Ms. Sutphen, previously president of Financial Markets Consulting, will lead development of Calyon Financial's electronic trading product line and coordinate the firm's electronic trading functions, working in conjunction with IT and sales.

"Leslie brings tremendous market knowledge, strategic insight and technological expertise to this position," said Richard Ferina, Calyon Financial's Chairman and CEO. "We already have a solid team and offering in place, and Leslie's focus will be to continue improving both the products and services we offer our clients."

Calyon Financial currently provides clients with solutions for front, middle and back office applications. The firm offers the industry's leading ISVs - GL Trade, Patsystems and Trading Technologies - as well as open APIs and FIX connectivity. Calyon Financial also utilizes a suite of tools that provides clients with straight-through processing of their market orders.

"I'm looking forward to joining Calyon Financial on a full-time basis," said Ms. Sutphen, who previously served as a company consultant. "The firm has shown a commitment to developing and offering electronic trading solutions for its clients. That commitment, combined with Calyon Financial's expertise in the futures markets and broad exchange access, provides us with a strong competitive position."

Prior to founding Financial Markets Consulting in October 1997, Ms. Sutphen directed marketing of clearing and risk analysis systems for the Institutional Financial Futures Department of Prudential Securities. She also founded Prudential's global institutional futures and options service desk in London.