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Scotia Capital Inc. selects Beauchamp Financial Technology for Prime Broker Systems Solution

Date: Thursday, November 20, 2003

Today, Beauchamp Financial Technology (BFT) announced that it had been selected by Scotia Capital, a subsidiary of a leading Canadian financial institution, Scotiabank, to provide a fully integrated trading and portfolio management solution for its Prime Broker system and a front-end application solution for hedge fund clients. Scotia Capital has licensed BFT’s flagship FundManager product and the Trading Data Platform (TDP). It will deploy the TDP as a data warehouse for the Prime Brokerage business. Scotia Capital will also bundle FundManager in its client portal as a full portfolio management and trading solution for its hedge fund clients. The openness, scalability, functional richness, configurability, multiple asset class and currency capability were key considerations in the evaluation process. Colin Bugler, Global Head of the Prime Brokerage business at Scotia Capital, stated, “At Scotia Capital, we are committed to meeting our clients’ needs through the latest technologies. In a dynamic and complex hedge fund market, adopting solutions like Beauchamp’s product help us deliver on our commitment and meet our growing and evolving business requirements.” Steve Victore, Director of Sales & Marketing at BFT, said, "We believe that Scotia Capital’s decision to use BFT’s real-time architecture, the Trading Data Platform (TDP), as the hub of its Prime Broker business is an important step forward for BFT as we evolve towards the most comprehensive solution for service providers and investment managers in the Alternative Investments community. This is new business for BFT, but fully in line with our strategy of being the first choice of hedge fund managers around the globe.” Stuart Farr, Chief Executive Officer of BFT added, “ Working with Scotia Capital is an important part of our strategy to become the dominant provider of hedge fund software solutions to fund managers in North America. The Scotia offering perfectly complements our distribution and development strategies.”