Document:

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                                                                  EXHIBIT 10.19
                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                                   AGREEMENT

                        (Table of Contents is attached)

                  This AGREEMENT (the "Agreement") is entered into and
effective as of the "Effective Date" (as defined in Section 17.1) by and
between IBM Canada Limited ("IBM Canada"), a corporation having an address at
3600 Steeles Avenue East, Markham, Ontario LJR 927 Canada, and ISM Information
Systems Management Corporation ("ISM"), a Saskatchewan corporation having an
address at 245 Consumers Road, North York, Ontario M2J IR3 Canada (IBM Canada
and ISM, collectively "IBM") on the one hand, and OptiMark Technologies Inc., a
Delaware corporation having an address at 10 Exchange Place, 12th Floor, Jersey
City, New Jersey 07302 USA ("OptiMark") on the other hand.

                                   WITNESSETH

                  WHEREAS, OptiMark and IBM have discussed OptiMark's licensing
of certain ISM software known as the "ITS Application Product," and the further
development of modifications to the ITS Application Product and additional
software for use in an implementation of OptiMark's proprietary trading system;
the discussions concerning such licensing and development have been
memorialized in various Documents of Understanding, the most recent of which is
Document of Understanding #3 dated August 25, 1998.

                  WHEREAS, for the purpose of development of such software for
the implementation of OptiMark's proprietary trading system and pursuant to
understandings and agreements of confidentiality (which have been recently set
forth in the "Amendment and Restatement of Agreement for the Exchange of
Confidential Information" entered into as of May 29, 1998), OptiMark and IBM
have exchanged confidential information concerning their proprietary technology
and plans which the parties have agreed to maintain in confidence and use only
for purposes of developing the implementation of OptiMark's proprietary trading
system;

                  WHEREAS, the ISM and OptiMark have also entered into an
agreement for the use of other software known as "TMAX-s" and "SIB" with terms
set forth in the "TMAX Agreement" (as defined below);

                  WHEREAS, the parties now wish to set forth the terms for the
licensing and use of the ITS Application Product and other software developed
to implement an embodiment of the OptiMark Proprietary System (the "ITS
Software" and "OPS Modified Work" as defined below);

* This confidential portion has been omitted and filed separately with the
Commission.

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                  NOW THEREFORE, in consideration of the premises stated in
this Agreement and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows to
the terms and conditions of this Agreement:

1.0      DEFINITIONS

1.1      AGREEMENTS:  The following agreements are referenced in this Agreement
         as follows:

         a)       "AGREEMENT" means this Agreement and its Schedules A through
                  E which are incorporated as if fully stated in this
                  Agreement;

         b)       "CONFIDENTIALITY AGREEMENT" means the "Amendment and
                  Restatement of Agreement for the Exchange of Confidential
                  Information" entered between IBM and OptiMark as of May 29,
                  1998;

         c)       "MAINTENANCE AGREEMENT" means an agreement which may be
                  entered into between the parties concerning IBM's providing
                  of services for the maintenance of the ITS Software and OPS
                  Modified Work at the First Exchange;

         d)       "MANAGED OPS AGREEMENT" means an "Agreement for Technology
                  Services" which may be entered into between IBM-Canada and
                  OptiMark for the providing of services related to the
                  management and operation of a computer site for the First
                  Exchange (as defined below); and

         e)       "TMAX AGREEMENT" means the "Software License Agreement"
                  signed by ISM and OptiMark June 24 and 25, 1998 respectively,
                  which is referred to in the recitals above.

1.2      "CUSTOMER(S)" means stock exchanges, financial institutions and other
         customers and/or end-users of the OptiMark Proprietary Systems,
         including but not limited to broker-dealers, individual investors,
         boards of trade, and commodities exchanges which are sublicensed under
         and within the ownership and grant of rights set forth herein.

1.3      "IBM-INVOLVED APPLICATIONS" means one or more of the following: the
         ITS Software, the OPS Modified Work, the TMAX Work, and/or the TMAX
         Modified Work.

1.4      "IBM RELATED COMPANY(IES)" means International Business Machines
         Corporation (New York, U.S.A.) and any entity:

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                  (1)      a majority of whose voting shares or securities are;
                           or

                  (2)      which does not have voting shares or securities, but
                           a majority of the right to make decisions for such
                           entity is;

         now or hereafter, owned or controlled, directly or indirectly, by
         International Business Machines Corporation, but such entity shall be
         deemed to be an IBM Related Company only so long as such ownership or
         control exists.

1.5      IMPLEMENTATIONS:  The following implementations are referenced in this
         Agreement as follows:

         a)       "FIRST EXCHANGE" or "PACIFIC EXCHANGE" means the
                  implementation of an OptiMark Proprietary System for the
                  trading of securities via the Pacific Exchange, scheduled to
                  go on-line on the Launch Date (defined below).

         b)       "ADDITIONAL EXCHANGE(S)" means the implementation of an
                  OptiMark Proprietary System for trading or auction via any
                  exchange other than the Pacific Exchange, such as via NASDAQ,
                  other financial exchanges, Internet merchandise or service
                  exchanges (e.g. "Travelocity"), etc.

1.6.     "ITS APPLICATION PRODUCT" means the software product marketed by IBM
         before the Work Commencement Date to perform functions related to
         integrated trading, which software has been programmed for the Tandem
         computer platform.

1.7      "ITS SOFTWARE" means: (i) the version of the ITS Application Product
         (including without limitation software known as "TMAX-H", but
         excluding the TMAX and other software licensed or owned under the TMAX
         Agreement) in both source and object code forms which existed as of
         the Work Commencement Date (defined below) to be identified in
         Schedule A, including without limitation the software components
         thereof; (ii) documentation related to the ITS Application Product
         described in "(i)" above as of the Work Commencement Date which is
         also to be identified in Schedule A; and (iii) the ITS
         Software-UNIX-Version (as defined in the paragraph below).

         "ITS SOFTWARE-UNIX-VERSION" means the Ported Version of the ITS
         Software described in "(i)" above that is translated into or rewritten
         in the C++ computer programming language code by IBM, that ports the
         functions of such ITS Software written for the Tandem computer
         operating system to the UNIX (AIX version) computer operating systems
         and which IBM will provide to OptiMark as described in Section 3.4.
         The ITS

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         Software-UNIX-Version does not include any OPS Modifications or any
         Ported Versions of OPS Modifications.

1.8      "LAUNCH DATE" means that date when the OptiMark Proprietary System
         that is currently being developed for the trading of securities via
         the Pacific Exchange first goes on-line for trading of the securities
         of Customers, a date currently contemplated to be on or about January
         15, 1999.

1.9      "OPS MODIFICATION(S)" means any:

         a)       "IBM-MADE MODIFICATION(S)" which means corrections,
                  modifications, enhancements, or other developments to the ITS
                  Software or OPS Modified Work (either the code or
                  documentation)  made by IBM on behalf of OptiMark, or
                  otherwise in connection with any development service provided
                  by IBM for OptiMark made after the Work Commencement Date,
                  whether made before the Effective Date (as defined in Section
                  17.1) or after, including but not limited to: (i)
                  modifications used to create software for any OPS User Server
                  Copies (defined below); (ii) modifications used to create
                  software pursuant to the Maintenance Agreement; and (iii)
                  Ported Versions, excluding the ITS Software-UNIX-Version,  of
                  the corrections, modifications, enhancements or other
                  developments to the ITS Software or OPS Modified Work; or

         b)       "OPTIMARK-MADE MODIFICATION(S)" which means corrections,
                  modifications, enhancements or other developments to the ITS
                  Software or OPS Modified Work (either to the code or
                  documentation) made by OptiMark or any third party on behalf
                  of OptiMark other than IBM, including but not limited to any
                  creation of a Ported Version of the ITS Software or OPS
                  Modified Work, and any corrections, modifications,
                  enhancements or developments made to the ITS Software to
                  create any OPS User Server Copies.

1.10     "OPS MODIFIED WORK" means the ITS Software (including without
         limitation the ITS Software-UNIX-Version) (code and/or documentation)
         as modified, corrected, enhanced, ported or further developed by any
         of the OPS Modifications and any version of the OPS Modified Work
         which is further modified, corrected, enhanced, ported or further
         developed by any of the OPS Modifications.

1.11     "OPS USER SERVER COPY(IES)" means copies of those software components
         of the ITS Software or OPS Modified Work used for Customers to access
         and otherwise use the OptiMark Proprietary Systems and copies of those
         portions of the documentation for the

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         ITS Software or OPS Modified Work provided to Customers to support
         their use of the OPS User Server Copy software.

1.12     "OPTIMARK AUCTION PROCESS FIELD" means the field of services relating
         to auction-type trading by the matching of orders or requests using
         satisfaction density profiles and the like and specifically includes,
         for example and without limitation, the field of financial services
         and the trading of securities.

1.13     "OPTIMARK LICENSABLE MODIFICATION ELEMENTS" means those software code
         module elements of the OPS Modifications existing on the Launch Date,
         and which are selected thereafter by mutual agreement of the parties
         (and pursuant the procedure outlined in Schedule B) to be licensed to
         IBM for IBM's use pursuant to Section 2.3 of this Agreement, it being
         provided however, that the OptiMark Licensable Modification Elements
         shall specifically exclude the OptiMark Proprietary Elements (whether
         in source or object code form), if any, which might otherwise have
         been included as part of the OptiMark Licensable Modification
         Elements, and all documentation related thereto, if any. Those
         selected software code module elements shall be identified promptly
         after the entire selection is complete in writing as determined
         pursuant to Schedule B of this Agreement.

1.14     "OPTIMARK NEW WORK" means software that OptiMark may create, develop
         or acquire which does not incorporate any ITS Software code, except
         for code which executes standard routines (whether or not it is used
         in ITS Software). OptiMark may freely use OptiMark New Work (for
         example as an alternative in whole or in part to the ITS Software,
         defined below); and, in particular, it is agreed between the parties
         that OptiMark shall be free to create, develop, market, acquire, use,
         and otherwise exploit such OptiMark New Work, and to permit others to
         do so, without any restriction or the requirement of any further
         agreement or license even though, for example, there may be
         functional, design or other similarity between the OptiMark New Work
         and the ITS Software and/or the OPS Modified Work, or the OptiMark New
         Work may have been created by persons who had knowledge of such work,
         or the OptiMark New Work may function with the ITS Software or OPS
         Modified Work in whole or in part.

1.15     "OPTIMARK PROPRIETARY ELEMENT(S)" means those computer software
         elements in code and design that relate to any OptiMark proprietary
         aspect of the OptiMark Proprietary Systems, (as defined below),
         including, for example, any element related to satisfaction density or
         other trading profiles, message elements related to such satisfaction
         density or other trading profiles, elements related to OptiMark's
         graphical user interface or

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         proprietary messaging protocols or elements related to any aspect of
         OptiMark's technology for matching trading profiles and executing
         trades based thereon.

1.16     "OPTIMARK PROPRIETARY SYSTEM(S)" means systems that OptiMark develops,
         creates or acquires to implement its proprietary technology for
         trading or auctioning in the OptiMark Auction Process Field.

1.17     "OPTIMARK RELATED COMPANY(IES)" means OptiMark Technologies, Inc.
         (Delaware, U.S.A.) and any entity:

                  (1)      a majority of whose voting shares or securities are;
                           or

                  (2)      which does not have voting shares or securities, but
                           a majority of the right to make decisions for such
                           entity is;

         now or hereafter, owned or controlled, directly or indirectly, by
         OptiMark Technologies, Inc., but such entity shall be deemed to be an
         OptiMark Related Company only so long as such ownership or control
         exists.

1.18     "PERSON(S)" includes an individual, corporation, partnership, joint
         venture, trust, unincorporated organization, a government or any
         agency or instrumentality thereof or any other entity recognized by
         law.

l.19     "PORTED VERSION" means a translation of a computer program in another
         program language or any other modification of a computer program work
         so that it will operate with substantially similar functionality on
         computers or with operating systems that are different than those it
         was initially intended to operate. Specifically, and by way of
         example, the ITS Software-UNIX-Version is a Ported Version for the
         UNIX (AIX version) computer operating system, as described in Section
         1.7 above, and which IBM will provide to OptiMark as described in
         Section 3.4.

1.20     "WORK COMMENCEMENT DATE" means the date when IBM commenced any
         development work on behalf of OptiMark which is agreed to be on
         November 1, 1996.

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2.0      GRANT OF LICENSE/ASSIGNMENT AND GRANT BACK/PERMITTED USE

2.1      a)       Subject to the terms and conditions of this Agreement, IBM
                  grants to OptiMark a non-exclusive, worldwide, perpetual,
                  irrevocable (except to the extent monies are not paid
                  pursuant to Section 4.1) assignable license under all
                  copyright and any other intellectual property rights in, to
                  and under the ITS Software to create derivative works of the
                  ITS Software (alone or in conjunction with IBM or other third
                  parties) and to make, use, import, export, reproduce,
                  display, perform, internally distribute copies in source code
                  form, distribute source code copies (as provided in Sections
                  5.1 and 15.6), and otherwise distribute copies in object code
                  form of both the ITS Software and the derivative works of the
                  ITS Software, but only for use in conjunction with OptiMark
                  Proprietary Systems, with the right to sublicense third
                  parties to do any of the foregoing.

         b)       The OptiMark Related Companies are hereby sublicensed under
                  all of the rights granted above to OptiMark, provided that
                  OptiMark shall also be responsible for OptiMark Related
                  Companies' compliance with Article 15.0 in this Agreement.

         c)       The grant of rights and licenses to the ITS Software in
                  Section 2.1.a) above includes a nonexclusive, worldwide,
                  perpetual, irrevocable, paid-up license under any patents and
                  patent applications that are owned or licensable by IBM now
                  or in the future and are: (i) required to make, have made,
                  use and have used, import or sell the ITS Software and its
                  derivative works, including e.g. the OPS Modified Work; or
                  (ii) required to license or transfer the ITS Software or its
                  derivative works.  The license scope is to make, have made,
                  use, have used, sell, import, license or transfer software
                  and other items, and to practice and have practiced methods,
                  and sublicense, to the extent of the licenses hereof.

