Case Study: American Century’s use of FIX Allocations Scott Atwell American Century Investments Co-chair FIX Technical Committee Aug 7, 2003

Scott Atwell - American Century® Investments2 Case Study: American Century’s Use of FIX Allocations - New York – Aug 7, 2003 American Century’s STP Today Order Management System Portfolio Accounting System PMs Traders Accountan ts Broker/Dealer Custodian FIX ISITC

Scott Atwell - American Century® Investments3 Case Study: American Century’s Use of FIX Allocations - New York – Aug 7, 2003 American Century’s STP Today Use broker web sites and vendor systems to access broker research –Member of the RIXML initiative Use FIX for all pre-trade, trade, and post-trade communication with brokers in real-time Use ISITC for batch-driven communication with custodians

Scott Atwell - American Century® Investments4 Case Study: American Century’s Use of FIX Allocations - New York – Aug 7, 2003 AC’s FIX Activity: Jan 1, Dec 31, 2002 Processed 9.4 million IOIs (2.6 million from ECNs) –peak day over 80,000 Processed 2.9 million Execution Reports –peak day over 24,000 –99.7% of total U.S. and int’l equity trading –99.9% of all U.S., 99.3% of all int’l trading Sent FIX Orders for 94% of all orders (98% U.S., 82% int’l) –peak day over 1000 Sent 87,000 FIX Allocation messages (54% of U.S., 33% int’l) –peak day over 860 (block allocations)

Scott Atwell - American Century® Investments5 Case Study: American Century’s Use of FIX Allocations - New York – Aug 7, 2003 AC’s FIX Allocations: Jan 1, Jun 30, 2003 Sent 46,000 FIX Block Allocation messages –88% of US and ADRs, 36% of int’l Represented 125,000 allocation accounts (within block) –81% of US and ARDs, 29% of int’l Virtually all major brokerage relationships accept US and ADR FIX Allocations from ACIM