GEMS is a multi-currency, multi-asset system that provides global trading functionality, straight-through processing and seamless integration with custodians and clearing agents. Institutional clients can connect directly to GEMS via an automated FIX interface or AXES' graphical user interface. Orders are routed electronically to the AXES network broker in the destination market for direct execution on the local exchange or are managed by the local trading desk to minimize market impact. GEMS' post-execution tracking feature automatically transmits all trade details to back-offices and banking institutions and provides real-time status to insure accurate and timely settlement.

AXES provides institutions with the efficiencies of GEMS automated process management combined with the trade execution services and back-office operations that are essential to global cross-border trading. AXES' exclusive partnerships with leading local brokers around the world -- each of which are direct members of their local exchanges -- offer clients in-depth on-the- ground market intelligence. Clients also have access to the global research product created by AXES and its broker partners to identify new trading opportunities in the global markets.

"AXES enables institutions to trade in the developed, emerging, frontier markets through our exclusive worldwide partner network via a single point of entry. GEMS empowers clients to more efficiently execute their global trading strategies by eliminating the need for multiple systems and relationships," said Peter F. Gaffney, AXES president. "AXES is a closed network -- with one broker in each country who is also a shareholder -- so there are no opaque third parties or operational cost inefficiencies involved in an AXES trade."