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Outlined below you will find a series of recent media releases, simply click on the any paragraph to download a complete pdf file. If you would like to read more about TRAX and/or Xtrakter visit www.xtrakter.com

Richard Jinks joins Xtrakter as Director of Commercial Operations

(London, UK) Xtrakter, part of the ICMA group of companies, is pleased to announce the
appointment of Richard Jinks to the position of Director of Commercial Operations. Mr Jinks, who joins Xtrakter on March 3, 2008, will report directly to the Chief Executive and be a member of Xtrakter’s Executive Committee.

Xtrakter slashes regulatory reporting fees by 35%

(LONDON, UK) Xtrakter, part of the ICMA group of companies, is pleased to announce it is
reducing standard regulatory reporting fees by 35% for subscribers to its TRAX reporting service (www.trax2.org).

Nylon Capital LLP adopts TRAX for repo matching with Barclays
Capital.

(LONDON, UK) Xtrakter, part of the ICMA group of companies, is pleased to announce that
Nylon Capital LLP, a liquidity taker, has commenced live usage of TRAX for matching
repurchase agreements (repo) with Barclays Capital (www.trax2.org).

Record breaking 2.3m repos processed by TRAX

(LONDON, UK) Xtrakter, the market utility, is pleased to announce that TRAX the matching
and regulatory reporting system processed 2.3 million repos with a nominal value of
EUR 65 trillion over the course of 2007. TRAX is the only fully automated repo matching
system available in the capital markets (www.TRAX2.org).

Credit crunch hits 2007 bond issues by 26.5%

(LONDON, UK) Xtrakter released figures today outlining that a 26.5% (USD 421.56 billion)
drop in new bond issues occurred in the second half of 2007. This decline was in contrast to earlier increases made in the first half of the year. Specifically Q3 figures declined by 28.7% (USD 202.64 billion) and Q4 figures declined by 24.8% (USD 218.94 billion) when compared to the same period in 2006.

ICMA Ltd changes its name to Xtrakter

(LONDON, UK) ICMA Ltd, the market services division of the International Capital Market
Association will be known as Xtrakter. Xtrakter is a market utility owned by capital market participants through the International Capital Market Association (ICMA) working for the benefit of industry. It provides operational risk management, trade matching, regulatory reporting and data services to the global capital markets.

TRAX2 receives full approval from FSA as an Approved
Reporting Mechanism (ARM)

TRAX2 system received full approval from the UK Financial Services Authority (FSA) as an Approved Reporting Mechanism (ARM) in accordance with the Markets in Financial Instruments Directive (MiFID).

Repo trading would benefit from scrutiny

Vendors are not alone in ignoring a €6.4 trillion market, writes Natasha de Terán

Repo matching now available to the buyside for the
first time via TRAX2

The International Capital Market Association (ICMA) Ltd is pleased to announce that buyside firms can now use TRAX2 for repurchase agreements (repo). For the first time, both buy and sell side firms can match and report repo trades using the same system.

Market’s use of TRAX2, ICMA’s trade matching system, accelerates as international banks connect.

TRAX2 trade matching and regulatory reporting system is now being adopted by an increasing number of international banks to match and report trades in the capital market. Intesa Sanpaolo S.p.A and Banca Caboto S.p.A. are the latest banks, and the first in Italy

ICMA proposes post-trade transparency standard for bond markets

The International Capital Market Association (ICMA) has issued proposals for
consultation on delivering enhanced post-trade transparency in the international
bond markets.

ICMA appoints Kevin Milne to head ICMA Ltd

The International Capital Market Association (ICMA) is pleased to announce the appointment of Kevin Milne to the position of Managing Director of ICMA Ltd, the UK subsidiary mainly responsible for operating the Association’s technology products and services. Mr Milne, who joins ICMA on February 19, 2007, will be a member of ICMA’s Executive Committee.

ICMA figures show international bond market size now stands at over US$ 10.5 trillion

The International Capital Market Association (ICMA) today released its latest figures on the size of the international bond market which show that at the end of 2006 the size of the market, measured in terms of outstanding debt in all currencies, had increased to US$ 10,545 billion a 10.5% increase in the total size of the market at the end of 2005.

Enhanced matching functionality for derivatives and repo with TRAX2 - the MiFID ready trade matching and regulatory confirmation system for the OTC market.

The International Capital Market Association (ICMA) Ltd today announced that TRAX2, the MiFID ready trade matching and regulatory reporting system for the OTC market, has successfully added enhanced its Repo, SQL and derivative matching functionalities. TRAX2 allows firms to manage their operational risk effectively by matching trades that have been done ‘over the counter’ i.e. not on an automated trading system, in real time with their counterparties, eliminating failed trades at settlement. Further, TRAX2 enables users to fulfil their transaction reporting requirements in a range of financial instruments to a number of specified regulatory authorities throughout the EU.

Latest ICMA survey shows European repo market size in excess of EUR 6 trillion

The International Capital Market Association (ICMA) today released the results of its 11th semi-annual survey of the European repo market. The survey, which is effectively a snapshot of the volume of repo trades outstanding on a single day in June, shows market size standing at over EUR 6 trillion, a 15% increase from June last year.

Full repo trade matching capabilities for the European repo market: ICMA delivers phase 1 of TRAX2.

( London, UK) The International Capital Market Association (ICMA) has announced that the full repo matching capability of its new TRAX2 system is now live and being used by a number of major market participants, including Goldman Sachs International , J.P. Morgan Securities Ltd, Nomura International plc, and Credit Suisse Securities (Europe) Ltd, to reduce operational risk in this fast growing market sector.

Spectacular growth in the European repo market continues 10th repo survey from ICMA shows increase in market size now estimated at EUR 5, 883 billion

(LONDON, UK) The International Capital Market Association today released the results of its semi-annual survey of the repo market in Europe conducted on December 7, 2005, which shows that the minimum market size has risen to over EUR 5.8 trillion - an increase in market size of 18% since December 2004. The European repo market now probably exceeds its US equivalent in size. The average size of the participating institutions’ individual repo books, jumped to EUR 74 billion from EUR 66 billion.

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