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FOR IMMEDIATE RELEASE

XPRESSTRADE ANNOUNCES INTRODUCTION OF TOTALLY ELECTRONIC CONTINGENT ORDER ENTRY CAPABILITY FOR FUTURES TRADERS

Chicago, IL (April 23, 1999) — XPRESSTRADE, LLC, the Internet-based futures brokerage firm headquartered in the Chicago Mercantile Exchange Center, announced this morning the addition of a new contingent order entry feature to its existing Internet services for self-directed futures and option traders. XPRESSTRADE is the first Internet futures broker to offer electronic contingent order entry, and the new feature is expected to give online futures traders more convenience and control than ever.

XPRESSTRADE'S new feature allows futures traders to enter a primary futures order and up to two contingent orders simultaneously via the Internet, though the contingent orders are queued by the XPRESSTRADE system until the primary order has been executed. Once the primary order has been filled, any associated contingent orders are activated and routed directly to either the Globex system, and electronic device used by a floor broker in the pit, a trading desk on the exchange floor, or the XPRESSTRADE Trading Center for execution. Contingent orders may be entered either at an exact price or at a specified distance above or below the price at which the primary order is filled.

Given this new tool, any futures trader may enter an outright order to establish a new position in the market, a limit order at his profit objective, and a protective stop order at the same time, and the XPRESSTRADE system will process them in the intended sequence. This relieves the trader from having to wait for a confirmed fill on the primary order prior to placing additional orders to take profits or protect against losses. Now, all orders may be placed simultaneously, and the XPRESSTRADE system will automatically activate contingent orders upon receiving a confirmed fill on the primary.

XPRESSTRADE places on of the futures industry's most powerful arsenal of tools and services — including Internet trading, quotes and charts, and real-time account information- at the fingertips of self-directed futures and option traders, thereby empowering them and giving them unparalleled convenience and control. XPRESSTRADE has created a secure, reliable, personalized trading environment that requires no additional software and that is accessible 24 hours a day, 7 days a week from anywhere on the globe. Because of efficiencies related to its all-electronic business model, XPRESSTRADE offers one of the lowest commission rate structures in the futures industry.

XPRESSTRADE is registered with the National Futures Association as an Introducing Broker and is guaranteed by ADM Investor Services, a wholly-owned subsidiary of the Archer Daniels Midland Company, one of the world's largest processors and marketers of agricultural commodities. ADM has been a Chicago Board of Trade member firm since 1927 and is a Fortune 100 Company, with 1998 sales of $16.1 billion and shareholders' equity of 6.5 billion.

 

Contacts: Marcia E. Cremin, Philip D. Kepler, or Daniel E. O'Neil

(800) 947-6228, (312) 715-6228, or info@xpresstrade.com

 
 
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