CA Cheuvreux Incorporates Smart Trade`s Technology into its Blink European Equity Crossing Network

Enables Broker`s Clients to Execute Orders from their Desktops, Optimise
Execution and Reduce Latency
NEW YORK, LONDON & PARIS--(Business Wire)--
CA Cheuvreux, the global equity agency-only brokerage and a subsidiary of
Calyon, the corporate and investment banking arm of the Credit Agricole Group,
announced today that it has implemented the Smart Trade LiquidityCrosser, a
robust, fast-time-to-market crossing engine as part of its internal crossing
strategy, matching retail, institutional, program, algorithmic and direct market
access (DMA) flow coming into the firm. By drawing on its broad reach and market
share throughout Europe, CA Cheuvreux has created a European crossing network
for equities where clients can execute orders from their desktops, reducing
latency and optimising execution.

According to Bertrand Patillet, executive vice president of CA Cheuvreux, "In
order to provide our customers with improved latency and best execution, client
orders are sent through our internal liquidity pools, crossed against internal
agency flow in Blink, our internal crossing network, before duplicate orders are
channeled into the open market. When orders are filled first internally, we
delete the orders, automatically and simultaneously pulling the duplicate orders
from displayed venues."

"After a rigorous review process, Smart Trade`s LiquidityCrosser was selected
for the highly robust nature of its crossing/matching engine and the firm`s
fast-time-to-market capability," added Salomon Edery, head of information
systems at CA Cheuvreux.

"Understandably, we`re very pleased that CA Cheuvreux has implemented
LiquidityCrosser, an integral part of our liquidity management system, to
enhance its internal crossing network," said Harry Gozlan, founder and CEO at
Smart Trade, specialists in delivering liquidity management systems. "From our
initial conversations, CA Cheuvreux clearly delineated its interest in finding
solutions designed to attract increased liquidity in an extremely volatile
post-MiFID environment, reduce market impact, and provide its expanding customer
base with even faster trade execution. We look forward to working closely with
the brokerage on other projects."

In addition to LiquidityCrosser, the Smart Trade liquidity management system is
comprised of a LiquidityAggregator, LiquidityOrchestrator, a smart-order router
and LiquidityConnect, the link to multiple execution venues.

About Smart Trade

Founded in 1999 by former IT and trading professionals from Citigroup, Credit
Agricole and Société Générale, Smart Trade automates execution across the
enterprise by providing the financial markets with the most sophisticated
liquidity management system (LMS) that enables investment banks, brokers and
exchanges to streamline their execution process across multiple-asset classes
around the globe. For more information, visit http://www.smart-trade.net.

About Crédit Agricole Cheuvreux

CA Cheuvreux is Crédit Agricole Group's European equity broker and a subsidiary
of the group's corporate and investment bank Calyon. Its research team covers
nearly 800 stocks in Europe and the Middle East. Its range of execution and
sales trading services covers more than 60 European, North American, Middle
Eastern and South African markets. Its robust suite of global electronic
execution offerings includes DMA, program trading, algorithmic trading and CFDs.
CA Cheuvreux has 15 offices worldwide: Amsterdam, Athens, Frankfurt, Istanbul,
London, Madrid, Milan, Paris, Stockholm, Vienna, Zurich, Dubai, New York, San
Francisco, and Tokyo. www.cheuvreux.com.

martinrabkinink
Martin Rabkin, 914-420-5739
mrabkin@martinrabkinink.com

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