NextSet Strikes GOLD – A New Private Trading eXchange Customer
by Anonymous

PALO ALTO, CA – February 7, 2002 - NextSet Software Inc., a provider of online trading software for financial institutions today announced a deal to supply its Private Trading eXchange ("PTX") system to Global Online Dealing Limited, an Australian dealing platform.

NextSet's PTX system will provide real-time online trading between GOLD's corporate clients and member banks for Foreign Exchange (FX) products. Currently, these products are primarily traded over-the-counter using a telephone-based system. The GOLD solution will allow corporate treasurers quick access to multiple FX quotes from member banks and choose the best product package for their daily requirements.

"After an extensive search, we choose NextSet's PTX system." Michael Buttrose, Marketing Director and co-Founder, said today. "We plan to provide our Corporate Treasury customers with a state-of-the-art online trading system for FX products (spot, forward, swap, two-way, and call level) sourced from their existing banking providers in the Australian market. This platform will enable:
·    Simple and secure online access for our corporate and bank clients
·    Full connectivity to back-office systems
·    Rich content
·    Online negotiation with individual banks
·    Allocation across multiple accounts
·    Ability to split orders to multiple institutions
·    Sub-second transaction speeds, online administration
·    and Straight Through Processing."

"NextSet's PTX provides a multi-bank, e-commerce platform that improves the corporate client's visibility into the best FX prices available at any moment of the day. All parties achieve high quality of service, lower transaction costs, and increased liquidity - whilst preserving the personal trading relationships between corporate clients and member banks."

Mr. Buttrose continued, "GOLD went to great lengths to understand what the Australian financial markets required from an e-treasury platform. Our job was to find a software partner that could deliver the technology based on four primary criteria:

One, the vendor solution must provide an intuitive portal for our corporate clients, integrate live data feeds, generate standard trade ticket formats for STP, and provide GOLD with powerful system administration tools.

Two, the vendor solution must be compliant with current financial e-commerce standards initiatives and must interoperate with member banks' mid and back-office systems.

Three, the platform solution must be flexible and extensible so it can readily adapt to emerging business models and future financial instruments to be introduced over time.

Four, it must provide near term ROI.

We searched software companies from the US, UK, Australia and New Zealand and found that NextSet's PTX was the ideal platform on which to run the GOLD product. The fact that NextSet understands the financial markets is a real bonus to GOLD and gives us the confidence that these guys can deliver to our schedule."

"We are very pleased to be working with GOLD", said Simon Yencken, CEO of NextSet Software, Inc.. "Our vision of financial e-commerce is very much in line with GOLD's and we look forward to a long and prosperous relationship."


About GOLD:

Global On Line Dealing Ltd ("GOLD") was established in November 2000 with the objective of changing the way corporate treasurers and institutions conduct financial market transactions with their relationship banks. GOLD provides an electronic dealing platform that facilitates the interaction between corporate treasurers and their core relationship banks for simultaneous price discovery, and for negotiation, execution, confirmation and settlement of financial market instruments.


About NextSet Software, Inc.:

NextSet Software provides systems that enable financial institutions to trade online with their institutional and corporate clients. NextSet's PTX is an online trading system that supports multiple asset classes (including derivatives and cross-product exotics) on the same system. PTX supplements the telephone-based or "over-the-counter" systems that financial institutions use today. Advantages of online trading with PTX include: increased business, reduced transaction costs, faster response to customer orders, 24x7 service, and Straight Through Processing.

NextSet is a private company with over 120 employees, headquartered in Palo Alto, California. NextSet maintains state-of-the-art technology and development centers in Bangalore and Chennai, India and has a regional office in Melbourne, Australia.

For more information, please visit our website at www.nextset.com.





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