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Patricia Campbell
Peregrine Financial Group, Inc. (PFGBEST)
(312) 775-3411


PFG, Inc. and Trading Technologies International, Inc. Resolve Electronic Trading Patent Dispute

Boca Raton, Florida, March 16, 2006 Peregrine Financial Group, Inc. (PFG) and Trading Technologies International, Inc. (TT) today jointly announced that they have signed a settlement agreement that will resolve the patent lawsuit brought by TT. Under the settlement, TT acknowledged that it has never asserted infringement against PFG’s BEST Direct™ online trading platform and agreed that the BEST Direct™ product does not infringe the patents-in-suit. The settlement agreement shall become effective upon the entry by the Court of a Consent Judgment finding that the BEST Direct Fast product, which was developed by TradeMaven LLC and made available by PFG for a short time, infringes the patents-in-suit and finding that the BEST Direct™ product does not infringe the patents-in-suit. Both companies are participating in the Futures Industry Association Annual Conference in Boca Raton.

“We are happy to conclude another settlement related to our MD Trader® patents. The lawsuit was based on a product that PFG purchased from TradeMaven and called BEST Direct Fast. We never asserted the patents-in-suit against PFG’s BEST Direct trading system. I understand that BEST Direct has been around for a number of years and TT has agreed that this system does not infringe the patents-in-suit,” said Harris Brumfield, CEO of TT.

“PFG believes in respecting innovations in the electronic trading space and believes that PFG has been the source of innovations that provide important benefits for individual investors and traders in our BEST Direct trading system. This system was developed in the 1990s. I am happy that PFG and TT have been able to resolve the lawsuit and to clarify that PFG’s BEST Direct trading system has not been implicated by TT’s patents,” said Russell R. Wasendorf, Sr., chairman and CEO of PFG.

About Trading Technologies:

Trading Technologies ( develops high-performance trading software for derivatives professionals, including the world’s premier exchanges, money-center banks, proprietary traders, securities brokers, Futures Commission Merchants (FCMs), hedge funds and other trading institutions. The company’s software and services provide direct access to the world’s major derivatives exchanges. Headquartered in Chicago, Trading Technologies maintains a worldwide presence with offices in New York, London, Frankfurt, Hong Kong, Tokyo and Sydney. In 2004, Trading Technologies was named the best technology company to work for in Chicago by Chicago magazine and ranked third among all Chicago area employers.

About PFG:

PFG ( is one of the largest non-clearing FCMs in the U.S., with brokerage and branch offices in more than 20 countries. It offers a diverse range of trading and investment products and services. The company is a leader in managed funds and other alternative investments, full-service futures brokerage, and forex products and services.