2.2      a)       IBM hereby irrevocably assigns, sells, transfers, grants and
                  conveys to OptiMark: all of the entire right, title and
                  interest in, to and under all copyright and other
                  intellectual property rights: (i) in and to all IBM-Made
                  Modifications created since the Work Commencement Date or
                  created in the future either pursuant to the Maintenance
                  Agreement or otherwise made by IBM on behalf of OptiMark; and
                  (ii) any resulting OPS Modified Work except for patents
                  (which are licensed to OptiMark under Section 2.1.c)); and,
                  in addition, it is understood that OptiMark is the owner of
                  the entire right, title and interest in, to and under all
                  copyright and other intellectual property rights in the
                  OptiMark-Made Modifications.  It being understood by the
                  parties that the assignment in this Section 2.2.a) does not
                  apply

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                  to the ITS Software and the ITS Application Product, which
                  are licensed rather than assigned.

         b)       If an invention or a patent would be created or granted as a
                  result of the work performed by IBM employees or its agents,
                  subcontractors or consultants, in the course of making
                  IBM-Made Modifications, IBM will consult with and pursue good
                  faith discussions with, OptiMark with a view towards granting
                  rights to OptiMark, in addition to the above patent licenses,
                  if IBM files patent applications under such inventions.

2.3      a)       Subject to the terms and conditions of this Agreement,
                  OptiMark grants to IBM a non-exclusive, worldwide, paid-up,
                  royalty-free, perpetual, irrevocable, assignable license
                  under all copyright and any other intellectual property
                  rights in the OptiMark Licensable Modification Elements for
                  all use and fields except the OptiMark Auction Process Field,
                  to create derivative works of the OptiMark Licensable
                  Modification Elements (alone or in conjunction with third
                  parties), and to make, use, import, export, reproduce,
                  display, perform, internally distribute copies in source code
                  form, distribute source code copies (as provided in Sections
                  5.2. and 15.6), and otherwise distribute copies in object
                  code form, of both the OptiMark Licensable Modification
                  Elements and derivative works of the OptiMark Licensable
                  Modification Elements, with the right to sublicense third
                  parties to do any of the foregoing.

         b)       The IBM Related Companies are hereby licensed under all of
                  the rights granted above to IBM, provided that IBM shall also
                  be responsible for IBM Related Companies' compliance with
                  Article 15.0 in this Agreement.

2.4      It is agreed between the parties that OptiMark needs no further
         agreement or license from IBM for the creation, development,
         marketing, acquisition, use, or other exploitation of any OptiMark New
         Work as set forth in Section 1.14, or permitting others to engage in
         the same activities.

2.5      OptiMark's right to use the ITS Software is limited to those rights
         expressly set out in this Agreement. IBM's right to use the OptiMark
         Licensable Modification Elements is limited to those rights expressly
         set out in this Agreement.

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3.0      DELIVERY/ PORTING BY IBM

3.1      Upon execution of this Agreement, IBM shall deliver to OptiMark one
         copy of the source code and object code forms of the ITS Software (and
         the related documentation), and all IBM-Made Modifications together
         with all versions of the OPS Modified Work held by IBM created up to
         the date of delivery (and related documentation), (collectively, the
         "Materials"). OptiMark shall take delivery of the Materials in
         Toronto, Ontario, Canada, and OptiMark shall be responsible for all
         necessary customs documentation and importing costs for importing the
         Materials into the United States of America. It is acknowledged by the
         parties that as of the Effective Date, IBM has not delivered IBM-Made
         Modifications that meet the performance goals specified in Schedule D.

3.2      Upon agreement of the parties (cf. Section 1.13), OptiMark shall
         deliver to IBM one copy of the OptiMark Licensable Modification
         Elements in source code and object code and one copy of the
         documentation relating to such OptiMark Licensable Modification
         Elements. IBM shall take delivery of such OptiMark Licensable
         Modification Elements (both software and documentation) in Jersey
         City, New Jersey or New York, New York, U.S.A. and IBM shall be
         responsible for all necessary customs documentation and importing
         costs for importing the OptiMark Licensable Modification Elements into
         Canada.

3.3      Should IBM make additional IBM-Made Modifications, pursuant to the
         Maintenance Agreement (or other agreement), the parties shall agree in
         writing as to which portions of such IBM-Made Modifications can be
         delivered to IBM and licensed for IBM's use (e.g. such as pursuant to
         Section 2.3), provided however that in no event shall any software or
         other material which contains or embodies any OptiMark Proprietary
         Elements be delivered or licensed to IBM, or be used by IBM.

3.4      IBM agrees that at no cost to OptiMark, IBM shall deliver to OptiMark
         in source and object code forms, the ITS Software-UNIX-Version (as
         described in Section 1.7) either: (i) promptly after such a Ported
         Version is developed and used by IBM for its intended purposes or made
         available by IBM to any third party for the same; or (ii) otherwise as
         IBM and OptiMark may both agree. The parties acknowledge that the ITS
         Software-UNIX-Version is licensed to OptiMark under Article 2.0 of
         this Agreement as part of ITS Software, and the Ported Versions of the
         OPS Modifications and the resulting OPS Modified Work are owned by
         and/or licensed to OptiMark under Article 2.0 of this Agreement. Any
         license fee owing for all uses of such Ported Versions, including the
         ITS Software-UNIX-Version, are determined by Schedule C as part of OPS
         Modifications and OPS Modified Work.

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4.0      PROVISIONS FOR OPTIMARK'S USE

4.1      FEES: For those uses of the ITS Software and the OPS Modified Work
         which are set forth in Schedule C, OptiMark shall pay to ISM the fees
         set forth in Schedule C, it being understood by the parties that
         OptiMark shall owe no new or additional fees for any uses of the ITS
         Software and the OPS Modified Work outside of the fees set forth in
         Schedule C (including without limitation uses of Ported Versions
         thereof).

4.2      DEVELOPMENT: Without limiting any rights and licenses granted to
         OptiMark under Article 2.0, but subject to the terms of this
         Agreement, OptiMark shall be free to further modify and develop the
         ITS Software and the OPS Modified Work and create, develop and acquire
         OptiMark New Work (e.g., to replace all or part of the OPS Modified
         Work) for on-line implementations at the First Exchange or for
         Additional Exchanges. OptiMark may perform the future development work
         either: (i) by itself; (ii) with IBM (e.g. pursuant to further
         development agreements); and/or (iii) with third parties other than
         IBM. If IBM and OptiMark agree that IBM shall perform any further
         development of the ITS Software and OPS Modified Work for the First
         Exchange or any Additional Exchanges, the terms of that development
         and fees paid for such development work shall be specified in a
         subsequent agreement, however, the fees paid to IBM for the on-line
         use of the ITS Software and OPS Modified Work at the First Exchange or
         at each Additional Exchange shall be governed by the fee schedule in
         Schedule C.

4.3      MAINTENANCE: The parties may agree that IBM shall maintain the ITS
         Software and/or the OPS Modified Work installed at the First Exchange
         or pursuant to the Maintenance Agreement or maintain the ITS Software
         and/or the OPS Modified Work installed at one or more Additional
         Exchanges pursuant to other like agreements.

4a.0     TECHNICAL REPRESENTATIVE

4a.1     Upon execution of this Agreement, each Party shall designate a person
         (the "Technical Representative") who shall be contacted at the place
         of notice, as set forth in Section 19.1 for notice of technical
         matters, and who shall review with his or her counterpart, at least
         once per month during the term of this Agreement, the technical status
         of the ITS Software and any problem, error, bug or other issue or
         concern that may arise with respect to the ITS Software.  If an issue
         is raised by one Technical Representative, it shall be addressed
         without delay, taking into account the severity of the issue and the

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         consequences to the affected party, and, where applicable, be brought
         to the attention of senior management of the appropriate Party for
         correction, in accordance with this Agreement.

4a.2     All communications of a technical nature shall be directed or copied
         to the Technical Representative of one Party by the Technical
         Representative of the other Party to ensure efficient handling of any
         issue that may arise.

5.0      OBLIGATIONS

5.1      a)       OptiMark agrees that it shall not provide the source code of
                  the ITS Software or the OPS Modified Work (or any
                  non-published documentation thereof) to any third party other
                  than: (i) the OptiMark Related Companies (sublicensed under
                  Section 2.1.b); or (ii) third party consultants, agents and
                  sublicensees, who have a need for the source code within the
                  scope of the license grant in Section 2.1 and which have
                  executed an agreement to protect and maintain such work in
                  confidence as provided for under Section 15.3.a).  OptiMark
                  may distribute the source code of such work to those of its
                  employees who need to use such source code for purposes
                  contemplated by the grant of license and rights to OptiMark
                  in this Agreement.  OptiMark agrees that it shall ensure that
                  any such software included in any OPS User Server Copies
                  shall be distributed in confidence and as a general policy in
                  object code form, and the source code for such OPS User
                  Server Copies shall be distributed only to Customers who have
                  a need within the grant to OptiMark in Sections 2.1 and 2.2
                  to review, test or modify the source code and who agree in a
                  written agreement as provided in Section 15.3.a) to protect
                  and maintain the source code in confidence.

         b)       OptiMark agrees that it shall not use, license or otherwise
                  exploit the ITS Software for any purpose not in conjunction
                  with the OptiMark Proprietary Systems.

5.2      a)       IBM agrees that it shall not provide the source code of the
                  OptiMark Licensable Modification Elements to any third party
                  other than: (i) the IBM Related Companies (sublicensed under
                  Section 2.3.b)); or (ii) third party consultants, agents and
                  sublicensees, who have a need for the source code within the
                  scope of any grant to IBM under Section 2.3 and who have
                  executed an agreement to protect and maintain OptiMark
                  Licensable Modification Elements in confidence as provided in
                  Section 15.4.a). IBM may distribute the source code of the

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                  OptiMark Licensable Modification Elements to those of its
                  employees who need to use the source code for purposes
                  contemplated by grant of license and rights to IBM in this
                  Agreement.

         b)       IBM agrees that should any part of the OptiMark Licensable
                  Modification Elements be distributed to customers or other
                  sublicensees of IBM (and for just one example, if any part of
                  the OptiMark Licensable Modification Elements be included in
                  any user server copies of IBM software), it shall be
                  distributed in confidence and as a general policy in object
                  code form and the source code for such OptiMark Licensable
                  Modification Elements shall be distributed only to those
                  customers who have a need within any grant to IBM under
                  Section 2.3 to review, test or modify the source code and who
                  agree in a written agreement as provided in Section 15.4.a)
                  to protect and maintain the source code in confidence.

5.3      IBM and OptiMark agree that:

         a)       OptiMark may distribute as provided in this Agreement the OPS
                  Modified Work with OPS User Server Copies under OptiMark's
                  company name, trademarks and copyright notices, provided
                  however that IBM's company name, trademarks and copyright
                  notice must also appear in conjunction with OptiMark's
                  notices;

         b)       IBM may distribute, as provided in this Agreement, the
                  OptiMark Licensable Modification Elements which contains any
                  ITS Software and any work that is derived by IBM therefrom,
                  under IBM's company name, trademarks and copyright notices,
                  provided however that: (i) for OptiMark Licensable
                  Modification Elements, the OptiMark company name, trademark
                  and copyright notices must appear in conjunction with IBM's
                  notices; and (ii) for IBM's derivative works, the OptiMark
                  company name and copyright notices must appear in conjunction
                  with the IBM company name and copyright notices, but only if
                  and to the extent requested by OptiMark, OptiMark's trademark
                  notice must also appear in conjunction with IBM's trademark
                  notice; and

         c)       For the purposes of verifying compliance with this Agreement:

                  (i)      Upon written inquiry, OptiMark will provide
                           reasonable information and reasonable responses to
                           IBM's inquiries concerning OptiMark's licensing,
                           sublicensing and contracting with third parties,
                           which involves third party access, use and/or
                           further development of IBM code licensed under this
                           Agreement.

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                  (ii)     Upon written inquiry, IBM will provide reasonable
                           information and reasonable responses to OptiMark's
                           inquiries concerning IBM's licensing, sublicensing
                           and contracting with third parties, which involves
                           third party access, use and further development of
                           the OptiMark Licensable Modification Elements
                           licensed under this Agreement.

5.4      a)       OptiMark is an independent contractor and is not a legal
                  representative or an agent of IBM for any purpose. OptiMark
                  shall not make any warranties, representations or create any
                  obligations on IBM's behalf to third parties and
                  documentation and software distributed by OptiMark to third
                  parties shall not include any statements, representations or
                  warranties purporting to be made by IBM.

         b)       IBM is an independent contractor and is not a legal
                  representative or an agent of OptiMark for any purpose. IBM
                  shall not make any warranties, representations or create any
                  obligations on OptiMark's behalf and documentation and
                  software distributed by IBM to third parties shall not
                  include any statements, representations or warranties
                  purporting to be made by OptiMark to third parties.

6.0      ACCESS BY CUSTOMERS

6.1      OptiMark may provide OPS User Server Copies to Customers.

7.0      INTELLECTUAL PROPERTY OWNERSHIP

7.1      a)       IBM and the IBM Related Companies are the owners of all
                  intellectual property in or to the ITS Software or practiced
                  by it in its operation (software and documentation) and
                  related written materials, logos, names and other support
                  materials which IBM has the right to provide to OptiMark
                  pursuant to the terms of this Agreement.  OptiMark
                  acknowledges that the ITS Software is proprietary to IBM and
                  the IBM Related Companies.  No title to the intellectual
                  property owned by IBM and the IBM Related Companies in the
                  ITS Software or in any magnetic media or other physical media
                  provided therewith is transferred to OptiMark by IBM under
                  this Agreement.

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                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         b)       OptiMark is the owner or licensee of all intellectual
                  property in or to the OPS Modifications, the OPS Modified
                  Work, the OptiMark Licensable Modification Elements (provided
                  under Section 3.2 of this Agreement) or practiced by them in
                  their operations.  IBM acknowledges that the OPS
                  Modifications, the OPS Modified Work, and the OptiMark
                  Licensable Modification Elements are proprietary to OptiMark,
                  in addition to and as part of the OptiMark Proprietary
                  Systems.  No title to the intellectual property in the OPS
                  Modifications, the OPS Modified Work, the OptiMark Licensable
                  Modification Elements, or the OptiMark Proprietary Systems or
                  in any magnetic media or other physical media provided
                  therewith is transferred to IBM by OptiMark under this
                  Agreement.

7.2      a)       IBM agrees not to remove or destroy or to allow the removal
                  or destruction of any proprietary markings or confidential
                  legends placed upon or contained within the OptiMark
                  Licensable Modification Elements provided under Section 3.2
                  and shall ensure that such proprietary markings or
                  confidential legends are marked on or included in all copies
                  of the OptiMark Licensable Modification Elements software and
                  documentation, and (absent further agreement) of any
                  derivative works.

         b)       OptiMark agrees not to remove or destroy or to allow the
                  removal or destruction of any proprietary markings or
                  confidential legends placed upon or contained within the ITS
                  Software provided under Section 3.1, and shall ensure that
                  such proprietary markings or confidential legends are marked
                  on and included in all copies of the ITS Software, and
                  (absent further agreement) of any derivative works.

