BNY Brokerage sm Links Its DEx Trading Platform to the Charles River Investment Management System.

NEW YORK -- BNY Brokerage Inc., a member of BNY Securities Group and subsidiary of The Bank of New York, has linked its DEx(SM) (Direct Execution Services) trading platform with the Charles River Investment Management System (Charles River IMS) from Charles River Development. DEx provides Charles River IMS clients with electronic direct access to all markets.

Charles River IMS is a comprehensive, front and middle-office software suite for portfolio management, electronic trading and order management, and real-time securities compliance monitoring.

The FIX integration allows Charles River clients to direct order flow from Charles River IMS on their desktops through BNY Brokerage's DEx platform. Money managers using Charles River IMS can now efficiently access the SonicPort(SM) front-end to work orders directly into the marketplace to reach all points of liquidity including ECNs and Nasdaq's order routing systems, as well as the NYSE and other exchanges.

Charles River clients can take advantage of the full range of SonicPort's services, including sophisticated trading order types, such as pegging and discretion; a proprietary smart order routing algorithm; web-based trade data reporting; built-in risk management tools; a FIX API connection; and a dedicated and professional trade support unit. In addition, BNY Brokerage's proprietary algorithms are available through SonicPort, as well as directly through Charles River IMS.

"We are excited to begin this new relationship with BNY Brokerage," said Peter Lambertus, Charles River president and CEO. "The new offering further exemplifies our ongoing commitment to providing Charles River clients with a premier choice of liquidity providers and workflow solutions."

"BNY Brokerage is delighted to join Charles River's Premier Partner program by offering clients direct market access through DEx," said Carey S. Pack, president of BNY Brokerage. "Our goal is to offer clients the tools they need to effectively manage their trading and actively support connectivity to best-of-breed order management systems, like Charles River IMS."

BNY Securities Group is the global agency brokerage, clearing and financial services outsourcing sector of The Bank of New York Company, Inc. It provides institutions, broker-dealers and corporations with a broadly diversified suite of services and "The Power of Choice" through multiple business models. Through its broad range of businesses, BNY Securities Group offers creative solutions in trade execution, commission management, independent research, securities clearing and financial services outsourcing. BNY Securities Group is the largest provider of commission management services, has 21 New York Stock Exchange seats, and offers global execution and clearing services in over 80 markets with offices in the U.S., Europe, Asia, and Australia. BNY Securities Group is an organization consisting of several broker-dealers and other companies. BNY Brokerage Inc. is a member of NYSE/NASD/SIPC.

The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global financial institutions, asset managers, governments, non-profit organizations, corporations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.

DEx, SonicPort, and BNY Brokerage are service marks of BNY Brokerage Inc.

About Charles River Development

Charles River Development (www.crd.com) is a provider of financial technology and consulting services to the global investment management, banking, pension, and insurance industries. By combining state-of-the-art and industry-standard technologies, Charles River delivers applications that are open, flexible, scalable, rich in functionality, and easy-to-use.

The Charles River Investment Management System (Charles River IMS) is a comprehensive, integrated, front and middle office suite for all security types. Each of the suite's three components is available as a standalone application: Charles River Manager offers sophisticated tools for portfolio management including "what if" analysis, modeling, portfolio rebalancing, and order generation; Charles River Trader provides order management, electronic trading, and liquidity access; and Charles River Compliance offers global, real-time, pre-trade, post-execution, and portfolio-level compliance monitoring.

Charles River IMS supports 24X7 operations and facilitates downstream trade processing via embedded links to VMUs, custodians, and settlement facilities. Message-based APIs and exposed Web Services allow for rapid systems integration.

Founded in 1984 and privately held, Charles River serves over 135 clients worldwide and maintains offices in Burlington, MA, Chicago, London, Melbourne, New York, San Francisco, Singapore, and Sydney.

About BNY Brokerage

BNY Brokerage is committed to developing cutting-edge technologies and trading tools to assist its clients in meeting the fast-changing demands of the marketplace. It is a leading institutional agency brokerage firm offering a broad range of execution and commission management services to money managers, institutional broker-dealers, and plan sponsors. Additional information on BNY Brokerage is available at www.bnybrokerage.com.