Patsystems (UK)

Buenos Aires

ACCESS TO FUTURES MARKETS:

US	CBOT CME NYMEX MGEX Eurex US OneChicago KCBT MexDer WCE
Europe Euronext.liffe	Eurex LME OMX ICE Futures MEFF IDEM
Asia	DGCX SGX JADE NCEL TGE KEX CCE TFX TOCOM Korea Exchange AFET HKFE TSE OSE SFE NZFOE

OVERVIEW

In addition to our advanced trading solution, we also provide end-to-end exchange technology built around the Patsystems Matching Engine. Customers include the Tokyo Grain Exchange (TGE), the Agricultural Futures Exchange of Thailand (AFET) and the National Commodity Exchange Ltd (NCEL) of Pakistan .

This end-to-end system automates all steps in the trade cycle, from front office through to back office, including: internet-deployable front-ends; order management, order routing and matching; risk management; member clearing and trade registration.

Additionally, Patsystems offers J-Clear: sophisticated processing power for exchange clearing and settlement. J-Clear enables straight-through processing of trades executed via the Patsystems platform. Widely used by Patsystems exchange customers in Japan and South Asia , J-Clear manages more than US$0.5 billion of funds every day with an annual transaction value over US$0.75 trillion.

NEWS

PRESS RELEASE

November 28 2007

Patsystems plc awarded the Front-End Trading System contract by China Foreign Exchange Trade System

Patsystems, a supplier of electronic trading solutions for the professional derivatives market, is pleased to announce that it has been awarded the front-end trading system contract and has entered into an agreement with the China Foreign Exchange Trad e System (CFETS) , a subsidiary of the People’s Bank of China . Patsystems is to provide CFETS with its front-end trading platform comprising its J-Trader front-end and its order and risk management system to the membership of CFETS. It will also provide CFETS and its members with access to the CME FX futures and options contracts through the Patsystems CME Gateway.

In addition to taking the front-end trading platform, CFETS will also take Patsystems’ advanced risk management solution, Risk Informer . Risk Informer will enable CFETS to monitor the risk across all of its members for all business submitted to the CME .

Kazuaki Takabatake, Patsystems Regional Director for Asia said:

" We have been looking into opportunities in China for the past 4 years and one of the key factors has been to find the right partner to work with. We are delighted to have signed this agreement with CFETS, a subsidiary of China 's Central Bank: People's Bank of China, as it represents a significant milestone with regard to Patsystems' ever growing presence in the Asia Pacific region."

PRESS RELEASE

Karachi , December 11 2007
National Commodity Exchange Limited (NCEL), an all-electronic derivatives exchange, today announced the date of its soft launch to be Friday, February 2, 2007 .

NCEL will commence trading with the listing of the 100gms 3-month gold futures contract which will be followed, over a period of time, by rice, sugar, wheat, cotton seed oilcake, crude palm oil and a range of other financial derivatives contracts. The launch of NCEL will signal Pakistan ’s formal entry into the global marketplace of electronic commodity derivatives trading.

Investors in Pakistan , with the commencement of operations of NCEL, will be able to participate in commodities which as an asset class have delivered strong returns in the last three years. Commodities offer a natural hedge against inflation particularly as the global demand for goods and services is increasing, leading to higher commodity prices.

As part of NCEL’s pre-launch activities, NCEL welcomed distinguished guests, Mr. Fred Grede, Former CEO, Hong Kong Futures Exchange Ltd., Hong Kong and Mr. Dennis Dutterer, Former CEO, Board of Trade Clearing Corporation, Chicago , USA . During their visit, they reviewed the entire operational set-up of NCEL and commented, “We believe the operations and risk management procedures of NCEL are very well designed, and would be ranked in the highest order when compared to international practices……..”

In response to these accolades Mr. Assim Jang, Managing Director, NCEL stated, “Designing technology driven processes and procedures was entirely an in-house effort and I would like to thank the entire NCEL team for their continued hard work and commitment to building an electronic derivatives exchange of global standards in Pakistan . The coming two months are a challenging and an exciting time for NCEL. We are all looking forward to commencing operations and are confident that NCEL is ready and primed to enter the Capital Markets of Pakistan.”