7.3      Notwithstanding any other provision of this Agreement, IBM represents
         that if software is hereafter included by IBM in the OPS Modified Work
         or IBM-Made Modifications which is not owned by but only licensed to
         IBM, it will promptly notify OptiMark of such software and certify
         that it is a licensee of such software with the right to include such
         software in the ITS Software and/or IBM-Made Modifications and to
         grant the license and rights as set forth in this Agreement except for
         assignment of title.

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                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

8.0      IBM REPRESENTATIONS AND WARRANTIES/LIMITATION OF LIABILITY

8.1      IBM represents and warrants to OptiMark that all rights, title and
         interest, including without limitation all copyright rights and other
         intellectual property and proprietary rights in or to the ITS Software
         and IBM-Made Modifications or practiced by them in their operations,
         are (or in the case of IBM-Made Modifications, will be) owned by IBM
         and the IBM Related Companies, with IBM being fully able to provide
         the grants to OptiMark made herein.

8.2      IBM represents and warrants to OptiMark that to the best of IBM's and
         the IBM Related Companies' knowledge no third party has asserted any
         claim of ownership or of copyright or patent infringement or of
         infringement of any other intellectual property right pertaining to
         any aspect of the ITS Software or IBM-Made Modifications completed as
         of the date of signature of this Agreement and that IBM is aware of no
         such claim which could be made.

8.3      a)       IBM represents and warrants that, for a period of ninety (90)
                  days from the Launch Date or, in the case of Additional
                  Exchanges, from the day determined by the parties for each
                  Additional Exchange as the launch date for such Additional
                  Exchange (the "Warranty Period"), the ITS Software and the
                  IBM-Made Modifications, but not the OptiMark-Made
                  Modifications, in the OPS Modified Work will, if installed
                  properly (or according to IBM written specifications),
                  perform in all material respects according to the detailed
                  design documentation set forth in Schedule E.

         b)       IBM represents and warrants that for a period of ninety (90)
                  days from the launch date on a version of the Tandem
                  Operating System declared to be "Year 2000 ready" by Tandem
                  (the "Y2K-Ready Tandem Operating System"), the ITS Software
                  and the IBM-Made Modifications, but not the OptiMark-Made
                  Modifications, in the OPS Modified Work will, if installed
                  properly (or according to IBM written specifications),
                  perform in all material respects according to the detailed
                  design documentation set forth in Schedule E.

                  OptiMark and IBM, however, agree that: (i) the ITS Software
                  must be tested on the Y2K-Ready Tandem Operating System
                  without delay; (ii) OptiMark will give IBM permission to
                  begin testing as soon as practicable and no later than May
                  30, 1999; and (iii) IBM will use commercially reasonable
                  efforts to test the ITS Software on the Y2K-Ready Tandem
                  Operating System, promptly reporting the

                                       - 15 -

<PAGE>   16

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                  results or findings of their testing to OptiMark as soon as
                  practicable and no later than August 30, 1999.

         c)       The representations and warranties in a) and b) above do not
                  extend to further modifications made by a Person other than,
                  by or on behalf of IBM or an IBM representative, or to the
                  performance of such ITS Software and the IBM-Made
                  Modifications as they have been so further modified by a
                  Person other than, by or on behalf of IBM or an IBM
                  representative, acknowledging, however, that if an error or
                  defect discovered in ITS Software or IBM-Made Modifications,
                  after it has been modified by a Person other than, by or on
                  behalf of IBM or an IBM representative, can be replicated in
                  the original version of the ITS Software or IBM-Made
                  Modifications that were delivered by IBM, then the
                  representations and warranties of this Section 8.3 in a) and
                  b) above shall apply to that error or defect.

         d)       If the parties enter into a Maintenance Agreement, any
                  different terms of such Maintenance Agreement will determine
                  the extent of the warranty.

8.4      EXCEPT AS PROVIDED IN SECTIONS 8.1, 8.2, 8.3, 7.1.a), AND 7.3, IBM
         MAKES NO OTHER EXPRESS WARRANTIES IN THIS AGREEMENT, AND THERE ARE NO
         IMPLIED WARRANTIES OR CONDITIONS, INCLUDING BUT NOT LIMITED TO, THE
         IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABLE QUALITY AND FITNESS
         FOR A PARTICULAR PURPOSE.

8.5      The indemnity and other relief set forth below in Article 9.0 is the
         sole and exclusive remedy for breach by IBM of any representations or
         warranties set forth in Section 8.1. OptiMark shall have all rights
         and remedies available at law and equity for breach of the
         representations and warranties of Section 8.2. The relief set forth
         below in Article 10.0 is the sole and exclusive remedy for breach by
         IBM of the representations and warranties set forth in Section 8.3.

9.0      IBM'S PATENT, TRADE SECRET AND TRADEMARK INDEMNITY/NOTICE OF CLAIMS

9.1      Subject to Section 11.2, IBM will indemnify, defend and hold OptiMark,
         the OptiMark Related Companies, the Customers of each and the
         officers, directors, employees and agents of each (individually and
         collectively, the "OptiMark Indemnitees") harmless from and against
         any and all claims, causes of action, liabilities, damages, costs or
         expenses finally awarded or settled against them or any of them
         (including, without limitation, reasonable legal fees awarded or
         settled against them or any of them) arising out of or

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                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         resulting from any claim of infringement of a patent, of a copyright,
         of a misappropriation of a trade secret or of any other right alleged
         against the OptiMark Indemnitees and arising out of or from the use or
         exploitation of the ITS Software or the IBM-Made Modifications in the
         OPS Modified Work as permitted under this Agreement by the OptiMark
         Indemnitees, provided that, subject to the provisions set forth in
         Section 9.2, the OptiMark Indemnitees promptly notify IBM of any such
         claim and co-operate with IBM in, and allow IBM to control, the
         defense of any such claim and any related settlement negotiations.

9.2      Using counsel selected by IBM, IBM will assume, at its own cost, a
         prompt, rigorous and full defense and/or a good faith settlement
         (which seeks to maintain OptiMark's rights hereunder) of any claim of
         which IBM is responsible to indemnify under Section 9.1 and OptiMark
         will cooperate reasonably with IBM in connection therewith; except
         that with respect to settlements entered into by IBM: (a) the consent
         of OptiMark will be required if the settlement provides for equitable
         relief against any of the OptiMark Indemnitees; and (b) IBM will
         obtain a full and complete release of the OptiMark Indemnitees from
         the third party claimant(s) concerning any claim which IBM is
         responsible to indemnify under Section 9.1. IBM will keep OptiMark
         reasonably and timely apprised of the events of the defense and/or
         settlement (including without limitation the providing of copies of
         the relevant pleadings, other filings and settlement proposals) and
         IBM shall give full consideration to, and be open to discussion of,
         the views and suggestions of OptiMark (and/or its counsel as provided
         for below in Section 9.3) in proceeding with such defense and/or
         settlement.

9.3      In the defense or settlement of any claim under Section 9.1, and
         subject to Section 11.2, IBM shall promptly reimburse the OptiMark
         Indemnitees for all costs, damages, expenses, legal fees and/or other
         amounts that a court of competent jurisdiction (including without
         limitation any arbitration panel or other tribunal) finally awards
         against any OptiMark Indemnitee and to timely pay all costs, damages,
         expenses, legal fees and/or other amounts agreed to be paid in
         settlement, resulting from a claim indemnified under Section 9.1,
         provided further that IBM will permit OptiMark to participate in the
         settlement or defense of the claims through counsel chosen and paid
         for by OptiMark, and keep such counsel informed as they may request.

9.4      In addition, if any claim or cause of action referred to in Section
         9.1 is made against an OptiMark Indemnitee's use or exploitation of
         the ITS Software or the IBM-Made Modifications in the OPS Modified
         Work as permitted under this Agreement which occasions any material
         risk of an injunction against such use or exploitation, IBM will upon
         notice of the claim of infringement and at no cost to OptiMark either:
         (i) obtain a

                                       - 17 -

<PAGE>   18

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         license from the third party for the OptiMark Indemnitees to continue
         using the accused ITS Software and/or IBM-Made Modifications which
         shall come into effect no later than the earliest effective date of
         any such injunction; and/or (ii) modify the accused ITS Software
         and/or IBM-Made Modifications to avoid such infringement, and use all
         diligent efforts which are not unreasonable to complete such
         modifications before any injunction precluding the use thereof can be
         secured or come into effect, including securing the assistance of the
         IBM Related Companies in so doing.

9.5      In addition to the indemnity provided in Sections 9.1 through 9.4
         above, IBM shall promptly notify OptiMark in writing, should IBM
         receive notice of or become aware of any third party claim or
         assertion against IBM (or the IBM Related Companies) of ownership or
         of copyright or patent infringement or of infringement of any other
         intellectual property right pertaining to any aspect of the ITS
         Software or the IBM-Made Modifications or the use thereof and provide
         a copy of any such claim or assertion (if the claim or assertion is
         provided in writing) or a description thereof (if made orally) and
         upon OptiMark's request, IBM shall provide reasonable responses to
         reasonable OptiMark inquiries concerning such claims or assertions and
         any risk of injunction as perceived by IBM.

9.6      The provisions in Sections 9.1 through 9.5 represent IBM's entire
         obligation to OptiMark regarding any claim for infringement, except as
         set forth in Section 8.5.

9.7      IBM has no obligation under this Agreement regarding any infringement
         claim based on the following:

         a)       any OPS Modifications other than IBM-Made Modifications, or
                  any use of the ITS Software or the IBM-Made Modifications in
                  the OPS Modified Work which is outside the license or grants
                  of this Agreement;

         b)       the combination, operation or use of the ITS Software or
                  IBM-Made Modifications with any product, data, computer
                  equipment or software that IBM did not recommend, intend or
                  provide and which infringement claim would not have been made
                  out by the use of the ITS Software or IBM-Made Modifications
                  with any product, data, computer equipment or communication
                  software that IBM did or does recommend, intend or provide;
                  or

         c)       the combination, operation or use of the ITS Software or the
                  IBM-Made Modifications in the OPS Modified Work with any
                  other software used by OptiMark for trade processing, trade
                  matching and strategizing functions which

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<PAGE>   19

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                  IBM does not recommend, intend or provide and which
                  infringement claim would not have been made out by the use of
                  the ITS Software or the ITS Software as modified by IBM-Made
                  Modifications with software which IBM did or does recommend,
                  intend or provide.

10.0     SOFTWARE DEFECTS AND ERRORS

10.1     In the event OptiMark or IBM discovers an error or other defect in the
         ITS Software as modified by the IBM-Made Modifications in the OPS
         Modified Work, IBM's or OptiMark's Technical Representative, shall
         promptly notify the other party's Technical Representative in writing
         and provide as much detail in writing as is available to allow IBM to
         reproduce the error or defect or to demonstrate the problem and its
         foreseeable consequences to OptiMark and to allow OptiMark to make not
         unreasonable efforts to avoid expense, loss, liability or other
         damages which might otherwise result therefrom. If the ITS Software as
         modified by the IBM-Made Modifications in the OPS Modified Work is
         found to not meet the requirements of the detailed design
         documentation as set out in Schedule E within the applicable Warranty
         Period, IBM will use all reasonable efforts taking into account the
         seriousness of the error or other defect, and whether it threatens to
         interrupt use of the OPS Modified Work to promptly correct, at no cost
         to OptiMark (other than reasonable economy travel expenses to
         OptiMark's site, if necessary), programming errors in the ITS Software
         as modified by the IBM-Made Modifications in the OPS Modified Work to
         make them so perform.

         IBM will use all reasonable efforts to initially provide a work around
         or program detour and endeavor to correct the error or defect under
         Section 8.3 above and thereafter, for a program error which cannot be
         corrected by IBM, to implement a problem-avoiding restriction of the
         ITS Software or IBM-Made Modification(s) in the OPS Modified Work. All
         such work arounds, program detours, and problem-avoiding restrictions
         shall be made to preserve the functionality and performance of the
         software in question to the fullest extent possible and shall be made
         to the fullest extent possible to perform or enable the program to
         perform the same or substantially similar functions in the same or
         substantially similar manner as the IBM-Made Modifications and/or the
         ITS Software as modified by the IBM-Made Modifications. The
         expenditures made by IBM under this Section 10.1 shall not be limited
         in any way by the provisions of Section 11.1.

10.2     If IBM is unable within a time reasonable under the circumstances to
         provide the corrections to such ITS Software as modified by the
         IBM-Made Modifications as set forth in Section 10.1, OptiMark shall
         have the option of notifying IBM of OptiMark's

                                       - 19 -

<PAGE>   20

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         intent to correct the problem, providing a correction plan proceeding
         to itself make all efforts which are not unreasonable or inconsistent
         with industry practice to correct such error or defect, and to bill
         IBM net thirty (30) days upon completion for the cost to OptiMark and
         the OptiMark Related Companies of completing the correction, including
         the out-of-pocket costs for replacing the defective part of the OPS
         Modified Work; provided, however, that the amount billed to IBM for a
         correction at any implementation (either at the First Exchange or any
         Additional Exchanges) shall not exceed either: (i) for the First
         Exchange through the Fifth Additional Exchange, the license fee paid
         for the use at that exchange; or (ii) for the use at a particular
         exchange beyond the Fifth Additional Exchange, the license fee paid
         for the use at the Fifth Additional Exchange.

10.3     IBM shall not be liable for any claim to the extent that it is based
         upon and would not have occurred but for OptiMark's modifications of
         the ITS Software or OPS Modified Work or OptiMark's the use of the ITS
         Software or OPS Modified Work outside of the rights and licenses
         granted in this Agreement.

10.4     The remedies set forth in this Article 10 constitute IBM's entire
         liability for any breach of the representations and warranties set
         forth in Section 8.3 except for OptiMark's losses or damages due to
         any gross negligence or intentional misconduct on the part of IBM.

11.0     IBM'S LIMITATION OF LIABILITY

11.1     IBM's aggregate liability for direct actual damages arising out of or
         in connection with IBM's performance or non-performance under this
         Agreement, regardless of the form of action and whether in contract,
         tort (including, without limitation, negligence), warranty or other
         legal or equitable grounds, will be limited to the total amount of
         license fees contemplated under Schedule C actually paid by OptiMark
         to IBM provided that this limitation will not apply to:

         a)       damages for physical harm to persons or tangible personal
                  property and real property caused by IBM's negligence; and

         b)       all damages for which IBM is responsible under Articles 8.0,
                  9.0, 10.0 and 15.0.

11.2     In no event is IBM liable for:

         a)       any special, indirect or consequential damages (other than
                  for physical harm to persons caused by the party's
                  negligence) even if IBM has been advised of the possibility
                  thereof, including but not limited to lost profits, lost
                  business revenue,

                                     - 20 -

<PAGE>   21

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                  failure to realize expected savings or loss of, or damage to,
                  OptiMark's records or data, except for OptiMark's losses or
                  damages due to gross negligence or intentional misconduct on
                  the part of IBM; or

         b)       any claims by a third party against OptiMark or any
                  contractor to OptiMark (including, without limitation, claims
                  by a Customer) other than those claims provided for under
                  Article 9.0 or those claims involving a breach of Section 8.2
                  or Article 15.0.

