FNX Ltd.

Farid Naib is CEO and Founder of FNX Limited, a leading provider of fully integrated, front, middle and back office global trading and treasury software. Founded in 1992, FNX has become a leader in the delivery of advanced technology solutions to global financial institutions. A true entrepreneur, Mr. Naib established his first start-up venture at the age of seventeen. In 1985 he co-founded his first software venture, FX Systems, to provide pricing systems for option traders. In 1992, Mr. Naib founded FNX Limited, which provides straight through processing software and risk management to the world's largest financial institutions. Under Mr. Naib's leadership, FNX has grown from 5 employees and one office to well over 150 employees across eight offices worldwide. In his role as CEO, Mr. Naib is responsible for the strategic direction and overall evolution of all FNX solutions. Possessing an extensive understanding of the key technological challenges facing today's global financial industry, Mr. Naib is a recognized expert in financial trading operations and risk management. Farid received a BBA from Emory University in 1982 and an MBA in Finance from the Wharton School at The University of Pennsylvania in 1984. Mr. Naib serves on several boards and is a member of the Young Presidents Organization (YPO).

Before joining FNX in February 1996, Jim Dennelly was an Assistant Treasurer/Head Trader at Federal Home Loan Bank of New York (FHLB). At FHLB, Jim was responsible for managing their $20 billion dollar investment portfolio. In addition to his trading responsibilities, Jim was also the architect for their investment, pricing, inventory and credit systems. At FNX Jim developed the Sierra Fixed Income/Repo and Money Markets modules as well as managed the implementation of multiple Sierra modules around the world. Currently Jim is in charge of product design. Jim graduated from State University of New York at Buffalo, and received an MBA in Finance at Hofstra University.

A founding partner of FNX, Kevin Horio returns to the company after a 9 year hiatus to oversee the development of globally distributed front and back-office trading solutions and risk analysis products. During his absence, Kevin was Co-Founder, President and Managing Director of Dimensia, Inc., a business strategy and technology solutions organization, where he was responsible for overall operations and was directly involved in developing software solutions for financial, insurance, real estate and healthcare markets including web-based environments for financial trading, remote healthcare, distance learning and more. With in-depth experience across a broad range of technology services and software product operations, Kevin brings extensive expertise ranging from technical architecture, implementation and operations to business strategy and management. Kevin received a B.S. in Computer Science from the University of Hawaii.

Lucian Lauerman oversees the System Implementation division of FNX, which is responsible for Sierra installations across the globe and the bulk of FNX's new development. An analyst with a commodities consultancy firm prior to joining FNX 8 years ago, Lucian has participated in successful FNX client implementations for several large financial institutions in London, Tokyo, Melbourne, and New York before stepping into his current role. Lucian has a B.A. from St. Joseph's University and an MS in Economics from George Washington University.

Patrick Cannon is uniquely suited to the role of Managing Director, Global Client Relations. With the company since 1995, Patrick has been directly involved with all aspects of FNX's product implementation and support services. Prior to heading Global Client Relations, Patrick served as FNX's Director of North American Support. From 1996 to 1999 he was Director of European Support with responsibilities that included sales, consulting, system integration and operations management. Before joining FNX, Patrick was with Manufacturers and Trader Trust (M&T) Bank, where he worked in the bank's Corporate, Private Banking, Trust, and Treasury Departments and participated in M&T's Management Development Program. Patrick has a B.A. in Economics from St. Joseph's University with a minor in Finance.