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                                                                                                        Price   Available
Desk Trading                                              Trading Station                                250          Q3
Named User                                                mStation (PDA, Phone)1                         100          Q4
                                                          Market Viewer                                  100          Q3

Direct Access Trading                                     Direct Server2                                2,000
Unlimited Number of Users                                 Trading Station                               1,500         Q3
                                                          mStation (PDA, Phones)1                       1,000         Q4

Online Trading                                            iDirect Server2                               2,500         Q4
Unlimited Number of Users                                 Trading Station3                              3,000         Q4
                                                          mStation (PDA, Phone)1                        1,000         Q4
                                                          Java Applet API (Streaming)                    500          Q4

Electronic Market Place                                   Market Place Server                           7,500         Q1
                                                          Own private & internal market

Add-Ons                                                   Position/Portfolio Management                 1,000
Unlimited Site License                                    Risk/Limit Management                         1,500
                                                          Market Statistics                              500
                                                          Logon/User Management                          500
                                                          - Radius authentication                        250          Q4
                                                          - CRM Interface (DB)                           250
                                                          TradeCapture4                                  500

Exchange Interfaces                                       OMT Saxess                                    1,500         Q3
(First Interface free of charge)                          - HEXIM, NOREX
                                                          OMT TARGIN                                    1,000         Q4
                                                          OMT CLICK XT                                  1,500         Q4

Monthly Total EUR, VAT 0%

Trading Client Fees                                                                         Users   EUR/Day     EUR/Mth5
Direct Access & Online Trading                            Any client type                           3
Charged only if User trades

Monthly TOTAL EUR, VAT 0%5

    Windows, Symbian OS, Palm OS, Java J2ME
LAN, WAN, Leased line, Internet and GPRS
Standalone Application and/or a WebBrowser Application (IE, Netscape, Mozilla, Opera)
Support for integration with Portfolio, Risk and Back Office systems
Based on 20 trading days per month.User(s) send(s) at least one order (Trades) every day.

Saxess Trade Server not required
CLICK Trade Server not required

Pricelist valid as of August, 2004
This Pricelist replaces all previous Pricelists