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ADM Investor Services International Limited 1

Electronic Front-End / FIX / API SolutionsElectronic Front-End / FIX / API Solutions

ADM Investor Services International Limited ELECTRONIC V1.2NP

04/2012


Electronic FrontEnd / FIX / API SolutionsPresentation by Andrew Gibbins

Electronic Services GroupTel: +44 20 7716 8128

April 2012

ADM Investor Services International Limited

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ADMISI provides an array of professional Independent Service Vendor (ISV) Front-End trading platforms, FIX Protocol Open Architecture and API solutions to it clients.

Only 2 principal exchanges remain ‘Open Outcry’, the majority of Global execution transmission is conducted electronically.

Each asset class and market incorporates specific native order types that require specialist tools to manage executions effectively and efficiently in an ever increasing world of stringent regulation, Transactional Cost Analysis (TCA) and Best Execution.

ADMISI’s selected Front-End partners and platforms are constantly monitored to provide the best unbiased transactional solutions to our clients’ core trading and clearing objectives.

Electronic Direct Market Access (DMA) and Straight-Through-Processing (STP) solutions are provided for the following asset classes and general markets:

Listed Equities Futures and Options Listed Interest Rates Futures and Options Listed Commodities Futures and Options

Listed Cash Equities and CFDs Foreign Exchange

ADMISI Electronic Front-End / FIX / API Solutions:


Electronic FrontEnds:


No client is vanilla; each requires flexible, customisable and scalable solutions to optimise their quest for alpha.

ADMISI’s ISV selection is driven by the combination of unbiased Multi-Asset Class Agency Brokerage and Independent Clearing expertise with a thorough understanding of our clients’ core trading and settlement objectives.

ADMISI Selected ISV Electronic Trading Platforms:


Immediate, scalable, seamless global market access:

TTNET allows ADMISI quick deployment of X_TRADER Pro worldwide using Internet and private lines. Our customers can capitalise on cost-effective Metro Ethernet connectivity in the Americas, Europe and the Asia/Pacific region. Connectivity and lengthy implementation processes are radically reduced utilising TTNET™’s existing high-capacity exchange and global inter-data centre backbone infrastructure.

Introducing Trading Technologies’ TTNET™ With Worldwide Connectivity:

ADMISI has invested significantly in TRADING TECHNOLOGIES’ fully hosting service, TTNET™, providing connectivity to 12 Futures and Options exchanges worldwide.

Multi-gigabit connections between 8 TTNET™ data centres ensure robust reliability with strong backup abilities for our traders and ADMISI customers.

TTNET™ trading screens can easily be deployed globally via TTNET™ hubs in Chicago, London and Frankfurt.


Global Hosted Trading Network: A fully redundant high performance trading network with data centres geographically located as close to Exchange matching engines.

Order Types: Multiple exchange independent synthetic order types. OCO, Timed, Volume, Care, Trigger and more.

Auto-spreader®: Trade inter-product/exchange spreads with up to 10 legs with customizable volume and price ratios. Definable and automated hedging capabilities.

Automated Order Entry: Fully automated trading and order management tool. Allows development of basic trading models and integration with Excel.

Excel Integration: Integrate with Excel using Real Time Data (RTD). Dynamically update Excel with position, P&L and market data.

X_TRADER® API: Ability to custom develop X_TRADER with Visual Basic, C++, C# etc. This can enhance X_TRADER or be used for building additional trading tools and integration with other applications.

ADMISI TTNET™ Global Backbone

Risk Management: Pre and Post Trade Risk Management capabilities. Use of Max Position, Max Order Qty, Margin and P&L pre-trade risk management. Post trade view, alerts for P&L and position management. Overnight position posting to end users.

Algo Design Lab (ADL™) Create bespoke Algorithms on a drag-and-drop canvass with automated program encoding.

TTNET™ Connectivity to 12 Futures & Options Exchanges:


Chicago Board of Trade (CBOT)

Chicago Mercantile Exchange (CME)

COMEX

ICE Futures Canada

ICE Futures U.S.

New York Mercantile Exchange (NYMEX)

TTNET's high-performance gateways provide reliable direct market access to the major futures markets across the planet.

Dubai Mercantile Exchange (DME)

Eurex

ICE Futures Europe

NYSE Liffe

NYSE Liffe Paris

Bursa Malaysia (BMD)

TTNET™ Connectivity to 12 Futures & Options Exchanges:

Order Staging (Beta Testing): Order routing via TT screen or FIX based OMS systems to Broker desks.

