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This interview is a small excerpt from a comprehensive interview published in The Wall Street Transcript as part of the Technology Sector, available at (001-212-952-7433) or http://www.twst.com/sectors/techno.html

TWST: Could you describe the company structure for those not familiar with FFastFill?

Mr. Todd: FFastFill is a company that provides application services for trading and risk management in electronic markets. It originated as a software development company but has now moved into the service management business. Do you want me to elaborate?

TWST: Well, could you talk about the company’s history and products and services?

Mr. Todd: The company was founded in 1998, and was admitted to the AIM, the Alternative Investment Market in London, in November 2000. The software was developed to provide risk management and electronic trading access, to the derivatives exchanges here in Europe. The company today has three businesses: application service business, an introductory brokerage service which is based out of Chicago dealing with the CBOT and CME. And it also has an activity in Prague for financial software development. The major offerings today are, on the application services side, trading and risk management software. On the service side, exchange connectivity delivering highly resilient exchange connections and on the brokerage side, as I’ve mentioned, the introductory brokerage in North America. The company employs about 70 people; about ten of them in North America; approximately 40 in Prague in our development centers and about 20 people in London.

TWST: Could you talk more about your Ffasttrade product as far as electronic trading?

Mr. Todd: Yes, the trading product is for the derivatives marketplace to allow traders to trade futures and options on all the major derivative exchanges including LIFFE, Eurex, CBOT, CME.

TWST: What is your market share in Europe now and in the US?

Mr. Todd: At the moment, it’s a small company. Last year revenues were about 1.4 million dollars. Most of the business was in the UK.

TWST: Can you talk about who you mainly compete with? Who are your major competitors in this space?

Mr. Todd: Well, there are competitors in two different areas. There are the traditional software providers such as PatSystems and Trading Technologies, for example. But application service is a new market opportunity where the competition, if you can call it that, is really the internal IT departments of major companies and investment-banking operations who are operating in the derivatives trading market.