11.3     This Article 11.0 applies to all claims by OptiMark, any Customers and
         any stock exchange and any contractor of OptiMark irrespective of the
         cause of action underlying the claim, including but not limited to:
         (a) breach of contract, even if in the nature of a breach of a
         condition of a fundamental term, or a fundamental breach; or (b) tort,
         including, but not limited to, negligence or negligent
         misrepresentation.

12.0     OPTIMARK WARRANTY/LIMITATION OF LIABILITY

12.1     OptiMark represents and warrants to IBM that it owns sufficient title
         and interest, including, without limitation, copyright rights and
         other intellectual property and proprietary rights, to those
         OptiMark-Made Modifications to the OPS Modified Work which are
         included in the OptiMark Licensable Modification Elements to grant the
         license set forth in Section 2.3.

12.2     OptiMark represents and warrants to IBM that to the best of OptiMark's
         and the OptiMark Related Companies' knowledge no third party has
         asserted any claim of ownership or of copyright or patent infringement
         or of infringement of any other intellectual property right pertaining
         to any aspect of the OptiMark-Made Modifications completed as of the
         date of signature of this Agreement and included in the OptiMark
         Licensable Modification Elements and that OptiMark is aware of no such
         claim which could be made.

12.3     EXCEPT AS PROVIDED IN SECTIONS 7.1.b), 12.1, AND 12.2, OPTIMARK MAKES
         NO OTHER EXPRESS WARRANTIES, AND THERE ARE NO IMPLIED WARRANTIES OR
         CONDITIONS, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OR
         CONDITIONS OF MERCHANTABLE QUALITY AND FITNESS FOR A PARTICULAR
         PURPOSE.

                                       - 21 -

<PAGE>   22

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

12.4     The indemnity and other relief set forth below in Article 13.0 is the
         sole and exclusive remedy for breach of any representation or
         warranties by OptiMark, except that IBM shall have all rights and
         remedies available at law and equity for breach of the representations
         and warranties of Section 12.2.

13.0     OPTIMARK'S PATENT, TRADE SECRET OR TRADEMARK INDEMNITY/NOTICE OF CLAIM

13.1     Subject to Section 14.2, OptiMark will indemnify, defend and hold IBM,
         the IBM Related Companies, the customers of each and the officers,
         directors, employees and agents of each (individually and
         collectively, the "IBM Indemnitees") harmless from and against any and
         all claims, causes of action, liabilities, damages, costs or expenses
         finally awarded or settled against them or any of them (including,
         without limitation, reasonable legal fees awarded or settled against
         them or any of them) arising out of or resulting from any claim of
         infringement of a patent, of a copyright, of a misappropriation of a
         trade secret, or of any other right alleged against the IBM
         Indemnitees and arising out of or from the use or exploitation of the
         OptiMark-Made Modifications of the OptiMark Licensable Modification
         Elements as permitted under this Agreement by the IBM Indemnitees,
         provided that, subject to the provisions set forth in Section 13.2,
         the IBM Indemnitees promptly notify OptiMark of any such claim and
         co-operate with OptiMark in, and allow OptiMark to control, the
         defense of any such claim and any related settlement negotiations.

13.2     Using counsel selected by OptiMark, OptiMark will assume, at its own
         cost, a prompt, rigorous and full defense and/or a good faith
         settlement (which seeks to maintain IBM's rights hereunder) of any
         claim of which OptiMark is responsible to indemnify under Section 13.1
         and IBM will cooperate reasonably with OptiMark in connection
         therewith; except that with respect to settlements entered into by
         OptiMark: (a) the consent of IBM will be required if the settlement
         provides for equitable relief against any of the IBM Indemnitees; and
         (b) OptiMark will obtain a full and complete release of the IBM
         Indemnitees from the third party claimant(s) concerning any claim
         which OptiMark is responsible to indemnify under Section 13.1.
         OptiMark will keep IBM reasonably and timely apprised of the events of
         the defense and/or settlement (including without limitation the
         providing of copies of the relevant pleadings, other filings and
         settlement proposals) and OptiMark shall give full consideration to,
         and be open to discussion of, the views and suggestions of IBM (and/or
         its counsel as provided for below in Section 13.3 in proceeding with
         such defense and/or settlement.
13.3     In the defense or settlement of any claim under Section 13.1, and
         subject to Section 14.2, OptiMark shall promptly reimburse the IBM
         Indemnitees for all costs, damages,

                                       - 22 -

<PAGE>   23

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         expenses, legal fees and/or other amounts that a court of competent
         jurisdiction (including without limitation any arbitration panel or
         other tribunal) finally awards against any IBM Indemnitee and to
         timely pay all costs, damages, expenses, legal fees and/or other
         amounts agreed to be paid in settlement resulting from a claim
         indemnified under Section 13.1, provided further that OptiMark will
         permit IBM to participate in the settlement or defense of the claims
         through counsel chosen and paid for by IBM, and keep such counsel
         informed as they may request.

13.4     In addition, if any claim or cause of action referred to in Section
         13.1 is made against an IBM Indemnitee's use or exploitation of the
         OptiMark-Made Modifications of the OptiMark Licensable Modification
         Elements as permitted under this Agreement which occasions any
         material risk of an injunction against such use or exploitation,
         OptiMark will upon notice of the claim of infringement and at no cost
         to IBM either: (i) obtain a license from the third party for the IBM
         Indemnitees to continue using the accused OptiMark-Made Modifications
         of the OptiMark Licensable Modification Elements which shall come into
         effect no later than the earliest effective date of any such
         injunction; and/or (ii) modify the accused OptiMark-Made Modifications
         of the OptiMark Licensable Modification Elements to avoid such
         infringement, and use all diligent efforts which are not unreasonable
         to complete such modifications before any injunction precluding the
         use thereof can be secured or come into effect, including securing the
         assistance of the OptiMark Related Companies in so doing.

13.5     In addition to the indemnity provided in Sections 13.1 through 13.4
         above, OptiMark shall promptly IBM in writing, should OptiMark receive
         notice of or become aware of any third party claim or assertion
         against OptiMark (or the OptiMark Related Companies) of ownership or
         of copyright or patent infringement or of infringement of any other
         intellectual property right pertaining to any aspect of the OptiMark
         Licensable Modification Elements or the use thereof and provide a copy
         of any such claim or assertion (if the claim or assertion is provided
         in writing or there is a description there of if made orally) and upon
         IBM's request, OptiMark shall provide reasonable responses to
         reasonable IBM inquiries concerning such claims or assertions and any
         risk of injunction as perceived by OptiMark.

13.6     The provisions in Sections 13.1 through 13.5 represent OptiMark's
         entire obligation to IBM regarding any claim for infringement, except
         a set forth in Section 12.4.

13.7     OptiMark has no obligation under this Agreement regarding any
         infringement claim  based on the following:

                                     - 23 -

<PAGE>   24

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         a)       any OPS Modifications other than the OptiMark-Made
                  Modifications of the OptiMark Licensable Modification
                  Elements or any use of the OptiMark-Made Modifications of the
                  OptiMark Licensable Modification Elements outside the license
                  hereof;

         b)       the combination, operation or use of the OptiMark-Made
                  Modifications of the OptiMark Licensable Modification
                  Elements with any product, data, computer equipment or
                  software that OptiMark did not recommend or provide and which
                  the infringement claim would not have been made out by the
                  use of the OptiMark-Made Modifications of the OptiMark
                  Licensable Modification Elements with any product, data,
                  computer equipment or software that OptiMark did or does
                  recommend, intend or provide; or

         c)       the combination, operation or use of the OptiMark-Made
                  Modifications of the OptiMark Licensable Modification
                  Elements with any other software used by IBM for trade
                  processing, trade matching and strategizing functions which
                  OptiMark does not recommend or provide and which the
                  infringement claim would not have been made out by the use of
                  the OptiMark-Made Modifications of the OptiMark Licensable
                  Modification Elements with software which OptiMark did or
                  does recommend, intend or provide.

14.0  OPTIMARK'S LIMITATION OF LIABILITY

14.1     OptiMark's aggregate liability for direct actual damages arising out
         of or in connection with OptiMark's performance or non-performance
         under this Agreement, regardless of the form of action and whether in
         contract, tort (including, without limitation, negligence), warranty
         or other legal or equitable grounds, shall not exceed and will be
         limited to one hundred thousand U.S. Dollars ($US 100,000), provided
         that this limitation will not apply to:

                  a)       damages for physical harm to persons or tangible
                           personal property and real property caused by
                           OptiMark's negligence; and

                  b)       all damages for which OptiMark is responsible under
                           Articles 12.0, 13.0 and 15.0.

14.2     In no event is OptiMark liable for:

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<PAGE>   25

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         a)       any special, indirect or consequential damages (other than
                  for physical harm to persons caused by OptiMark's negligence)
                  even if the party has been advised of the possibility
                  thereof, including, but not limited to, lost profits, lost
                  business revenue or failure to realize expected savings,
                  except for IBM's losses or damages due to any gross
                  negligence or intentional misconduct on the part of OptiMark;
                  or

         b)       any claims by a third party against IBM or any contractor to
                  IBM (including, without limitation, claims by a customer of
                  IBM or the IBM Related Companies), other than those claims
                  provided for under Article 13.0, or those claims involving a
                  breach of Section 12.2 or Article 15.0.

14.3     This Article 14.0 applies to all claims by IBM, any customers, any
         stock exchange and any contractor of IBM irrespective of the cause of
         action underlying the claim, including, but not limited to: (a) breach
         of contract, even if in the nature of a breach of a condition of a
         fundamental term, or a fundamental breach; or (b) tort, including, but
         not limited to, negligence or negligent misrepresentation.

15.0     CONFIDENTIAL INFORMATION

15.1     Proprietary and confidential information which is disclosed by one
         party to the other pursuant to this Agreement or created by the
         parties as part of the development concerning the OPS Modified Work
         shall be protected by, subject to and governed by the provisions of
         the Confidentiality Agreement, as supplemented by the terms and
         conditions of this Agreement, e.g. those of Articles 5.0 and 15.0.
         "Confidential Information" shall have the same meaning here as in the
         Confidentiality Agreement, provided that: (i) it is acknowledged and
         agreed that IBM-Made Modifications, OPS Modified Work and
         documentation related thereto shall be considered Confidential
         Information of OptiMark as if disclosed by OptiMark and such
         information shall be marked as OptiMark Confidential; and (ii) at
         least in the following circumstances inadvertent disclosure without
         confidentiality identification or markings by one party to the other
         party shall not destroy confidentiality, namely that for source code,
         developments for the OPS Modified Work or OptiMark Proprietary
         Elements, business development and marketing plans for the OPS
         Modified Work before their public announcement, variations of material
         already marked confidential, and such information shall not be
         publicly disclosed but rather treated as confidential information,
         without having initially been marked as such.

15.2     The parties agree that, as defined in Section 2 of the Confidentiality
         Agreement, the "Limited Use(s)" for Confidential Information subject
         to this Agreement shall include all

                                       - 25 -

<PAGE>   26

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         uses which are permitted pursuant to the licenses, grants, and
         understandings set forth in this Agreement.

15.3     IBM agrees by the execution of this Agreement that:
         a)       IBM consents, as a prior written consent under Section 3.0 of
                  the Confidentiality Agreement, that OptiMark may disclose
                  Confidential Information concerning the ITS Software, OPS
                  Modified Work or other IBM-Involved Applications (which is not
                  otherwise owned by OptiMark) (including without limitation
                  source code as permitted under Sections 5.1 and 15.6) to third
                  party consultants, agents and sublicensees who agree in
                  writing to provisions that are no less protective than the
                  provisions for the protection of Confidential Information that
                  are set forth in the Confidentiality Agreement and in the
                  other terms and conditions of this Agreement and in particular
                  those in Articles 5.0 and 15.0; and

         b)       IBM waives any prior written notice requirement, as required
                  under Section 3.0 of the Confidentiality Agreement, any
                  disclosure to the third parties consented to in Section
                  15.3.a).

15.4     OptiMark agrees by the execution of this Agreement, that:
         a)       OptiMark consents, as a prior written consent under Section
                  3.0 of the Confidentiality Agreement, that IBM may disclose
                  Confidential Information of OptiMark concerning the OptiMark
                  Licensable Modification Elements (including without
                  limitation the source code as provided under Section 5.2 and
                  Section 15.6); to third party consultants, agents and
                  sublicensees who agree in writing to provisions that are no
                  less protective than the provisions for the protection of
                  Confidential Information that are set forth in the
                  Confidentiality Agreement and in the other terms and
                  conditions of this Agreement and in particular those in
                  Articles 5.0 and 15.0; and

         b)       OptiMark waives any prior written notice requirement, as
                  required in Section 3.0 of the Confidentiality Agreement, for
                  any disclosure to the third parties consented to in Section
                  15.4.a).

15.5     Each party shall ensure that all copies of the source code owned by
         the other are kept in a secure environment.

15.6     The receiving party under this Article 15.0 may provide source code to
         a sublicensee for their use within the scope of any license grant to
         the receiving party hereunder pursuant to an agreement which provides
         for confidentiality in terms no less protective than those

                                     - 26 -

<PAGE>   27
                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         referred to or set forth in this Article 15.0. In addition and
         notwithstanding any provision of the Confidentiality Agreement or this
         Agreement, upon demand by a sublicensee, and under this Article 15.0,
         OptiMark as the receiving party, may place the source code for the ITS
         Software or OPS Modified Work (including any further modified versions
         of either and software licensed as OPS User Server Copies), and IBM as
         the receiving party, may place the source code for the OptiMark
         Licensable Modification Elements (and any modified version of it) in
         escrow pursuant to an escrow agreement (with terms to protect the
         confidentiality of the source code of the work in question that are as
         or more restrictive than those set forth or referred to herein) in
         order to permit the sublicensee to consult the source code if: (a) the
         sublicensee has executed an agreement as provided for under Section
         15.3.a) or 15.4.a); and (b) the sublicensee needs it for maintenance
         in order to continue to use the ITS Software, OPS Modified Work or
         OptiMark Licensable Modification Elements, respectively, upon the
         failure of the receiving party to provide the sublicensee with agreed
         upon support and maintenance for such code.

16.0     SOURCE CODE/MODIFICATIONS

16.1     Release of source code by one party to the other party by itself shall
         not be deemed a transfer of ownership or title to any copyright or
         other intellectual property in the source code.

