Automated Trading Desk Appoints Peter Kent CFO; Financial Veteran Brings Over 25 years of Capital Markets Experience to Trading Technology Pioneer.

Business Editors

MT. PLEASANT, S.C.--(BUSINESS WIRE)--Aug. 20, 2002

Automated Trading Desk (ATD), the pioneer of automated limit order trading technology, today announced that Peter Kent has been named Chief Financial Officer. In this position, Kent will be responsible for the financial leadership at ATD.

As CFO, Kent will spearhead ATD's financial management, work with senior management to identify potential market opportunities and synergies and contribute to the company's growth strategy. Utilizing his extensive financial expertise and breadth of industry knowledge, he will play a role in the strategic growth of the Company.

"As ATD continues to gain traction and momentum at a staggering pace, Peter's addition to our senior management team has already proved to be invaluable," said Steve Swanson, President and CEO of Automated Trading Desk. "His extensive background and track record brings incredible insight and depth to our seasoned executive team. We are confident ATD will continue to reach milestone after milestone, and that Peter will contribute significantly to our efforts."

Prior to ATD, Kent held a variety of executive positions in finance and business operations for Firebrand Financial Group, a holding company for securities firms and investment banks covering the retail, institutional, and discount sectors. In this capacity, he managed a series of acquisitions, start-ups and divestitures. While at Firebrand Financial he was a co-founder of EarlyBirdCapital, an online investment bank specializing in private placements with accredited investors. During his tenure at Firebrand, Kent held positions with several Firebrand subsidiaries, including Chief Financial Officer, Chief Operating Officer and President.

Previously, Kent served as Chairman and CEO of Consolidated Waste Services of America, where he raised over $10 million in venture capital funding and managed a series of five acquisitions. Kent has also held key management positions with Wessels, Arnold & Henderson, where he developed a corporate finance function focused on the Environmental Services Industry, and Henry Ansbacher, an investment bank specializing in M&A. While at Ansbacher, Kent held several titles, including Chief Financial Officer, President and Chief Operating Officer, and supervised, as an intermediary, in excess of 200 transactions ranging in size from $2 million to $750 million.

During his tenure in the industry, Kent as a principal or officer, has successfully raised over $40 million for companies with which he was an officer, taken two companies public, and been involved in over twenty-five acquisitions or divestitures.

"This is a very exciting time for ATD as they continue to capitalize on marketplace changes through innovative corporate culture and technology. I am thrilled to be a part of this pioneering company and have the opportunity to work with an extraordinary team of executives," said Peter Kent, CFO of Automated Trading Desk. "ATD's business model and capabilities have allowed us to capture four percent of Nasdaq's trading volume and recently enjoy several one hundred-million-share days - all with 53 employees. This is a true testament to the achievements, efficiencies and market liquidity ATD is realizing."

About Automated Trading Desk, LLC (ATD)

ATD is a trading-technology company created to develop systems and software for automated limit-order trading. Founded in 1988 and based in Mt. Pleasant, SC, ATD provides significant liquidity to the public markets through limit-order placements on its own behalf and on behalf of its institutional clients through its brokerage subsidiary ATD Brokerage Services, LLC, an NASD and SIPC member.

ATD's proprietary expert system captures and analyzes vast amounts of market data, and through the use of algorithms, predicts very-short-term price movements in individual stocks. ATD's technology prices, places, monitors, cancels and handles execution of orders. As of August 2002, the company accounts for approximately 4% of Nasdaq's daily volume, and in April 2002 had its first 100 million-share day. For more information, please visit www.atdesk.com.