Press Release

Javelin Technologies' FLIRT(TM) Transforms Electronic Trading; Financial Language Internet Real-time Trading(TM) Protocol

NEW YORK, Nov. 27 /PRNewswire/ -- Javelin Technologies, Inc., the leader in electronic trading technology, announced today the distribution of FLIRT(TM), an Internet infrastructure for the real-time communication of trade data. Built by Javelin, FLIRT(TM) (Financial Language Internet Real-time Trading) is a free, open Internet trading standard offering a simple way to prepare the world for electronic trading.

By creating a universal infrastructure for electronic trading over the Internet, FLIRT(TM) will push the industry towards increased market efficiency and enhanced liquidity. FLIRT(TM) is ``protocol friendly,'' meaning that trade information can be written in any data format (FIXml, FpML, XML, etc.) and reach its intended destination quickly and securely.

``We can pretend that FIX will solve all trading problems, but that would be to ignore the power of the Internet and those trading partners, like the retail investor for example, who cannot use FIX in its current form,'' said George Kledaras, president and CEO of Javelin Technologies, Inc. ``FLIRT(TM) solves the ubiquity issue, and creates more liquidity connections, something crucial for the industry moving forward.''

``Javelin is positioned to help firms exploit the power of the Internet in a way the electronic trading marketplace has not seen,'' said Rob Hegarty, Research Director with TowerGroup. ``FLIRT creates a universal infrastructure for electronic trading over the Internet, which will help the industry achieve greater market efficiency and allow access to greater pools of liquidity.''

``FLIRT(TM) is about making money on the Internet by trading,'' said Witold Sames, senior vice president, product development for Javelin Technologies, Inc. ``As a global connectivity tool, the Internet has been heavily exploited, but until now the electronic trading community has remained rather timid in making use of it. FLIRT(TM) changes all that.''

With FLIRT(TM)'s ability to communicate across all languages, and seamlessly link trade counterparties, the entire electronic trading marketplace will benefit from the infrastructure. This includes the retail investment community, the buy side, the sell side, Electronic Communication Networks (ECNs), order management system vendors wanting web-based and non-equity traders using data formats like FpML.

FLIRT(TM) uses the connection-less HTTP(s) as its transport layer and adds transactional integrity to create a lightweight state/session management capability, eliminating the need for traditional point-to-point connections (as is the case with a traditional FIX connection today).

Javelin Technologies, Inc.

Javelin Technologies, Inc., based in New York City with offices in San Francisco and London, is the leading provider of electronic trading technology, providing universal connectivity for better trading. Javelin's electronic trading technology powers hundreds of clients including Chicago Board Options Exchange (CBOE), Yahoo!, Morgan Stanley Dean Witter, Advent Software, Fidelity Management Research, Instinet, Thomson Financial and Market XT/Tradescape. Javelin's innovations have also attracted a growing list of partners including IBM, Robertson Stephens, TIBCO and Investec Ernst. For information on Javelin's electronic trading solutions, visit www.javtech.com.

For more information, please contact Stephanie Cohen of Javelin Technologies, Inc., 917-320-4690, stephanie@javtech.com; or Jennifer Hunt of The Stephenson Group, 908-439-3660, jhunt@stephensongroup.com.