17.0     TERM AND TERMINATION

17.1     This Agreement is effective from date upon which it is executed by
         both OptiMark and IBM ("the Effective Date"); and the licenses granted
         shall continue in perpetuity or for the full term permitted by law
         under the intellectual property rights.

17.2     Any termination of any provision in this Agreement shall be in
         addition to and without prejudice to such other rights and remedies as
         may be available to the terminating party including injunction and
         other equitable remedies, provided that any breach shall not cause any
         enjoinment of the licenses granted hereunder, which licenses are
         irrevocable and not terminable.

18.0     EFFECT OF TERMINATION

                                     - 27 -

<PAGE>   28

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

18.1     The licenses granted hereunder are irrevocable and shall not be
         affected by any breach or termination except that the license for each
         copy of the ITS Software within any OPS Modified Work at the First
         Exchange or at any of each Additional Exchange may be revoked upon
         failure to pay the appropriate fee set forth in Schedule C pursuant to
         Section 4.1, provided that specific written notice of said failure is
         given by IBM to OptiMark, and OptiMark fails to cure the same by
         making the payment within thirty (30) days of receipt of said notice.
         Upon any termination of this Agreement, Articles 7.0 through 14.0
         shall remain in effect for an indefinite period equal to the longest
         time permitted by law under the applicable jurisdiction.  The
         provisions in Article 15.0 for Confidential Information shall remain
         in full force and effect for the term provided for in the
         Confidentiality Agreement.

19.0     NOTICES

19.1     Any notice or other communication required or permitted to be given
         under this Agreement shall be in writing and will be sufficiently
         given if:

            a)   delivered personally;
            b)   sent by prepaid registered mail; or
            c)   transmitted by facsimile;

         IN THE CASE OF NOTICE TO IBM,

            a) CONCERNING NON-TECHNICAL MATTERS:
                 251 Consumers Rd.
                 North York, Ontario
                 M2J 4R3  CANADA

                 Attention:  IBM General Manager
                             Security Industry Services
                 Fax No:     (416) 490-5629

                 Copy to:    General Counsel
                 Fax No:     (416) 490-5722

            b) CONCERNING TECHNICAL MATTERS (E.G. UNDER SECTIONS 4a.1 AND 10.1):
                 251 Consumers Rd.
                 North York, Ontario
                 M2J 4R3  CANADA

                                       - 28 -

<PAGE>   29

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                 Attention:  IBM TECHNICAL REPRESENTATIVE
                             initially designated to be:    Brenda Hoffman
                 Fax No:     (416) 490-5629
                 Copy to:    General Counsel
                 Fax No:     (416) 490-5722

         IN THE CASE OF OPTIMARK,

            a) CONCERNING NON-TECHNICAL MATTERS:
                 10 Exchange Place, 12th Floor
                 Jersey City, New Jersey 07302 USA

                 Attention:  William F.  Adiletta,
                             Executive Vice President
                 Fax No:     (201) 946-9435

                 Copy to:    OptiMark General Counsel
                 Fax No:     (201) 946-9413

            b) CONCERNING TECHNICAL MATTERS (E.G. UNDER SECTIONS 4a.1 AND 10.1):
                 10 Exchange Place, 12th Floor
                 Jersey City, New Jersey 07302 USA

                 Attention:  OPTIMARK TECHNICAL REPRESENTATIVE
                             initially designated to be:    William F. Adiletta,
                                                            Executive Vice
                                                            President
                 Fax No:     (201) 946-9435

                 Copy to:    OptiMark General Counsel
                 Fax No:     (201) 946-9413

         Notices sent by personal delivery shall be deemed to have been given
         and received on the date of delivery. Notices transmitted by facsimile
         shall be deemed to have been given and received on transmission if a
         confirmation of successfully completed transmission is received by the
         sender. Any notice sent by prepaid registered mail shall be deemed to
         have been given and received on the seventh (7th) business day
         following mailing. The parties may change the names and addresses for
         notices under this Agreement (of technical or non-technical matters)
         by giving the other party ten (10) days advance written notice of the
         change.

                                     - 29 -

<PAGE>   30

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

20.0     ASSIGNMENT

20.1     Subject to Section 20.1.a), OptiMark may assign the licenses granted
         under Section 2.1 of this Agreement without the prior written consent
         of IBM, provided however, IBM must be notified in advance of both the
         identification of the intended assignee and the intended assignment,
         and must approve of the procedures used by OptiMark, which procedures
         must be agreed to by the intended assignee in advance, to protect the
         Confidential Information of IBM, which approval by IBM shall not be
         unreasonably withheld.

         a)       If OptiMark intends to assign the license under Section 2.1
                  to a party that is a competitor of IBM in the field of the
                  license hereof, and IBM has so notified OptiMark in writing
                  and in advance, then IBM's consent shall be required and
                  OptiMark shall give IBM no less than thirty (30) days advance
                  notice of any such assignment and IBM's consent may be
                  refused in IBM's absolute discretion.

20.2     Subject to Section 20.2.a), IBM may assign the licenses granted under
         Section 2.3 of this Agreement without the prior written consent of
         OptiMark, provided however, OptiMark must be notified in advance of
         both the identification of the intended assignee and the intended
         assignment, and must approve of the procedures used by IBM, which
         procedures must be agreed to by the intended assignee in advance, to
         protect the Confidential Information of OptiMark, which approval by
         OptiMark shall not be unreasonably withheld.

         a)       If IBM intends to assign the license under Section 2.3 to a
                  party that OptiMark has notified IBM in writing in advance to
                  be a competitor of OptiMark, then OptiMark's consent shall be
                  required and IBM shall give OptiMark no less than thirty (30)
                  days advance notice of any such assignment and OptiMark's
                  consent may be refused in OptiMark's absolute discretion.

                                       - 30 -

<PAGE>   31

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

21.0     GENERAL

21.1     Neither party shall be responsible for failure to fulfill its
         respective obligations under this Agreement caused, directly or
         indirectly, by fire, flood, earthquake, elements of nature or acts of
         God, acts of war, terrorism, riots, civil disorders, rebellions or
         revolutions, strikes, lockouts or labor difficulties or any other
         cause beyond its reasonable control, provided that the failure could
         not have been prevented by reasonable precautions and cannot be
         reasonably circumvented by the non-performing party through
         commercially reasonable means.

21.2     Section headings have been included in this Agreement merely for
         convenience of reference and shall not be considered part of or used
         in interpreting this Agreement.

21.3     If any provision, portion or extent of this Agreement is held or
         becomes invalid, illegal or unenforceable in general or with respect
         to any particular transaction, Person or jurisdiction, then, but only
         to the minimal extent necessary, that provision or portion shall be
         severed from, or that extent limited in, this Agreement in general or
         with respect to such transaction, Person, or jurisdiction only, and
         the remainder of the Agreement shall continue in full force and effect
         with respect to all other transactions, Persons or jurisdictions.

21.4     Any waiver by either party of any obligation under this Agreement must
         be in writing and shall not be considered to be a waiver of any other
         breach of the same obligation.

21.5     No action, regardless of form, may be brought by either party more
         than the lesser of: (i) two (2) years after the cause of action has
         arisen and the party having the cause of action knew or would have
         known with reasonable diligence the existence of the cause of action;
         or (ii) the maximum time period allowed under applicable laws.

21.6     This Agreement shall be binding upon and inure to the benefit of IBM's
         successors and permitted assigns and shall be binding upon and inure
         to the benefit of OptiMark's successors and permitted assigns.

21.7     This Agreement and its Schedules A through E is the complete and
         exclusive statement of agreement between the parties relating to the
         subject matter of this Agreement and supersedes all proposals, written
         or oral and all other communications between the parties relating to
         the subject matter of this Agreement and its Schedules A through E.
         There are no representations, warranties, conditions or terms made by
         either party other than as expressly stated in this Agreement.

                                       - 31 -

<PAGE>   32

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

21.8     This Agreement shall be governed by and interpreted in accordance with
         the laws of the State of New York, United States of America that are
         applicable to contracts made and wholly performed entirely within that
         State and excluding its choice of law rules, provided however that
         questions affecting the construction of any copyright or patent shall
         be determined by the law of the country in which the copyright in
         question subsists or patent in question has been granted.

21.9     The United Nations Convention on Contracts for the International Sale
         of Goods shall not apply to this Agreement.

21.10    Each party shall, upon reasonable notice and with reasonable expenses
         reimbursed by the other party, promptly and duly execute and deliver
         to the other party such further documents and assurances, and take
         such further action as the other party may from time to time request
         in order to more effectively carry out the intent and purpose of this
         Agreement and to establish and protect the rights, interests and
         remedies intended to be created in favor of the other party. For
         example, each party agrees to do what is reasonably necessary to
         perfect the grants to the other party under Article 2.0 and to
         cooperate and give all reasonable assistance (and facilitate its
         employees to do the same) to permit the other party to secure, record,
         and enforce the same, including the preparation and prosecution of any
         applications for patents, registrations of copyrights or trademarks.

21.11    Neither party shall make any public statement concerning this
         Agreement or disclose the existence of this Agreement without the
         prior written consent of the other party. The marking of software
         under Section 5.3 shall not constitute a public statement or
         announcement.

21.12    All uses under this Agreement of any IBM trademarks by OptiMark shall
         inure to the benefit of IBM. All uses of any OptiMark trademarks by
         IBM shall inure to the benefit of OptiMark. Except as expressly
         permitted in this Agreement under Section 5.3, no other uses of the
         IBM trademarks by OptiMark or the OptiMark trademarks by IBM are
         permitted.

                                     - 32 -

<PAGE>   33

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

22.0     ACCEPTANCE

22.1     The parties, by their authorized signatures below, agree that this
         Agreement is the complete agreement between the parties and replaces
         all prior communications related to the subject matter of this
         Agreement.

AGREED BY:                          AGREED BY:

IBM Canada Limited                  OptiMark Technologies, Inc.

By:      /s/ Ronald Ziola                    By:      /s/ William F. Adiletta
         ----------------                             -----------------------

Name     Ronald Ziola                        Name:    William F. Adiletta
         ------------                                 -------------------

Title:                                       Title:   Executive Vice President
         -----------------------                      ------------------------

Date:    February 2, 1999                    Date:    February 2, 1999
         ----------------                             ------------------------

AGREED BY:

ISM Information Systems
Management Corporation

By:      /s/ Brenda Hoffman
         ------------------

Name:    Brenda Hoffman
         --------------

Title:   Director
         --------

Date:    February 2, 1999
         ----------------

Attached: Schedules A-E

                                     - 33 -
<PAGE>   34
                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                                   SCHEDULE A

                 IDENTIFIED SOFTWARE COMPONENTS OF ITS SOFTWARE

         Communications
         IBADSIII - Admin
         IBADSIS  - Admin
         IBADSIP  - Admin Day End
         IBDRSIS  - Data Download

         Custom Groups
         IBCGSIS - Custom Group
         IBCGSIP - Custom Group Day-end

         General Modules
         ITERSIR - Error Logging
         ITNDSIR - Next Market Day
         ITBCSIR - Broadcast
         ITPDSIR - Previous Day
         ITSBSIR - Subscription
         ITQFSIR - Queue open
         IBAASIP - Start End of Day

         Market Control
         IBACEXC  - Application Control Exception
         IBACSIII - Application Control
         IBCASIII - Holiday Maintenance
         IBCASIS  - Holiday Maintenance
         IBPDSIII - Product Distribution
         IBPDSIP  - Product Distribution Day End
         IBPDSIS  - Product Distribution
         IBMHSIII - Market Hours and Software version
         IBTRSIII - Transaction Table
         ITPUSIS  - Parameter Update
         ITSMON   - Monitor Menu
         ITUBSIII - Event Type Table

         Order Profile & Fill processing
         IBOPSIS - Order Profile

                                      A-1

<PAGE>   35

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         IBOQSIP  - Order Queue
         IBOPSIP  - Order Profile Day-end
         IBOPSIP2 - Order Profile Day-end 2
         IBMOSIP  - Move Orders
         IBFESIP  - Fill Entry
         IBFUSIS  - Fill Update
         IBFMSIP  - Fill Monitor
         IBCLSIP  - Clearing
         IBFDSIP  - Fill Day-end
         IBSNSIP  - Sequence Number

         Matching Cycle Scheduling
         IBMSSIP - Market Status Process
         IBPCSIP - Phase Control Process
         IBCYSIP - Cycle Day End

         Security and Suspend Processing
         IBSESIS  - Security Server
         ITPESIR  - Password Encryption Routine
         IBSPSIII - Suspend Requester
         IBSPSIS  - Suspend Server
         IBSPSIP  - Suspend Process

         Static Data - Firm Related
         IBFISIII - Firm Setup Requester
         IBFISIS  - Firm Setup
         IBFISIP  - Firm Setup Dayend
         IBFCSIII - Firm Credit Authorization Requester
         IBFCSIS  - Firm Credit Authorization
         IBFCSIP  - Firm Credit Authorization Dayend

         Static Data - Market Maker
         IBMMSIII - Market Maker Requester
         IBMMSIS  - Market Maker
         IBMMSIP  - Market Maker Dayend

         Static Data - Product Related
         IBPMSIII - Product Master Requester
         IBPMSIS  - Product Master

                                      A-2

<PAGE>   36

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

         IBPMSIP  - Product Master Dayend

         Static Data - User Related
         IBURSIII - User Setup Requester
         IBURSIS  - User Setup
         IBURSIP  - User Setup Dayend

          TMAX-H
          BI               Broadcast Image
          BM               Broadcast Manager
          BRA              Broadcast Delivery Agent
          DBA              Database Delivery Agent
          DM               Delivery Manager
          ED               Event Distributor
          QD               Message Queue Distributor
          SFDM             SAF Delivery Manager
          SFTM             SAF Transaction Manager
          TAOPT            Transaction Agent
          TCOM    TMAX Process Command Interface
          TINQ             TMAX Inquiry Utility
          TM               Transaction Manager
          XLOPT            External Presentation Library
          XPGEN            External Presentation Compiler

                                      A-3

<PAGE>   37

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                                   SCHEDULE B

        PROCEDURE TO DETERMINE OPTIMARK LICENSABLE MODIFICATION ELEMENTS

The parties acknowledge that, as of the Effective Date of this Agreement, IBM
has expressed to OptiMark an interest that the following modules of the
IBM-Made Modifications be first considered as OptiMark Licensable Modification
Elements pursuant to Section 2.3 and this Schedule B (without excluding other
modules):

         IBPPSIR           OptiMark Product Price Process
         IBFBSIS           OptiMark Fill Batch
         IBOCSIII          OptiMark On-demand cycle requester
         SFDM              OptiMark SAF delivery manager
         SFTM              OptiMark SAF transaction manager
         SFDM              OptiMark Stratus SAF delivery manager
         SFTM              OptiMark Stratus SAF transaction Manager

The procedure pursuant to Section 1.13 is outlined as follows:

         IBM may request, by providing notice as set forth in Section 19.1,
         that one or more of the eligible software code module elements
         referred to in Section 1.13 be selected to be OptiMark Licensable
         Modification Elements. OptiMark will evaluate IBM's request in good
         faith and agrees not to withhold its consent for any request
         unreasonably. If and when OptiMark and IBM mutually agree, the
         selected elements shall be identified as specified in Section 1.13.