Currently ADMISI is Beta Testing Order Staging and Synthetic algorithmic orders types (Iceberg, Time Sliced, Volume Sliced) which are on proximity based Synthetic Strategy Engine (SSE) execution servers, reducing latency to exchanges’ electronic matching engines. It is planned to be made available once Beta Testing is completed satisfactorily.

FIX Capabilities: Allows customers to connect FIX compliant systems to TT servers.

FIX Order Routing: Fix order routing for black and grey box solutions. High performance FIX Adapter. Inclusive of market data delivery.

Post Trade Allocation: Post trade allocation capabilities for Funds using CFTC regulated algorithms. Allocating trades by percentage and price averages to predefined rules. CSV files are generated from the X-Trader Pro’s Recap Filler tools to generate periodically chosen bookings as required.

Trading Technologies®, the Trading Technologies logo, X_TRADER® and Autospreader® are registered trademarks and TTNET™ and Autotrader™ are trademarks of Trading Technologies International, Inc. All rights reserved.


ADMISI partnered with Equities bellwether Fidessa to develop a truly ONE-STOP STP compliant Multi-Asset Class Trading Front-End.

Citing a growing niche in entrepreneurial Buy-Side demand for greater electronic market access across differing asset classes without sacrificing valuable screen Real Estate and incurring yet more Front-Ends, ETP Remote provides Consolidated DMA and Care Orders access from just ONE ORDER TICKET across:

Listed Equities Futures and Options

Listed Interest Rates Futures and Options

Listed Commodities Futures and Options

Listed Cash Equities and CFDs

European Trading Platform Remote (ETP)


FIDESSA – The Core USP Advantages:

Truly Anonymous DMA and Care Orders electronic Order Management System (OMS) platform.

ONE ORDER TICKET ONLY execution of Listed Derivatives, Cash Equities and CFDs (No additional Apps).

Full native and non-native Exchange order types.

Pre-risk managed: Listed Futures, Cash Equities and CFDs.

Related Multi-Asset Class instrument tracking and data mining (Family Tree: Cash versus Derivative product types).

Consolidated Multilateral Trading Facility (MTF) Screen Access.

Pre & Post trade booking STP compliant.

Full Audit orders tracking compliant.

ADMISI’s Preferred FIX compliant Agnostic Gateway.

MiFID compliant.

Fat fingering, Firm wide and individual end-user risk customisable.

Utilises one of the world’s largest private infrastructure networks – non internet and non ISP reliant.

Derivative Synthetic Spreader currently being tested in- house for future incorporation.


FIDESSA – EMS Workstation: Greater Execution Integration

EMS Workstation is ideal for Buy-side asset managers - from small hedge funds to larger institutional managers requiring multiple broker-neutral market connectivity and execution capabilities, along with integrated real-time market data.

As a fully hosted out-of-the-box solution, deployment is prompt and readily integrated with most order management or portfolio management platforms.

Fidessa’s FIX network provides low-latency connectivity to DMA, algorithmic, program, care and smart order execution services of more than 650 brokers with support for equities and listed derivatives across more than 160 global markets.

Incorporating intuitive trading functions and user-defined trading displays, our comprehensive order management functionality includes in-depth program trading.

'Fat finger' controls, trading limits and a full audit trail ensure comprehensive risk management.

Trade Pairs with your broker using a dedicated dialog, monitor within the execution blotters

Slice off waves/programs to your preferred broker services

Corporate actions


FIDESSA – EMS Workstation: Greater Execution Integration

Execution management:

Intuitive execution from the block order blotter and market data screens, or from position/portfolio views, provide the end-user to react to fast-moving markets with global FIX network providing connectivity to ADMISI’s gateways.

Program management:

Ability to manage lists or programs of orders using a flexible program trading blotter.

Improved situational awareness of programs/lists as a single entity and group constituents according to multiple criteria.

Additional trading tools:

View positions in real time on a daily/rolling basis.

Trade directly from the positions window and synchronise positions with our clients own internal system utilising the upload facility for seamless onward processing.

Market data:

Full level 1 data, level 2 market depth, Virtual Markets and time and sales display for global equity and listed derivatives markets, together with integrated news feeds.

API and integration:

Whether a vendor-provided OMS, bespoke black box trading platform or a simple spreadsheet, EMS can provide a custom-designed interface in addition to a market data API for trading applications or for direct input into data platforms.


Open Architecture / FIX Solution: EMSX

MULTI-ASSET COVERAGE:

Equities**, CFDs, ETFS, Sector Swaps*, Listed Futures**, Listed Spreads**, Listed Options** (Equity & Index).

CURRENT USERS:

EMSX is currently used by +8500 Institutional users globally with +3500 within EMEA.

