BOSTON, MA (August 19, 2004) – onExchange, Inc., a derivatives and securities trade-processing technology software vendor today announced it has been acquired by The Clearing Corporation, the only active independent futures clearinghouse in the world. Revolution Partners, LLC, acted as financial advisor to onExchange, Inc.

The acquisition of onExchange is expected to enhance the services Clearing Corporation can offer. The purchase includes onExchange’s two subsidiaries, onExchange Board of Trade, Inc., and onExchange Clearing Corporation. The former has been licensed as a designated contract market, and the latter has been licensed as a derivatives clearing organization by the Commodity Futures Trading Commission.

Richard Jaycobs, Chief Executive Officer of onExchange, has more than 20 years experience in the technology and the futures industry. Mr. Jaycobs will be joining The Clearing Corporation as a member of the senior management team and will continue to manage onExchange’s business activities.