                                      B-1

<PAGE>   38

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                                   SCHEDULE C

       FEES FOR OPTIMARK'S USE OF THE ITS SOFTWARE AND OPS MODIFIED WORK

             [Attached hereto and incorporated by reference herein]

                                      C-1

<PAGE>   39
                                  CONFIDENTIAL
                          (OPTIMARK/IBM OPS AGREEMENT)

--------------------------------------------------------------------------------
FOR THE FIRST EXCHANGE
--------------------------------------------------------------------------------

If and when the OPS Modified Work is installed and on-line for the First
Exchange, OptiMark shall pay a one-time fee for all First Exchange uses in the
amount of $500,000 U.S. Dollars as follows:

              40%  in U.S. Dollars ($US 200,000) on signing; and
              60% in  U.S. Dollars ($US 300,000) on the Launch Date.

--------------------------------------------------------------------------------

II.     FOR ADDITIONAL  EXCHANGES

--------------------------------------------------------------------------------
        (1)        OptiMark and IBM agree that the license fees paid under
              Section I above, this Section II and otherwise under the
              Agreement shall in total amount to no more than $6,400,000 U.S.
              dollars (as described in this Schedule C) for all uses at the
              First Exchange and all Additional Exchanges ("AEs") , subject
              only to the percentage reduction that may apply for "Services
              Agreements" as described below.
--------------------------------------------------------------------------------
        (2)        The parties acknowledge they may enter into one or more
              "Services Agreement(s)" covering the First Exchange and/or one or
              more of the Aes. "Services Agreements" means any agreement made
              between OptiMark and IBM under which IBM provides additional
              software maintenance or development services, and would include,
              for purposes of this Schedule C, any Documents of Understanding
              (DOU's) for such services (whether or not the DOU leads to an
              actual agreement). For example and without limitation, the
              Services Agreements includes the Maintenance Agreement
              (contemplated under Section 1.1.c) of the Agreement) but would
              not include the Managed OPS Agreement (contemplated under Section
              1.1.d)).
--------------------------------------------------------------------------------
        (3)        If and when the OPS Modified Work is installed and on-line fo
              an AE, OptiMark shall pay a one-time license fee for on-line use
              at the AE, as set forth in the table below, only if it is the
              1st, 2nd, 3rd, 4th, or 5th AE using the OPS Modified Work. The
              license fees in the table below are also subject to a percentage
              reduction ("% red") based on the calendar year dollar amount of
              services provided and paid for (unless the parties otherwise
              agree) if any, under the Services Agreements. In addition to the
              above, OptiMark shall also have the option of prepaying the
              license fees for any or all of the remaining first five AEs, as
              set forth in (5) below. Each license fee in this Section II (3)
              shall be payable as follows: 50% on the first use date at the AE
              and 50% 3 months thereafter.

      (Note: "red" in table below = reduction, "CY"= calendar year, all amounts
      are in millions of US Dollars (e.g. 1 MM and $US 2.10), TOTAL includes
      First Exchange of $500,000, plus amounts payable under Section II)

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                          0 to < 1MM
                                 (or if there are no Services
US Dollar value of                        Agreements)                    E1<3MM                  E3<5MM            E55MM
Services Per CY                             0% red                       10% red                 20% red                 50% red
---------------------------------------------------------------------------------------------------------------------------------
<S>                    <C>               <C>                            <C>                     <C>                     <C>
1st AE                 $US                   2.10                         1.89                    1.68                     1.05
---------------------------------------------------------------------------------------------------------------------------------
2nd AE                 $US                    1.1                         0.99                    0.88                     0.55
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      C-1

<PAGE>   40

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

<TABLE>
---------------------------------------------------------------------------------------------------------------------------------
<S>                    <C>               <C>                            <C>                     <C>                     <C>
3rd AE                 $US                    1.0                         0.90                    0.80                     0.50
---------------------------------------------------------------------------------------------------------------------------------
4th AE                 $US                    0.9                         0.81                    0.72                     0.45
---------------------------------------------------------------------------------------------------------------------------------
5th AE                 $US                    0.8                         0.72                    0.64                     0.40
---------------------------------------------------------------------------------------------------------------------------------
6th AE +               $US                    NO                       ADDITIONAL                LICENSE                   FEE
---------------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------------
Sub Tot
(for Section II)       $US                    5.9                         5.31                    4.72                     2.95
---------------------------------------------------------------------------------------------------------------------------------
TOTAL
(Sections I + II)      $US                    6.4                         5.81                    5.22                     3.45
---------------------------------------------------------------------------------------------------------------------------------
      (4)
              Agreements in force during the applicable the calendar
              year (CY). The value of services per calendar year accumulates and
              the agreement or DOU applies for the value calculation on the
              earliest date that either a Document of Understanding (DOU) or
              applicable agreement for such new services is signed.
---------------------------------------------------------------------------------------------------------------------------------
      (5)         In any calendar year (CY), OptiMark has the option to prepay
              the one-time license fees for any or all of the remaining AEs at
              the percentage reduction (% red) corresponding to the level of
              services provided during that calendar year. Should OptiMark
              choose to prepay all of the remaining AEs in a calendar year when
              IBM is to provide a level of services having a value that entitles
              OptiMark to a percentage reductions for fees due, OptiMark will
              fulfill all fee obligations under this Agreement, although total
              fees paid will be less then $6,400,000 U.S. dollars.
---------------------------------------------------------------------------------------------------------------------------------
EXCEPT AS SET FORTH IN THIS SCHEDULE C, NO OTHER FEE OR ROYALTY SHALL BE PAID BY
OPTIMARK FOR THE LICENSES AND RIGHTS GRANTED TO OPTIMARK AS SET FORTH UNDER THE
AGREEMENT
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      C-2

<PAGE>   41

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                                   SCHEDULE D

   LIST OF REQUIREMENTS THAT DO NOT MEET THE PERFORMANCE GOALS AS OUTLINED IN
       THE OPEN ISSUES/NEW REQUIREMENTS DOCUMENT DATED OCTOBER 21, 1997,
                 OR THE OTI ALPHA PERFORMANCE OBJECTIVES MATRIX

At the Effective Date, the parties agree that the OPS Modified Work in
conjunction with the other components of the OptiMark Proprietary System does
not meet the following performance goals as outlined in the Open Issues/New
Requirements Document dated October 21, 1997, or the OTI Alpha Performance
Objectives Matrix:

         1.       All securities scheduled for a trade cycle within 90 seconds
                  - Reference Open Issues/New Requirements Document dated
                  October 21, 1997 page 20-29;

         2.       Each order profile entry has the ability of apportioning 20
                  broker dealers (increased from 10) - OPS Change Request # 12
                  Reference #ITOT4163 dated May 29, 1998;

         3.       Improve download for large amounts of data, currently
                  downloading 40 records/sec improving to 80 records/second -
                  Not formally documented; and

         4.       OPS receives and processes 215 transactions equally
                  distributed from 100 end-users - OTI Alpha Performance
                  Objectives - 8th Target dated August 24, 1998.

For further clarity, to make improvements for the above mentioned performance
goals to the OPS Modified Work will require component interface changes which,
consequently, will require changes to the components themselves to take
advantage of the OPS Modified Work improvements. The parties agree that there
is limited value in IBM performing or completing these performance improvements
without the involvement of OptiMark, because the implementation of these
performance improvements will impact other components of the OptiMark
Proprietary System. Therefore, the parties understand and agree that
cooperative effort from both parties are required to ensure maximum gain from
the performance improvements.

The parties shall make good faith efforts to agree on a cooperative
implementation plan where the OPS Modified Work performance improvements will
be completed by IBM with OptiMark input either under the Maintenance Agreement
or under a separate agreement provided that under such further agreement all
improvements contributed from IBM shall be considered IBM-Made Modifications as
defined herein and shall be subject to the rights granted as set forth herein.

                                      D-1

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                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                                   SCHEDULE E

              DETAILED DESIGN DOCUMENTATION FOR OPS MODIFIED WORK

             [Attached hereto and incorporated by reference herein]

                                       ii

<PAGE>   43

-------------------------------------------------------------------------------

                                                        Functional Requirements
                                                                 Specifications
-------------------------------------------------------------------------------

                                                              December 30, 1998
                                                                   Revision 1.1

<PAGE>   44

To order additional copies of this document, contact:

OptiMark Technologies, Inc.
10 Exchange Place, 12th Floor
Jersey City, NJ 07302

Copyright (C) 1998 OptiMark Technologies, Inc. All rights reserved. No part of
this publication may be reproduced, transmitted, transcribed, stored in a
retrieval system, or translated into any language in any form by any means
without the written permission of OptiMark Technologies, Inc.

Other third party product names used herein are used to identify such products
and for descriptive purposes only. Such names may be marks and/or registered
marks of their respective owners.

<PAGE>   45

<TABLE>
<CAPTION>
OPTIMARK TECHNOLOGIES, INC.:            FUNCTIONAL REQUIREMENTS                                               CONTENTS
                                        SPECIFICATIONS
=========================================================================================================================

        CONTENTS
<S>               <C>    <C>                                                                                             <C>
1.                       EXECUTIVE SUMMARY................................................................................1
                  1.1.   Introduction.....................................................................................1
                  1.2.   System Overview..................................................................................1
                  1.3.   Features for Participants........................................................................1
                         1.3.1.     Features for Institutions.............................................................1
                         1.3.2.     Features for Exchanges................................................................2
                         1.3.3.     Features for Broker/Dealers...........................................................3
                  1.4.   System Components................................................................................3
                         1.4.1.     Transaction Network...................................................................3
                         1.4.2.     User Interface........................................................................4
                         1.4.3.     Servers...............................................................................4
                         1.4.4.     OptiMark Profile System...............................................................4
                         1.4.5.     Matching Engine.......................................................................4
                         1.4.6.     Market Data...........................................................................5
                         1.4.7.     Pacific Exchange......................................................................6
                         1.4.8.     Clearance and Settlement..............................................................6
                  1.5.   OptiMark Information Flow........................................................................7
                  1.6.   Instruments Supported............................................................................7
                  1.7.   Relationship to Existing Systems.................................................................8
                         1.7.1.     Integration With Exchanges, Broker/Dealers and Specialists/Market Makers..............8
                         1.7.2.     Integration With the National Market System...........................................8

                  *
</TABLE>

-------------------------------

* This confidential portion has been omitted and filed separately with the
  Commission.

<PAGE>   46

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

2.       EXECUTIVE SUMMARY

                  2.1.     INTRODUCTION

                  The OptiMark System represents a new market mechanism
                  designed to optimize the process of matching buyers and
                  sellers of securities. The purpose of this document is to
                  describe the functional requirements for the OptiMark Equity
                  Trading System (OptiMark). The intent is to provide a
                  functional overview of OptiMark; what the system will, and
                  will not, do at the time of "First Trade", and establish the
                  associated functional deliverables for the OptiMark System.

                  2.2.     SYSTEM OVERVIEW

                  OptiMark provides a unique opportunity for institutions,
                  exchanges, and broker/dealers to participate in a new method
                  of electronic trading, which is designed to optimize the
                  efficiency of matching buyers and sellers.

                  The optimization is based on the relative willingness of both
                  buyers and sellers to trade over a range of prices and
                  volumes. Desirability of particular trades is expressed in
                  terms of "satisfaction" values. Based on these satisfaction
                  values, trades can occur at various prices and volumes across
                  the continuum, in a manner to produce the optimum mutual
                  satisfaction for both buyers and sellers at each stage. Once
                  trades have been matched, the results are forwarded to the
                  Institution and the executing exchange for printing to the
                  tape. Executing broker and clearing broker information
                  dissemination is controlled by the institution in order to
                  ensure the trading strategies of the participants are not
                  divulged.

                  OptiMark shall run scheduled call markets in equity
                  instruments throughout the trading day acting as a facility
                  of the Pacific Exchange (PCX). OptiMark shall comply with the
                  rules and regulations of the PCX, and shall fall under the
                  aegis of the PCX's Self-Regulatory Organization. Synergism
                  with existing systems at exchanges, institutions and
                  broker/dealers shall be maximized, allowing the benefits of
                  OptiMark to accrue with minimum changes to existing order
                  flows and systems.

                  2.3.     FEATURES FOR PARTICIPANTS

                  2.3.1.   FEATURES FOR INSTITUTIONS

                                       E - 1

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                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                  OptiMark shall provide large buy-side and sell side
                  institutions with the ability to construct "profiles" and
                  submit them directly to OptiMark under the auspices of the
                  PCX. The institution shall indicate on the Profile the
                  Designated Broker/Dealer(s) it wishes to use for the trades
                  that are executed. The broker/dealer is not notified of the
                  institution's trading strategy.

                  In contrast to discrete orders at a single price and size, a
                  Profile shall consist of a User-defined three-dimensional
                  surface, disposed over a grid of price/size coordinates, with
                  the size coordinates ranging up to the maximum quantity
                  desired. For each price/size coordinate, the institution
                  shall indicate a satisfaction level of between 0 and 1, with
                  0 representing no interest in trading at that price/size
                  coordinate, and 1 indicating complete satisfaction with that
                  price/quantity combination. Factors between 0 and 1 reflect
                  relative degrees of satisfaction with trades at that level.

                  The Profiles shall be easily entered by the institution's
                  trader or portfolio manager, via either a user-friendly
                  Graphical User Interface (GUI) or a Computer-to-Computer
                  Interface (CTCI) utilizing the FIX protocol. Within the GUI,
                  Profiles may be represented using color graphics, allowing
                  the strategy to be fully visualized. Conditions such as "fill
                  or kill", "immediate or cancel", and "all or none" shall be
                  supported.

                  Use of OptiMark is intended to provide institutions with
                  access to large pools of liquidity, and to allow them to
                  avoid the market impact, timing and opportunity costs that
                  are part of the current market structure. The Profiles shall
                  be submitted anonymously by the institution. Profiles shall
                  allow the total quantity to be quickly entered and made
                  available for electronic matching in a deep liquidity pool,
                  with non-disclosure of the trading strategy assured.
                  Executions shall occur at scheduled call times. Any part of
                  the Profile not immediately executed shall be retained in the
                  system, subject to time-in-force and other conditions, for
                  matching against newly entered Profiles. The Profiles shall
                  be confidential, and shall be easily and quickly modified or
                  canceled by the owner intraday.

