-trade messaging.

Jena Axelrod, 32, has also joined FXMarketSpace as Vice President, Sales. Axelrod was previously a sales executive at Super Derivatives where she was responsible for managing a global sales team on a number of major accounts, selling FX, interest rate, equity and commodity derivatives software.

Both Castellano and Axelrod will be based in New York, reporting to Harris.

About FXMarketSpace

FXMarketSpace, a 50/50 joint venture between Reuters, the global information company, and CME, the world's largest and most diverse financial exchange, will be the first centrally-cleared, global, over-the-counter foreign exchange (FX) marketplace. FXMarketSpace will be the first FX platform involving the entire spectrum of market participants including global and regional banks, asset managers, corporations, hedge funds and other market makers. The platform will combine CME's central counterparty model and clearing function with Reuters straight-through processing capability. The result will be a platform that is uniquely positioned to reduce risk, provide deep liquidity, anonymity, price discovery, and cut costs and increase efficiencies for inter-dealer and institutional foreign exchange transactions. For more information on FXMarketSpace, please visit .

SOURCE: FXMarketSpace

CONTACT: Pamela Plehn of CME, +1-312-930-3446, or , or
Andrew Waterworth of Financial Dynamics, +44 207 269 7127, or , or Steve Clarke of Reuters, +44 20 7542 6865, or , or Amy Rosenberg of Financial Dynamics,
+ 1-212-850-5615, or

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