850 Firms in Europe use EMSX for Equities.

210 Firms in Europe use EMSX for Futures.

Institutional clients comprise many of the Top 200 Fund Managers, Hedge Funds, Bank to Bank and Proprietary desks.

Source: Bloomberg* Not supported by ADMISI ** Due to be added by ADMISI Q3 2012

AMDISI is a ‘destination broker’ on Bloomberg’s integrated Multi-Asset class EMSX (Execution Management System) as part of the Bloomberg Terminal at no additional cost to Buy and Sell-side users.

Our Institutional clients accustomed to Bloomberg (BBG) can utilise the rich functionality platform via the short code or acronym, ‘EMSX’ to generate multi-asset class orders routed electronically to ADMISI’s FIX infrastructure as DMA or Care Orders.


Open Architecture / FIX Solution: EMSX

MODE OF EXECUTION / ORDER ENTRY:

Embedded with Bloomberg market data, Graphs and New Analysis.

Transactional Cost Analysis (TCA): Pre & Live via EMSX, Post Trade via BTCA.

BASKET Uploads, Excel, API and FIX.

EMSX – Equities, Futures & Options from ONE Multi-Asset Class blotter.

Pre-Trade Blotter:

Team View, Basket View

Unique Pre & Live Trade Analysis

Estimated Market Impact, Participation Rate, Impact VWAP, ADV (3000 Selectable Data Columns)

Fast Trading from Tickets via Quick Buttons to Pre-populate Strategy, Type and ADMISI destination.


EMSX Connectivity via FIX to the client / and or Client OMS

INSTITUTIONAL CLIENTENTERS ORDERS VIA OMS

Institutional client may capture and re-route orders received in EMSX from their OMS or simply enter the orders directly into the BLOOMBERG via EMSX

ADMISIDESTINATION:

EXECUTION DESTINATION

ADMISIDESTINATION:

EXECUTION DESTINATION


EasyTrade trading platform is the core product of EasyScreen since 1998.

As at trading platform it provides speed and stability on futures and options as a result of its direct desktop connectivity.

As an ISV it offers all exchange supported strategies and complete OTC functionality.

EasyTrade is an Euronext tier 1 rated platform.

Strategy Creators provides order adaption for our client base.

EasyScreen offers incorporated sophisticated order functionality such as Icebergs, Stops, IOCs and GTCs.

A series of visual and audible alerts – for size on RFQs, Market Orders and Block Trades enhance end-user situational awareness.

The trading platform has been developed to optimise recent multi core processor and virtualization technologies resulting in a compact infrastructure that offers significant cost savings without impairment to performance or scalability.

Straightforward Ergonomics: Compact infrastructure / Reduced Cost

Risk management is one of the most important features of Easy Active Trade which imports overnight margins and positions from back office systems and provides real time pre trade risk management either by initial margin, P & L or pre-set position limits.

The administrative console allows ADMISI’s Risk department to monitor accounts either by contract, exchange, single account or group of accounts.


CQG Integrated Client: Performance, Innovative GUI, Professional Analytics, Accurate Global Market Data, and Advanced Order Routing.

CGQ Integrated Client Order Execution Includes:

A trade routing application that can be attached to any CQG application, such as a quote board or chart.

Two depth-of-market order book views of the electronic exchanges.

Charts include a trade routing interface and order management window.

Spreadsheet trading, with over 200 market data elements available, includes order routing functionality.

Synthetic and exchange-traded spreads trading from two customizable spread-matrix-style quote displays.

One order routing interface minimizes use of screen real estate.

Comprehensive pre-trade risk management.

CQG Hosted Exchange Gateways, a secure, low-latency order routing service, are installed and maintained for our partner clearing firms.

Multi-legged, inter-market, intra-market and exchange-traded spreads can be created/traded via CQG Spreader.

Orders for outrights based on yields.

CQG’s server-side order routing gateways manage fills when trading similar instruments on 2 or more exchanges (aggregation).

Quoting and Charting Features Include:

High-speed, real-time, and historical market data from +100 hundred global sources.

16 chart styles including end-user live positions.

Portfolio and Instrument Monitors

Customizable continuation charts

8 different Quote display styles.

+100 hundred basic and custom studies

Custom formula builder

Portfolio scans of favorite End-user setups or conditions.

Powerful trade system design and back-testing features

Advanced option strategy analytics.


Provides Order Ticket or DOMTrader®, Quote Board, Order Desk and Orders and Reports window.

End-users can take advantage of this powerful application to view market activity, place orders, and track orders and positions.

The DOMTrader, a depth-of-market order execution tool, provides DOM information that gives traders transparency beyond the best bid and offer across multiple markets.