                  OptiMark shall be capable of running throughout the trading
                  day, providing price discovery across a continuum of prices
                  and quantities, matching buyers and sellers at each
                  combination of price and quantity, to result in optimal
                  mutual satisfaction.

                  Executions shall be immediately reported to the institutions,
                  and to the exchange for printing on the Consolidated Tape
                  System (CTS) and for end-of-day submission to NSCC.
                  Executions shall be reported to the specified broker/dealer
                  for clearing and settlement, but may, at the discretion of
                  the institution, be held until after the close of trading so
                  that the outcomes of the trading strategy are not divulged.

                  2.3.2.   FEATURES FOR EXCHANGES

                  With the advent of "upstairs" block trading, large pools of
                  liquidity typically are not available on exchange floors.
                  This severely hampers the ability of exchanges to perform
                  their role of efficiently matching buyers and sellers. With
                  OptiMark, the exchanges have

                                       E - 2

<PAGE>   48

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                  an opportunity to bring these liquidity pools back into their
                  domain, allowing the exchange to better service the full
                  range of investors, from retail to institutional size.

                  OptiMark shall run as a matching facility for PCX. PCX's
                  rules and regulations shall apply fully to OptiMark. The
                  exchange shall print trades from OptiMark, and forward them
                  as locked-in trades to NSCC. The rules regarding the National
                  Market System shall be respected.

                  Retail orders may be forwarded to OptiMark by the exchange
                  Specialists, at their discretion. In addition, specialists
                  will be able to submit Profiles for their own account.

                  2.3.3.   FEATURES FOR BROKER/DEALERS

                  Broker/Dealers shall remain responsible for the trades that
                  are executed in their name by institutions, and therefore
                  shall continue to earn commissions. Clearing Brokers shall be
                  able to exercise control over their exposure by setting and
                  maintaining trading limits for the institutions they
                  authorize for direct trading through OptiMark. These limits
                  shall be monitored, and the remaining trading limit
                  automatically updated, for every Profile entered directly by
                  the institution.

                  The Designated Broker/Dealers shall receive execution reports
                  from the OptiMark system (albeit without divulging the
                  institution's trading strategy) and shall handle allocations,
                  clearing, and settlement for the institution in the usual
                  manner.

                  The broker/dealer may take advantage of the increased
                  liquidity pools available through OptiMark by submitting
                  their proprietary trading interest as Profiles, and/or by
                  formulating Profiles for their retail or institutional
                  clients.

                  2.4.     SYSTEM COMPONENTS

                  The system is comprised of eight major components: (1) the
                  Transaction Network, (2) the User Interface, (3) the Servers,
                  (4) the OptiMark Profile System, (5) the Matching Process,
                  (6) Market Data, (7) the Pacific Exchange Interface, and (8)
                  Clearance and Settlement. There are additional components of
                  the system such as Audit and Attestation, Security, Help
                  Desk, and Performance, which are also addressed within this
                  document. The following section provides an overview of the
                  components that will make up the OptiMark system:

                  2.4.1.   TRANSACTION NETWORK

                  The Transaction Network is the communications infrastructure
                  upon which the OptiMark system is built. This component
                  encompasses the system infrastructure and dictates the
                  hardware platforms that will be utilized and supported,
                  communication protocols to and

                                     E - 3

<PAGE>   49

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                  from the system, access security and encryption, error
                  recovery, system reliability and backup.

                  2.4.2.   USER INTERFACE

                  The User Interface (UI) component defines how participants
                  interact with the system. This component defines the methods
                  that will be used to create Profiles, act upon those Profiles
                  (save, modify, send, and cancel), and receive information
                  about those Profiles. Broadcast of administrative messages
                  from OptiMark's central site is also supported.

                  Additionally, the specification will define in detail the
                  three methods that will be utilized to send and receive
                  Profiles; the Graphical User Interface (GUI), the
                  Computer-to-Computer Interface (CTCI), and the submission of
                  Specialists' Order Books from the PCX. Finally, the
                  validation being performed at the UI level is described in
                  detail.

                  2.4.3.   SERVERS

                  An institutional server will be provided to the major
                  OptiMark trading participants. The server will be behind the
                  customer's firewall, providing local storage for the
                  institution's data to enhance processing speed and
                  efficiency.

                  2.4.4.   OPTIMARK PROFILE SYSTEM

                  The OptiMark Profile System (OPS) is the component that
                  maintains all information critical to the OptiMark trading
                  system. OPS maintains the list of eligible securities in
                  OptiMark, the schedule of call cycles for each security, the
                  OptiMark Book of Record, logs of the actions taken on
                  Profiles, determines available trading limit for participants
                  and updates trading limit usage throughout the trading day,
                  routes trade result information, generates clearing records,
                  and monitors the other system connections.

                  In addition, OPS is responsible for receiving Profiles from
                  participants, validating the information received, forwarding
                  this data to the Matching Engine, and sending the resulting
                  information to participants and the PCX.

                  2.4.5.   MATCHING ENGINE

                  The Matching Engine (ME) is the heart of the OptiMark trading
                  system. Using OptiMark Technologies, Inc. patent-pending
                  matching algorithm, this component receives Profiles from
                  participants and participating exchange specialists wishing
                  to buy or sell securities, as well as the current bids and
                  offers of all exchanges. The quotations from
                  non-participating exchanges are converted into Profiles,
                  which are included in the cycle. The ME then determines trade
                  matches based upon the mutual satisfaction, price, time of
                  entry, and size of the buyer-seller coordinate pairs. Trade
                  results are then generated that

                                     E - 4

<PAGE>   50

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                  will ensure no other exchange markets are traded through and
                  meet the optimal trading criteria specified on the
                  participants' Profiles.

                  The ME will run throughout the trading day, initiating call
                  cycles according to the schedule maintained by OPS.

                  2.4.6.   MARKET DATA

                  This component is used to determine the market for a security
                  at the time a cycle is initiated. This includes not only the
                  primary market, but the regional markets as well. These
                  markets will be forwarded to the ME in order to develop 'CQS
                  Profiles'. These Profiles are critical to ensure the OptiMark
                  system does not trade through other markets and abides by
                  existing market rules and regulations.

                  Additionally, the Market Data component will help to
                  determine when a security is open for trading, when a
                  security has been halted, and when trading has been resumed
                  for a halted security. This information, combined with
                  information from the Pacific Exchange, will be used to
                  determine when OptiMark shall open or halt trading for a
                  security.

                                     E - 5

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                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                  2.4.7.    PACIFIC EXCHANGE

                  The Pacific Exchange (PCX) will be the first exchange to
                  utilize the OptiMark system. The PCX is key to the
                  functionality of the system since they will print the trades
                  on the tape, notify Broker/Dealers of executions, and forward
                  clearing information to start the clearance and settlement
                  process.

                  The PCX specialists shall have the option to forward their
                  Limit Order Books to OptiMark. The PCX shall receive trade
                  results from OPS for the specialists' Limit Order Books and
                  update the P/Coast system with this information as required.

                  The PCX shall be responsible for printing the resulting
                  trades on the Consolidated Tape System (CTS), forwarding
                  Intermarket Trading System (ITS) commitments to the
                  appropriate exchange and processing their responses,
                  providing Broker/Dealers with Execution Reports as required,
                  and forwarding OptiMark Clearing Records to the appropriate
                  Broker/Dealers and National Securities Clearing Corporation
                  (NSCC) for clearing purposes.

                  2.4.8.   CLEARANCE AND SETTLEMENT

                  While OptiMark is not a registered broker dealer, the
                  OptiMark system shall operate under the existing clearing and
                  settlement procedures; simply put, OptiMark trades shall be
                  cleared and settled within three days of the trade.

                  Since OptiMark intends to comply with the existing rules and
                  regulations, this component is dedicated to ensuring the
                  proper information required for clearance and settlement is
                  provided to the PCX, the NSCC, the Institutions, and the
                  Broker/Dealers in the appropriate time frames.

                                     E - 6

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                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                  2.5.      OPTIMARK INFORMATION FLOW

                  Profiles shall be entered by institutions, broker/dealers, or
                  exchange Specialists, and shall be created using the OptiMark
                  Graphical User Interface (GUI), a Computer-to-Computer
                  Interface (CTCI) that complies with the FIX protocol, or the
                  PCX Interface. Using the OptiMark GUI, the trader shall be
                  able to draw satisfaction contour lines on a two dimensional
                  (price/size) grid, or use Profile templates whereby the
                  computer creates the corresponding Profile based on
                  pre-defined parameters. The Profiles shall include the order
                  type (buy, sell), the order sub-type (time-in-force and other
                  special instructions), and total quantity desired.

                  OptiMark shall leverage connections to the order routing
                  systems of the PCX. This connection shall allow retail orders
                  managed by Specialists the opportunity to trade with larger
                  buyers and sellers, at the Specialist's discretion. Standard
                  orders are easily converted into Profiles, allowing entry
                  into the OptiMark System.

                  The OptiMark system will read Consolidated Quotation System
                  (CQS) to determine quotes at all exchanges, and will send
                  commitments to trade over the Intermarket Trading System
                  (ITS), via PCX, as required. OptiMark records all trades,
                  updates the Profile records, and notifies the buyers,
                  sellers, and participating exchanges of all trades executed.
                  Trade reports are sent to the PCX for reporting to the
                  Consolidated Tape System (CTS).

                  The records required for clearance and settlement of OptiMark
                  trades will be generated by the OptiMark system and sent to
                  the PCX. The PCX will forward these records to the Designated
                  Broker/Dealers and to the NSCC. The actual clearance and
                  settlement process will continue to operate as today,
                  external to the OptiMark system.

                  2.6.     INSTRUMENTS SUPPORTED

                  Phase 1 of OptiMark shall support trading in US listed
                  equities at the Pacific Exchange (PCX).

                  The OptiMark System ultimately shall support several types of
                  instruments and trading strategies, including options, debt
                  instruments, futures, and currencies. The support for
                  additional instrument types and strategies is not included in
                  this Functional Requirements Specification.

                                     E - 7

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                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                  2.7.      RELATIONSHIP TO EXISTING SYSTEMS

                  2.7.1.   INTEGRATION WITH EXCHANGES, BROKER/DEALERS AND

                  SPECIALISTS/MARKET MAKERS
                  The OptiMark system is not an exchange. Rather, it is a
                  matching system, acting as a facility to an exchange that
                  will facilitate the interaction of buyers and sellers of all
                  types and sizes, from retail to institutional. OptiMark shall
                  support the inclusion of specialist/market maker orders for
                  their own positions (principal), as well as the electronic
                  book orders (agency) that the specialist/market maker routes
                  to the OptiMark system for trading. All Profiles flowing into
                  the OptiMark system shall be associated with an exchange and
                  shall have one or more Broker/Dealers that are members of the
                  exchange associated with them, for purposes of Trading Limit
                  approval, clearance and settlement. The association of an
                  assigned Broker/Dealer and exchange shall be enforced at the
                  client end, where the end User MUST specify the Broker/Dealer
                  and exchange routing as part of the Profile order entry.

                  2.7.2.   INTEGRATION WITH THE NATIONAL MARKET SYSTEM

                  The Intermarket Trading System (ITS) was implemented as a
                  means to address the requirement established in the
                  Securities Exchange Act of 1975 for a National Market System.
                  Listed equity securities traded on more than one exchange
                  must have a published best quotation (bid/ask price and
                  quantity) distributed via CQS. If a print on one exchange
                  will trade through a quotation on another exchange, the
                  specialist must send an ITS commitment to trade at the print
                  price for the size shown in that quotation.

                  The OptiMark system shall comply with ITS trading rules.
                  Therefore, OptiMark shall monitor market data for the trades
                  and quotations of all exchanges listing securities traded on
                  the PCX. This market data shall be used to determine if a
                  quote could be obtained from exchange(s) outside OptiMark. If
                  a quote is available from an outside exchange, the OptiMark
                  system shall direct the Pacific Exchange to submit a
                  commitment via ITS through its Regional Computing Interface
                  to the exchange(s). In this case, OptiMark will generate a
                  pending fill(s), based on the commitment submitted to the
                  exchange(s), which will become Fill(s) when a confirmation is
                  received.

                  The OptiMark system shall not receive ITS commitments
                  directly from other exchanges. However, at their discretion,
                  specialists may represent some or all of the size of arriving
                  ITS commitments in OptiMark by entering Profiles from their
                  OptiMark GUI application.

*  [Remainder of Schedule E pages 8-129]

---------------------------------
* This confidential portion has been omitted and filed separately with the
Commission.

                                     E - 8

<PAGE>   54

                                  CONFIDENTIAL

                          (OPTIMARK/IBM OPS AGREEMENT)

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
<S>      <C>                                                                                                            <C>
1.0      Definitions.....................................................................................................2
         1.1      Agreements.............................................................................................2
                  a)       "Agreement"...................................................................................2
                  b)       "Confidentiality Agreement"...................................................................2
                  c)       "Maintenance Agreement".......................................................................2
                  d)       "Managed OPS Agreement".......................................................................2
                  e)       "TMAX Agreement"..............................................................................2
         1.2      "Customers"............................................................................................2
         1.3      "IBM-Involved Applications"............................................................................2
         1.4      "IBM Related Company(ies)".............................................................................2
         1.5      Implementations........................................................................................3
                  a)       "First Exchange" or "Pacific Exchange"........................................................3
                  b)       "Additional Exchange(s)"......................................................................3
         1.6      "ITS Application Product"..............................................................................3
         1.7      "ITS Software".........................................................................................3
                           "ITS Software-Unix-Version"...................................................................3
         1.8      "Launch Date"..........................................................................................4
         1.9      "OPS Modification(s)" .................................................................................4
                  a)       "IBM-Made Modifications"......................................................................4
                  b)       "OptiMark-Made Modifications".................................................................4
         1.10     "OPS Modified Work"....................................................................................4
         1.11     "OPS User Server Copy(ies)"............................................................................4
         1.12     "OptiMark Auction Process Field".......................................................................4
         1.13     "OptiMark Licensable Modification Elements" ...........................................................5
         1.14     "OptiMark New Work"....................................................................................5
         1.15     "OptiMark Proprietary Element(s)"......................................................................5
         1.16     "OptiMark Proprietary System(s)".......................................................................5
         1.17     "OptiMark Related Company(ies)"........................................................................6
         1.18     "Person(s)"............................................................................................6
         1.19     "Ported Version".......................................................................................6
         1.20     "Work Commencement Date"...............................................................................6
2.0      Grant of License/Assignment and Grant Back/Permitted Use........................................................6
3.0      Delivery........................................................................................................8
4.0      Provisions for OptiMark's Use...................................................................................9
         4.1      Fees...................................................................................................9
         4.2      Development............................................................................................9
         4.3      Maintenance...........................................................................................10
4a.0     Technical Representative.......................................................................................10
5.0      Obligations....................................................................................................10
</TABLE>

                                       1

<PAGE>   55

<TABLE>
<S>      <C>                                                                                                            <C>
6.0      Access by Customers............................................................................................12
7.0      Intellectual Property Ownership ...............................................................................13
8.0      IBM Representations and Warranties/Limitation of Liability.....................................................14
9.0      IBM's Patent, Trade Secret and Trademark Indemnity/Notice of Claims............................................15
10.0     Software Defects and Errors....................................................................................18
11.0     IBM's Limitation of Liability..................................................................................19
12.0     OptiMark Warranty/Limitation of Liability......................................................................20
13.0     OptiMark's Patent, Trade Secret or Trademark Indemnity/Notice of Claim.........................................21
14.0     OptiMark's Limitation of Liability.............................................................................23
15.0     Confidential Information.......................................................................................24
16.0     Source code/Modifications......................................................................................26
17.0     Term and Termination...........................................................................................26
18.0     Effect of Termination..........................................................................................26
19.0     Notices........................................................................................................27
20.0     Assignment.....................................................................................................28
21.0     General........................................................................................................29
22.0     Acceptance.....................................................................................................32

SCHEDULE A - Identified Software Components of ITS Software............................................................A-1
SCHEDULE B - Procedure to Determine OptiMark Licensable Modification Elements..........................................B-1
SCHEDULE C - Fees for OptiMark's Use of the ITS Software and OPS Modified Work.........................................C-1
SCHEDULE D - List of Requirements That Do Not Meet the Performance Goals as Outlined
in the Open Issues/New Requirements Document Dated October 21, 1997, or the OTI Alpha
Performance Objectives Matrix..........................................................................................D-1
SCHEDULE E  - Detailed Design Documentation for OPS Modified Work......................................................E-1
</TABLE>

                                       2<PAGE>   1

                                                                   EXHIBIT 10.20

                           OPTIMARK TECHNOLOGIES INC.

