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Empresas y finanzas

Chi-X Names Michael Bundy CTO


    Instinet Chi-X(R) Limited, a pan-European equity alternative
    trading system (ATS), today named Michael Bundy Chief Technology
    Officer. Mr. Bundy joins Chi-X from Nomura subsidiary Instinet, which
    owns Chi-X, where he will be succeeded by Christopher Rogers (see
    separate announcement).

    Mr. Bundy, who will relocate to London for this newly created
    position, has served as Instinet CTO since July 2005, where he was
    responsible for all of the firm's global technology development
    efforts. Among his notable achievements was overseeing the complete
    redevelopment of Instinet CBX(SM), an upstairs matching system, or
    dark pool, whose underlying technology serves as the foundation for
    all of Instinet's matching engines around the world, including Chi-X.

    "As Chi-X continues to grow, we felt it was important to build an
    independent, world-class technology team. Michael brings to bear
    extensive experience in building and running one of the fastest, most
    reliable systems in the U.S., plus the experience of overseeing
    Instinet's technology development in Europe and Asia," said Tony
    Mackay, Managing Director of Instinet Chi-X Limited. "We could not be
    more excited about the prospect of him working full time with the
    Chi-X team as we look to build upon our early leadership position."

    "I see Chi-X today as being in a similar position to Island's in
    the U.S. in the late 1990s, with Chi-X and other such systems on the
    cusp of completely revolutionizing the European equity markets through
    ultra fast, highly scalable technology and a pricing approach never
    before seen in Europe," said Michael Bundy. "In many ways, being CTO
    of Chi-X is to me one of the most exciting technology positions in the
    world."

    Before joining Instinet, Mr. Bundy worked for E*Trade Financial,
    where he was a senior manager overseeing the development and
    maintenance of the trading systems used by E*Trade Securities, E*Trade
    Capital Markets, and E*Trade Canada. Prior to that, Mr. Bundy held
    various technology research positions at Baylor College of Medicine,
    AT&T Bell Laboratories and NeoSoft Inc.

    About Chi-X(R)

    Instinet Chi-X Limited, an independent subsidiary of Instinet
    Europe Limited, is an FSA-authorised securities firm operating as an
    Alternative Trading System (ATS) and MTF (Multi-Lateral Trading
    Facility under MIFID) for the trading of a wide range of European
    equities. Instinet Chi-X is currently available in live beta
    production.

    Through Chi-X's low-cost, streamlined model, institutional
    investors are able to trade European equities and achieve ultra-low
    execution, clearing and settlement costs. Both internal and external
    benchmark tests showed the Chi-X operating model to be more than 10
    times faster and significantly less expensive than Europe's
    traditional equity exchanges*. Chi-X disseminates market data to
    clients directly and via third party market data vendors at no cost,
    and trade reporting is available for a flat monthly fee of GBP 210 per
    calendar month. For more information, please visit www.chi-x.co.uk.

    * Market volatility and volume may affect actual performance.

    About Instinet

    Instinet, through its subsidiaries, acts as a global agency
    broker, providing the trading expertise and advanced technology
    necessary to successfully interact with more than 50 securities
    markets worldwide. Acting solely as an agent for its customers,
    Instinet seeks to improve institutional investment performance and
    lower overall trading costs through its various front-end trading
    systems, securities crossing networks, algorithms, commission
    management programs and investment research products. The company,
    which is an independent subsidiary of Nomura Holdings, Inc., is
    headquartered in New York and maintains offices in North America,
    Europe and the Asia Pacific region. For more information, please visit
    www.instinet.com. Instinet conducts its U.S. institutional brokerage
    business primarily through Instinet, LLC, member NASD/SIPC.

    (C)2007 Instinet, LLC. All rights reserved. INSTINET is a
    registered service mark in the United States and in other countries
    throughout the world. Approved for distribution in Europe by Instinet
    Chi-x Limited, which is authorised and regulated by the Financial
    Services Authority. Instinet, LLC, member NASD/SIPC. Instinet Europe
    Limited is a subsidiary of Instinet Incorporated.