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BrokerTec Clearing Company Appoints New Chairman And Vice Chairman - Frank Perrone And Ronald Filler To Head BCC Board Of Directors

Date 01/10/2002

BrokerTec Clearing Company, L.L.C. (BCC), the clearing affiliate of BrokerTec Futures Exchange L.L.C. (BTEX), announced today the appointment of Frank Perrone from Deutsche Bank Futures, Inc. as Chairman and Ronald Filler from Lehman Brothers Inc. as Vice Chairman.

Mr. Perrone has over 20 years of experience in the futures industry and is currently Director of Operations at Deutsche Bank Futures, Inc., where he is responsible for North American futures and options operations. He has been with Deutsche Bank Futures since 1998. Prior to that, Mr. Perrone worked at Brody White & Company, Inc. as Executive Vice President and Chief Operations Officer. He is also currently the President of the FIA Futures Services Division.

Mr. Filler is Sr. Vice President and Director of Institutional Futures Administration at Lehman Brothers Inc. and is the supervisor of the Futures Client Services Group, which deals directly with all of the firm's institutional futures clients. Prior to joining Lehman Brothers in 1993, he was a Partner and Member of the Executive Committee of Vedder Price Kaufman & Kammholz. Mr. Filler has been actively involved in the futures industry for over 25 years and has been an Adjunct Professor of Law at Chicago-Kent College of Law and at Brooklyn Law School for over 23 years. He is also a former President of the FIA Law and Compliance Division.

"Frank and Ron are two of the more experienced and respected individuals in the futures industry and they will be indispensable as we continue to respond to the industry's concerns, not to mention the fact that they represent two of the world's most important financial institutions," said Hank Mlynarski, President of BrokerTec Clearing Company, L.L.C. "Much as their firms add to the financial strength of our clearing association, each of them adds immensely to the business acumen of our organization - a highly efficient, financially sound, low-cost solution for the trading and clearing of financial futures."