BNY Brokerage Links Its DEx Trading Platform to the Macgregor XIP Orde

    Business Editors

    NEW YORK--(BUSINESS WIRE)--Jan. 3, 2005--BNY Brokerage(SM) Inc., a member of BNY Securities Group and subsidiary of The Bank of New York, has linked its DEx(SM) (Direct Execution Services) trading platform with the Macgregor XIP Order Management Network(TM) (OMN(TM)), expanding the trading capabilities of Macgregor's clients and giving them electronic direct access to all electronic markets.
    The integration gives Macgregor's clients direct market access by allowing them to direct order flow from XIP on their desktops through BNY Brokerage's DEx platform. Money managers using XIP can now efficiently access the SonicPort(SM) front-end to work orders directly into the marketplace to reach all points of liquidity including ECNs and Nasdaq's order routing systems, as well as the NYSE and other exchanges.
    Through this integrated platform, clients can take advantage of the full range of SonicPort's services, including sophisticated trading order types, such as pegging and discretion; a proprietary smart order routing algorithm; web-based trade data reporting; built-in risk management tools; a FIX API connection; and a dedicated and professional trade support unit. In addition, BNY Brokerage's proprietary algorithms are available through SonicPort, as well as directly through Macgregor XIP.
    Stephen Alepa, executive vice president of Macgregor, said, "We continue to offer our clients additional ways to improve their execution quality. Our clients are excited to integrate Sonic's sophisticated direct market access tools, including market aggregation and smart routing, into their workflows. Our clients also appreciate the ease with which they can access Sonic from our OMN and the end-to-end support we can provide for the solution."
    BNY Securities Group is the global agency brokerage, clearing and financial services outsourcing sector of The Bank of New York Company, Inc. It provides institutions, broker-dealers and corporations with a broadly diversified suite of services and "The Power of Choice" through multiple business models. Through its broad range of businesses, BNY Securities Group offers creative solutions in trade execution, commission management, independent research, securities clearing and financial services outsourcing. BNY Securities Group is the largest provider of commission management services, has 21 New York Stock Exchange seats, and offers global execution and clearing services in over 80 markets with offices in the U.S., Europe, Asia, and Australia. BNY Securities Group is an organization consisting of several broker-dealers and other companies. BNY Brokerage Inc. is a member of NYSE/NASD/SIPC.
    The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global financial institutions, asset managers, governments, non-profit organizations, corporations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.
    DEx, SonicPort, and BNY Brokerage are service marks of BNY Brokerage Inc.

    About Macgregor

    Founded in 1991, Macgregor(R) has set the standard in investment technology for the global buy-side community. Macgregor's unique architectural approach to developing workflow solutions is embodied in its Order Management Network(TM) (OMN(TM)), Macgregor XIP(TM), which combines powerful portfolio management, compliance, trading and post-trade tools with a fully integrated and supported financial services IP network. This system helps move information through the entire investment process with increased speed, accuracy and efficiency, resulting in better investment performance. Supporting both FIX and non-FIX messages, XIP delivers a range of pre-trade, trade and post-trade services to the user's desktop and provides the ultimate in liquidity with access to more than 240 broker/dealers, electronic communications networks (ECNs) and alternative trading systems.
    Macgregor's extended architecture affords its clients and partners the unique efficiencies and power that can only be achieved through a large, diverse and well-connected community of users. With offices in Boston, New York, San Francisco, London, Madrid and Hong Kong, Macgregor helps more than 100 of the largest institutions in the world manage over $5.5T in global assets.

    About BNY Brokerage

    BNY Brokerage is committed to developing cutting-edge technologies and trading tools to assist its clients in meeting the fast-changing demands of the marketplace. It is a leading institutional agency brokerage firm offering a broad range of execution and commission management services to money managers, institutional broker-dealers, and plan sponsors. Additional information on BNY Brokerage is available at www.bnybrokerage.com.

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CONTACT: Media Contact: The Bank of New York Kevin Heine, 212-635-1569 or Sprung PR Andrew Sprung, 646-792-3739 andrew@sprungpr.com

KEYWORD: NEW YORK INDUSTRY KEYWORD: BANKING PRODUCT SOURCE: The Bank of New York

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