The Philadelphia Stock Exchange’s Innovative Technology Wins Two Industry Awards

For more information, contact Barbara Sorid at 215-496-5200 or by e-mail

PHILADELPHIA – September 21, 2004 - The Philadelphia Stock Exchange (PHLX) announced today that it has received two industry awards for its innovative trading technology.

The PHLX was the recipient of the of the first Sun Microsystems Stellar Performance Award 2004 and the Best Practices in Enterprise Management Award from Computerworld’s Enterprise Management World, an industry publication.

At an awards ceremony in New York City today, PHLX Chief Information Officer, William H. Morgan, accepted the Sun Microsystems Stellar Performance Award for innovative use of the Sun Solaris 10 Operating System that has helped boost PHLX’s trading systems capacity and performance. "This type of capacity enhancement is crucial to us at a time when we are expanding our electronic options trading model, PHLX XL," said Morgan. "As we migrate to a more electronic trading model, our capacity needs will more than triple and Sun Microsystems continues to provide us with products that enable us to quickly scale our systems to better meet the demands of customers and member firms."

The Best Practice Management Award given out earlier this month honored the PHLX for the innovative process used for monitoring information security across all PHLX trading systems. "We took the information provided by Consul Risk Management, Inc., a worldwide leader in security audit and compliance solutions, and constructed a consolidated monitor and automated a manual process that allows the PHLX to be proactive vs. reactive in performing security management," said Bernard Donnelly, PHLX vice president of Quality Assurance. "This further strengthens our ability to protect floor members and member firms as we continue to roll out PHLX XL," he said.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 2,000 stocks, 1,500 equity options, 17 sectors index options and currency options and futures. For more information about the PHLX and its products, visit www.phlx.com.

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