OMX, a leading expert in the exchange industry, has signed an agreement with Agora-X, a new US-based marketplace for over-the-counter (OTC) commodity contracts. According to the agreement, OMX will provide a complete hardware, software and operations solution to support Agora-X's new ECN platform. The new platform is scheduled for launch in mid-2008. Agora-X is a Delaware limited liability company based in Kansas City, MO. Founded by FCStone Group, Inc., a global leader in commodity risk management, the company was formed to develop an electronic communications network (ECN) for OTC commodity contracts designed to help eligible institutional participants achieve strategic advantage in the rapidly growing OTC commodities market. While designed for a wide range of contract types, the ECN will initially target OTC option “look-alikes” in specific energy and agricultural commodities, as well as all commodity swaps. “The growth of the overall commodities and commodities derivatives markets in combination with the increased role of financial institutions in these markets underscore the growing need to provide efficient intermediation of transactions for institutional players in these markets,” said Brent M. Weisenborn, CEO of Agora-X. “Currently no platform exists that encompasses the scope of Agora-X's projected range of business activity. Agora-X's compelling business model and best-of-breed technology, supplied by OMX, will create that platform and provide the liquidity necessary to fully expand this market segment. ” OMX will provide Agora-X with a complete technology solution including license, customization, implementation, hosting and ongoing monitoring, maintenance and support. The platform is highly scalable and has a proven history of adaptability which will enable Agora-X to easily adapt to regulatory changes and add new commodity types. The platform is built with an open architecture API (Application Programming Interface) which provides the flexibility to accommodate multiple front end solutions. “We are delighted that Agora-X has chosen OMX as its technology partner to launch this exciting new marketplace for OTC commodity contracts,” said Markus Gerdien, President of Market Technology at OMX. “This appointment reinforces our position as the world's leading provider of exchange technology solutions, independently of asset class, and acknowledges both our financial industry expertise and deep technology resources. We look forward to working closely with Agora-X to help them build and launch this new marketplace.” For more information, please contact: Jonas Rodny, OMX +46 8 405 72 67 Richard M. Johnson, Agora-X +1 913 649 8885 Bill Dunaway, FCStone Group +1 816 457 6246 About OMX | OMX is a leading expert in the exchange industry. The OMX Nordic Exchange comprises over 800 companies including its alternative market, First North. OMX provides technology to over 60 exchanges, clearing organizations and central securities depositories in over 50 countries. The Nordic Exchange is not a legal entity but describes the combined offering from OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn Riga and Vilnius. OMX is a Nordic Large Cap company in the Financials sector on the OMX Nordic Exchange. For more information, please visit www.omxgroup.com. About Agora-X | Agora-X, LLC is a developmental stage company that is currently wholly owned by FCStone Group, Inc. It plans to develop an institutional ECN for OTC commodities contracts in collaboration with major institutional commodities market participants. The Agora-X platform is designed to enable institutional participants to anonymously obtain best prices in a more liquid/transparent marketplace. By efficiently monetizing/internalizing their internal order flow in this market segment, institutional players should achieve a strategic advantage. The Agora-X ECN is scheduled to launch in mid-2008. For more information please visit www.agora-x.com. About FCStone Group, Inc. | FCStone Group, Inc., along with its affiliates, is an integrated commodity risk management company providing risk management consulting and transaction execution services to commercial commodity intermediaries, end-users and producers. The firm assists primarily middle market customers in optimizing their profit margins and mitigating exposure to commodity price risk. In addition, FCStone, LLC operates one of the leading independent clearing and execution platforms for exchange-traded futures and options contracts. FCStone Group, Inc. serves more than 7,500 customers. In the 12 months ending August 31, 2007, FCStone executed 61.7 million derivative contracts in the exchange-traded and OTC markets. The FCStone Group companies work in all major commodity areas including agriculture, energy, renewable fuels, foods, forestry, and currency exchange. Headquartered in the Midwest, it has offices located throughout the world and is a clearing member of all major North American Futures exchanges. FCStone Group, Inc. trades on the NASDAQ Global Select Market under the symbol FCSX. Forward Looking Statements This press release may include forward-looking statements regarding, among other things, our plans, strategies and prospects, both business and financial. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words ``believe,'' ``expect,'' ``anticipate,'' ``should,'' ``plan,'' ``will,'' ``may,'' ``could,'' ``intend,'' ``estimate,'' ``predict,'' ``potential,'' ``continue'' or the negative of these terms and similar expressions, as they relate to FCStone Group, Inc., are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the Company's filings with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release. Our forward-looking statements speak only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
OMX to deliver and host new trading solution for Agora-X - a new OTC commodity marketplace
| Source: Nasdaq Nordic