CBOE Signs Agreement With Belzberg For CBOE HyTS Terminals

The Chicago Board Options Exchange, Incorporated (CBOE) today announced it has signed a definitive agreement with Belzberg Technologies, Inc. whereby Belzberg's affiliate, Electronic Brokerage Systems, LLC will make the CBOE Hybrid Trading System (HyTS) Terminal available to traders as a multifunctional solution for trading options. HyTS Terminal users will be able to obtain complementary functionality for stock and futures exchanges from EBS. The CBOE and Belzberg previously announced a letter of intent to engage in such a transaction.

The CBOE HyTS Terminal, which is now available, provides CBOE customers with immediate point-and-click access to CBOE markets and other U.S. options exchanges. The HyTS Terminal also provides access to real-time, streaming quotes from all U.S. options exchanges, other market data, and order management with trade-log capabilities-all on a single screen.

"The demand on the street for the HyTS Terminal has been exceptionally strong and we will begin installing terminals immediately" said Ed Provost, CBOE Executive Vice President. "The HyTS Terminal will be the main portal for entering orders into our new Hybrid Trading System and allow the users access to options trading functionality that has never been available in the past," Provost added.

The CBOE HyTS Terminal will be a cost effective, highly efficient means for customers to access CBOE's new Hybrid Trading System, which will become available in late May 2003.

CBOE, regulated by the Securities and Exchange Commission (SEC), is the creator of listed options, and the world's largest options marketplace. For additional information about the CBOE and its products, visit the CBOE website at www.cboe.com.

Belzberg Technologies provides the software and networks that enable global, direct access routing and execution of trades for financial institutions in the United States, Canada and Europe. Additional information is available at www.belzberg.com.