Traders can use the order entry and cancel buttons to better manage their trades. They can also customize the DOMTrader with eight different color themes.

The Quote Board displays open, high, low, last, and net change.

The Order Desk attaches to any CQG application, such as quote boards or chart.

The Orders and Reports window depicts important account details including working orders, filled orders, account balance, open trade equity for futures, unrealized profit/loss for options on futures, collateral on deposit, and more.

CQG Trader is a high-performance market data and electronic trading entry level platform.

Order Ticket: includes buy and sell buttons and enhanced visibility of the net change and volume.

CQG News: Track market-moving events with cutting-edge CQG News, which displays headlines with varying font sizes, including keyword search and permits traders to adjust the display to their preferences.

Multilingual: Non-English speakers can take advantage of CGG Trader in Chinese, Japanese, Russian and Turkish languages.


Web Based Front End:

Cost effective because it eliminates the need to run third-party software or limit hardware specifications.

Linkage and routing exist over a Secure Server.

Easy to use interface with relevant information providing greater order situational awareness.

Business Logic/Risk Analysis Middleware:

Individual margin and trading permissions.

Orders checked for real-time buying power.

Each account re-margined intra-day.

Complete order history information and account information.

Customer ability to sort/filter orders by specific criteria.

Ability to execute give-up and allocation orders.

Order "parking"; ready to send order with one click.

* Development to exend market coverage to European Futures exchanges (LIFFE and EUREX) are in progress.

OAK is currently issued and administered by ADMIS, Chicago.

Efficient, Seamless Access to US Commodities Futures & Options Markets*:

The OAK System offers a "One Screen Solution", providing customers the ability to route orders to any connected exchange. It has been developed by our sister company ADMIS in Chicago to provide easy web based access, alleviating the headaches associated with running third-party software, such as downloading, installation, ongoing maintenance and system re-configurations.


Main Order Entry Screen:

Simplified and easy to use for a wide range of trades. Search features assist in finding available commodities and contract months. The order status of the order is acknowledged from point of entry until final destination.

Rapid Order Entry Screen:

Ideal for professional traders where time is essential or for an order desk for high volume order entry.

Parked Order Screen:

Allows users to maintain multiple preset orders on a single screen giving you the ability to enter your order with two clicks of the mouse.

Multi-User Configuration

The OAK System provides the capability to configure individual or multiple users with specific margining and trading permissions. OAK has the flexibility to incorporate , on the fly, different trading parameters for any type of trader.

Options Analysis Tool:

This was developed in response to customer requests to see the earnings potential of their current and hypothetical futures and options positions. OAK options provides traders the ability to make presumptions with what-if scenarios to their real and theoretical positions in the future based on time, price, and market volatility.

OAK Options also calculates all corresponding Greek data.

OAK Options can perform these calculations on single trades, multiple positions including a real and theoretical positions.

Features Highlights:

Choose a commodity from the drop down boxes

Select individual options to build a "What-If“ scenario.

Create profit and loss graphs.

See how theoretical positions will act with volatility.

Web and Desktop US Commodities Futures & Options Markets Access:


J-Trader provides ease of deployment and use with the functionality expected from a widely utilised front-end.

It provides an ideal all-purpose trading tool.

J-Trader offers direct market access (DMA) to all ADMISI’s exchange gateways and includes the following benefits:

Advanced functionality, including multi-exchange spreading and one-click scalping.

Real-time profit and loss.

Protection of orders with trailing stops and brackets.

Real-time position updates

Single and multiple account trading.

Deployable on internet, WAN, LAN, leased lines, etc.

Integrated charting and news window powered by Market-Q®

Charting and News:

Provides an integrated charting window with streaming, real-time data.

+30 technical studies with user-changeable parameters.

Fully customizable trend lines, colours, chart types…

News window that offers comprehensive real-time news, including commodities news and the ability to view full stories or just headlines.

Charting and news window powered by Market-Q®

Reliable Electronic Trading Front-end with comprehensive risk management tools and connectivity to global markets.*


Pro-Mark is a premium trading front-end. It was developed to meet the requirements of professional traders - whose business is high volume, high value, cross-market, complex and intensive.

Pro-Mark is the ideal trading tool for traders in proprietary/Buy-Side Houses, Investment banks and other financial institutions.

Pro-Mark provides speed of access at all levels:

Speed of navigation and order entry;

Speed of cancellation, Amendment, Fill receipt, Throughput and Handling.

Pro-Mark supports a wide range of order types and strategies and includes unique and innovative tools that provide detailed market knowledge.

