Bondtrac Releases New Features in Portfolio Manager Tool on Bondtrac XT

OKLAHOMA CITY, OK - February 7, 2005 - Bondtrac has completed a number of new enhancements to the Portfolio Manager tool that provide some exciting new capabilities. These new enhancements include features that broaden the security types supported on portfolios, a new portfolio report, additions to the summary report, and better description entry capabilities.

Support for CMO/MBS
Clients now have the ability to enter their own CMO/MBS security descriptions including a factor that is used to calculate the interest payments so that CMO/MBS securities can be listed with other securities in a portfolio. The Portfolio Holdings report was modified to take the factor into account when displaying the principal for mortgage-backed securities. The factor is also displayed along with the description in the list.

Support for Perpetual Securities
Modifications have been made to support perpetual securities such as preferred stocks and other securities that do not have a maturity date. The accrued interest and interest income calculations were refined for perpetuals. When sorting by maturity, these securities are listed at the end of the report. A new category was added for 'Perpetual' securities on the security type breakdown of the Portfolio Summary report. This shows the percentage of the portfolio consisting of perpetual securities if the portfolio contains securities of this type.

Annual Cash Flow Report
The new Annual Cash Flow report is a much improved version of the Monthly Income report. But, where the Monthly Income report shows the interest payments for a generic year, the Annual Cash Flow report is an accurate depiction of the yearly cash flows beginning from the first day of the next month. It shows the return of the original principal when a bond matures. It calculates and display the interest payments of CMO/MBS securities based on the current face value, factor, and interest frequency.

Sorting and Grouping on Reports
The portfolio reports have been enhanced to allow the user to select how the securities on the reports should be grouped and sorted using a drop-down box titled 'Group By' at the bottom of the page. The securities on the report may be grouped by various data categories or not grouped at all. The report may be resorted by clicking on a column header as on the offering list reports. When resorting, the holdings are first grouped and then sorted within each group.

Updates to Step Coupon / Variable / Adjustable / Floating Rate Securities
The descriptive information displayed for variable rate securities is now more complete. And, support has been added to the description entry form for a variable coupon indicator.

Email Notification and Print-to-Email Updates
Features that send email out of our system such as the email notification and print-to-email functions have been updated to conform to guidelines provided by current clients. This should allow the email to be delivered to a wider audience without as much possibility of being classified as spam.

About Bondtrac

Bondtrac, a privately-held corporation founded in 1989, provides the largest fully disclosed source of more than 30,000+ fresh municipal, corporate, agency, CD, zeros, STRIPs, internationals, mortgage-backed and US treasury offerings to more than 40,000 users in brokerage firms and dealer banks. Bondtrac is available by subscription to www.bondtrac.com and through enterprise integrations that provide client firms with private-label bond trading and information systems built using the Bondtrac web-based services.