Reflector (Depth of Market) provides a unique depth of market screen with single-click trading, cancelling and amending.

Dynamic prices, price and order locking, dime features, last-traded price, inside market, day high/low, book weighting.

Colour-coded indicators to help users to see spread patterns and identify breakout, support and resistance levels.

Smart, multi-order amendment (amend multiple orders at the same level, using either a pro rata or 'last in/first out' function).

Pro-Mark*: For The High-End Performance Trader in mind.

* Patsystems is currently issued and administered by ADMIS, Chicago.


WebICE: Web Access For Selected Clients to ICE Exchange Contracts.

WebICE is a proprietary browser-based front-end to ICE's electronic trading platform.

WebICE provides instant access to ICE's futures and OTC markets through an internet browser.

WebICE provides commodities traders with leading data security and encryption.

ICE's browser-based solution allows quick and seamless implementation of upgrades and modifications ensuring the latest features are always on the user’s screen.

WebICE Features Include:

Single-click order entry and trading functionality.

Seamless integration from Excel formulas into WebICE via ICEMaker

Position Keeper tracks daily buys and sells on the exchange affording a trader real-time P & L numbers

Fully configurable trading screen to maximize desktop area based on each traders' specific needs

WebICE View Only:

The view only version of the trading platform is enabled to receive the same views of the market that trading participants receive. It provides real-time streaming quotes and market depth (Level II ) data.


YellowJacket brings unparalleled efficiencies to the negotiated off-exchange options markets.

Used in the commodity and equity derivative markets, YellowJacket allows customers in the upstairs markets to leverage advanced technology traditionally only applicable to electronic trading.

YellowJacket's trade communication platform allows traders to instantly evaluate pricing shows and respond to counterparties in seconds.

Integrated Analytics:

Quickly identify which broker quotes have edge by viewing real-time analytics powered by the end-user’s own model or YJ's third party partners.

Proprietary Data:

Incorporate prices from selected brokers directly into internal systems in order to maintain accurate volatility curves and historical databases.

Full Market View:

View colleagues' broker prices to ensure the entire desk has an accurate picture of the entire market.

Quick Response:

Automatically respond over IM to brokers based on inputs from your proprietary system.

Easy Access:

YellowJacket interfaces with existing instant messaging systems, no changes to current accounts are necessary.

Execution:

Consolidate broker markets and ICE electronic markets in a single view. Execute and float orders on any ICE electronic market and launch RFQs directly from YJ.

ICE’s YellowJacket: Negotiate Off-Exchange Options.


Introducing RTS / RTD Tango Trader (LME and CME Exchanges only):

Internet-based, easily deployable Java-based front-end White label opportunities Easy connection to 130+ exchanges and execution venues Integrated risk management Hassle-free hosting solutions

PERFORMANCE

Server-based Algo executions Sub-millisecond internal latency STABILITY One environment for coding, testing and deployment Server-based technology

CONNECTIVITY

Multi-asset class capabilities High speed access to 120+ exchanges FIX based Algorithm routing

TIME TO MARKET

Code and deploy Algorithmic orders in days Deployable over the internet Fully deployable and hosted environment Off-the-shelf solutions


Electronic Platform Functionality Matrix:

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Platform:

OAK WebOAK DesktopBloomberg EMSXFidessa ETPFidessa ETP RemoteFidessa EMSTrading Technologies Xtrader ProEasyScreen EATPatsystem J-TraderRTSWebICECQGLMEselectCME ClearPortCurrenex360T Trading Netw orksIntegral FX


Application Programming Interface (API)

Through our existing ISV’s ADMISI currently offers Application Program Interface (API) integration to our client Order and Execution Management Systems via the following products:

Provides API connectivity between selected ISV Front-ends,OMS and Developer platforms.

Automation of execution instructions between black-box and FIX.

Fully supported and dedicated test environments provided fromsome selected ISV solutions.


SUMMARY:

Indirectly a wholly owned subsidiary of Archer Daniels Midland with strong Balance Sheet and Credit strength credentials.

One of the largest Non-Banking FCMs in the industry.

Investor Service units are Clearing members of all US & key International Markets.

Electronic access and floor presence to respective markets including Equities, Fixed Income, Foreign Exchange, Futures and Options and Commodities.

Bespoke client management with customer focus 24 hours.

Non Proprietary Trading.

Execution expertise with specialisations across a broad range of global markets and respective products.

Highly diverse non-Banking weighted client base.

Multiple ISV and Agnostic Electronic solutions to Client Driven requirements.



ADMISI ELECTRONIC SERVICES GROUP: Tel: +44 (0)20 7716 8128Email: [email protected]

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