                  AGREEMENT FOR INFORMATION TECHNOLOGY SERVICES

               This Information Technology Services Agreement ("Agreement"),
dated as of May 6, 1999, is by and between OptiMark Technologies Inc., a
corporation having a place of business at 10 Exchange Place, 12th floor, Jersey
City, New Jersey, USA 07302 ("OTI"), and IBM Canada Limited, having its
headquarters at 3600 Steeles Avenue East, Markham, Ontario L3R 9Z7 ("IBM"). OTI
and IBM agree that the following terms and conditions will apply to services
provided by IBM under this Agreement. OTI and IBM may be referred to
individually as a "Party" and collectively as the "Parties".

* This confidential portion has been omitted and filed separately with the
Commission.

<PAGE>   2
                                Table of Contents
<TABLE>
<S>     <C>                                                                               <C>
1.0     Background and Objectives...........................................................1

2.0     Definitions, Documents and Term.....................................................1
        2.1    General Definitions..........................................................1
        2.2    Associated Contract Documents................................................4
        2.3    Term.........................................................................4
        2.4    Renewal and Expiration.......................................................4

3.0     Overview............................................................................4
        3.1    Start-up of Services.........................................................4
        3.2    Contracts....................................................................5
        3.3    Software.....................................................................5
        3.4    Required Consents............................................................5
        3.5    Other Obligations............................................................5
        3.6    Software Currency............................................................5

4.0     IBM Responsibilities................................................................6
        4.1    IBM Personnel................................................................6
        4.2    Standards....................................................................7
        4.3    Efficient Use of Resources...................................................7
        4.4    Technological Advancements...................................................8
        4.5    Management and Control.......................................................8
        4.6    Machines.....................................................................9
        4.7    Software Services...........................................................10
        4.8    Operations, Support and Maintenance.........................................10
        4.9    Consolidation and Relocation Services.......................................11
        4.10   Systems Management..........................................................11
        4.11   Disaster Recovery...........................................................11
        4.12   Production Services.........................................................11
        4.13   Help Desk/Customer Support Centre...........................................12
        4.14   Audits......................................................................12
        4.15   Access to IBM Data Center...................................................13

5.0     OTI Responsibilities...............................................................13
        5.1    Project Executive...........................................................13
        5.2    Applications Software.......................................................13
        5.3    Support Services............................................................13
        5.4    Other Responsibilities......................................................13
        5.5    Approvals and Notification..................................................14
        5.6    OTI's Failure to Perform OTI Responsibilities...............................14

6.0     Charges and Expenses...............................................................15
        6.1    Monthly Services Charge.....................................................15
        6.2    New Entities................................................................15
</TABLE>

                                       (i)
<PAGE>   3

<TABLE>
<S>     <C>                                                                               <C>
        6.3    New Services................................................................15
        6.4    Taxes.......................................................................16
        6.5    Extraordinary Reduction of OTI Work.........................................16
        6.6    Services Transfer Assistance................................................17
        6.7    Other Expenses and Charges..................................................19
        6.8    Option to Purchase or Lease.................................................19

7.0     Invoicing and Payment..............................................................19
        7.1    Monthly Services Charge Invoices............................................19
        7.2    Other Charges...............................................................19
        7.3    Invoice Payment.............................................................19
        7.4    Proration...................................................................20
        7.5    Other Credits...............................................................20

8.0     Intellectual Property Rights.......................................................20
        8.1    Intellectual Property Definitions...........................................20
        8.2    IBM Developed Materials.....................................................21
        8.3    OTI Developed Materials.....................................................22
        8.4    General Rights..............................................................22

9.0     Confidentiality....................................................................23

10.0    Termination........................................................................23
        10.1   Termination for Convenience.................................................23
        10.2   Termination for Cause.......................................................24
        10.3   Termination for OTI's failure to pay........................................24
        10.4   Termination for Act of Insolvency...........................................25
        10.5   Extension of Services.......................................................25
        10.6   Other Rights Upon Termination or Expiration.................................26

11.0    Liability..........................................................................26
        11.1   General Intent..............................................................26
        11.2   Damages.....................................................................27
        11.3   Loss of Data................................................................28

12.0    Warranty...........................................................................28
        12.1   Representations and Warranties..............................................28
        12.2   Compliance with Obligations.................................................28
        12.3   Year 2000...................................................................28
        12.4   Disclaimers.................................................................30
        12.5   Authorization and Enforceability............................................30
        12.6   Regulatory and Corporate Proceedings........................................31

13.0    Indemnities........................................................................31
        13.1   Indemnity by IBM............................................................31
        13.2   Indemnity by OTI............................................................31
        13.3   Cross Indemnity and Contribution............................................32
</TABLE>

                                      (ii)
<PAGE>   4

<TABLE>
<S>     <C>                                                                               <C>
        13.4   Indemnification Procedures..................................................33
        13.5   Subrogation.................................................................34
        13.6   Exclusive Remedy............................................................34

14.0    Insurance and Risk of Loss.........................................................34
        14.1   Insurance...................................................................34
        14.2   Risk of Loss................................................................34

15.0    Publicity..........................................................................34

16.0    Review Committees/Dispute Resolution...............................................35
        16.1   Joint Advisory Committee....................................................35
        16.2   Dispute Resolution..........................................................35
        16.3   Continued Performance.......................................................37

17.0    General............................................................................37
        17.1   Control of Services.........................................................37
        17.2   Right to Perform Services for Others........................................37
        17.3   Geographic Scope of Services and Currency...................................38
        17.4   Amendments and Revisions....................................................38
        17.5   Force Majeure...............................................................38
        17.6   Nonperformance..............................................................39
        17.7   Remarketing.................................................................39
        17.8   Waiver......................................................................39
        17.9   Severability................................................................40
        17.10  Limitations Period..........................................................40
        17.11  Counterparts................................................................40
        17.12  Governing Law...............................................................40
        17.13  Survival, Binding Nature and Assignment.....................................40
        17.14  Notices.....................................................................41
        17.15  No Third-Party Beneficiaries................................................42
        17.16  Other Documents.............................................................42
        17.17  Headings....................................................................42
</TABLE>

                                      (iii)

<PAGE>   5

                                      Table of Schedules

<TABLE>
<CAPTION>
Schedule                            Title
--------                            -----
<S>                          <C>
    A                        Applications Software
    B                        Systems Software
    C                        OTI Machines
    D                        Services Machines
    E                        Support Services and Service Levels
    F                        Contracts
    G                        Reserved
    H                        Reserved
    I                        Lan
    J                        IBM Charges, Measures of Utilization and Financial
                             Responsibilities
    K                        Operating Environment Standards
    L                        Security
    M                        Help Desk
</TABLE>

                                      (iv)
<PAGE>   6

1.0     BACKGROUND AND OBJECTIVES

               OTI desires that certain OTI information systems activities and
responsibilities be performed and managed by IBM.

               After careful evaluation of IBM's proposals and other
alternatives, OTI agrees to purchase from IBM the Services during the Term. This
Agreement documents the terms and conditions under which OTI agrees to purchase
and IBM agrees to provide such Services.

2.0     DEFINITIONS, DOCUMENTS AND TERM

        2.1    General Definitions

               As used in this Agreement:

               a. "Act of Insolvency" with respect to a Party means, (i) a
                  general assignment for the benefit of creditors; (ii) any
                  proceeding instituted by the Party seeking general relief as
                  debtor, or to adjudicate it a bankrupt or insolvent, or
                  seeking liquidation, winding-up, reorganization, arrangement
                  or composition of it or its debts or for an order for similar
                  relief under any law relating to bankruptcy, insolvency or
                  relief of debtors or seeking appointment of a receiver,
                  trustee or other similar official for the Party or for any
                  substantial part of its assets; (iii) any proceedings are
                  instituted against the Party seeking to adjudicate it a
                  bankrupt or insolvent, or seeking liquidation, winding-up,
                  reorganization, arrangement or composition of it or its debts
                  or an order for similar relief under any law relating to
                  bankruptcy, insolvency or relief of debtors or seeking
                  appointment of a receiver, trustee or other similar official
                  for the Party or for any substantial part of its assets unless
                  the proceeding is being contested actively and diligently in
                  good faith by appropriate and timely legal proceedings and is
                  dismissed, vacated or stayed within 30 days of institution,
                  which 30 days shall be extended to 90 days where the Party
                  demonstrates to the reasonable satisfaction of the other Party
                  that it is contesting such appointment in good faith; (iv) the
                  appointment of a receiver, receiver and manager or other
                  similar official with respect to any of the assets of a Party
                  by a court or creditor if such appointment is not terminated
                  within 30 days; (v) becomes bankrupt or insolvent within the
                  meaning set out in the Bankruptcy and Insolvency Act (Canada)
                  or equivalent applicable legislation; (vi) is subject to any
                  distress or execution levied on its rights under this
                  Agreement; or (vii) ceases or threatens to cease to carry on
                  business.

               b. "Affiliate" means, with respect to a Party, any entity

                      1.     a majority of whose voting shares or securities
                             are; or

                      2.     which does not have voting shares or securities,
                             but a majority of the ownership interest
                             representing the right to make decisions for such
                             entity is;
<PAGE>   7

                  now or hereafter, owned or controlled, directly or indirectly
                  by that Party, but such entity shall be deemed to be an
                  Affiliate only so long as such ownership or control exists.

               c. "Applications Software" means those programs and programming,
                  including all supporting documentation and media, that perform
                  specific OTI related data processing and telecommunication
                  tasks.

               d. "Assumption Date" means the date, to be agreed by the Parties,
                  as of which IBM assumes administrative responsibility for
                  Contracts.

               e. "Commencement Date" means December 1, 1997.

               f. "Confidential Information" has the meaning set out in the
                  Confidentiality Agreement.

               g. "Confidentiality Agreement" means the agreement between the
                  Parties for the exchange of confidential information dated as
                  of May 29, 1998.

               h. "Contracts" means those written contractual arrangements under
                  which OTI received third-party services prior to the
                  Assumption Date for which IBM has undertaken administrative
                  responsibility, to the extent indicated in Schedule E, as of
                  the Assumption Date. Contracts are listed in Schedule F.

               i. "Control" means the legal, beneficial or equitable ownership,
                  directly or indirectly, of more than 50 percent of the
                  aggregate of all voting equity interests in such entity.

               j. "End Users" means the representatives of OTI at the OptiMark
                  Information Center, as described in Schedules E and M.

               k. "Holidays" means any day on which OTI does not require the
                  Services in order to deliver services to OTI's customers. OTI
                  will provide IBM with a list of such days from time to time.

               l. "IBM Data Center" means the Machines and Software to be
                  located at 245 Consumers Road, Toronto, Ontario, as of the
                  Commencement Date and/or at such other locations as IBM may
                  establish thereafter.

               m. "Lan or Local Area Network" means the physical infrastructure
                  that interconnects the communications components listed in
                  Schedule I, within the IBM Data Center.

               n. "Leases" means written contractual arrangements under which
                  OTI received the right to use OTI Machines.

               o. "Licenses" means those written contractual arrangements under
                  which OTI received the right to use, and the maintenance for,
                  Software.

                                        2

<PAGE>   8

               p. "Losses" means all losses, liabilities, damages and claims
                  (including taxes), causes of action, and all related costs and
                  expenses (including any and all reasonable legal fees and
                  reasonable costs of investigation, litigation, settlement,
                  judgment, interest and penalties).

               q. "Machines" means both OTI Machines and Services Machines.

               r. "Monthly Services Charge" means the charge to OTI for IBM's
                  provision of the Services as set forth in Schedule J.

               s. "OptiMark Proprietary Element(s)" means those computer
                  software elements in code and design that relate to any
                  proprietary aspect of the OptiMark Proprietary Trading
                  Systems, including without limitation, any element relating to
                  satisfaction density or other trading profiles or message
                  elements related to such satisfaction density or other trading
                  profiles.

               t. "OptiMark Proprietary Trading Systems" means systems that OTI
                  develops to implement its proprietary technology for trading
                  securities in the OptiMark Securities Trading Field.

               u. "OptiMark Securities Trading Field" means the field of
                  financial services relating to the trading of securities by
                  the matching of trading orders using satisfaction density
                  profiles and the like.

               v. "OTI Machines" means Machines within the Data Center and Lan
                  that are owned, leased or rented and retained by OTI after the
                  Commencement Date and that are used by IBM so that IBM may
                  provide the Services. OTI Machines are listed in Schedule C.

               w. "Non-prime Time" means the hours from 5:00 p.m. to 8:00 a.m.
                  local time where the IBM Data Center is located, Monday
                  through Friday, and from Friday at 5:00 p.m. through Monday at
                  8:00 a.m., including Holidays.

               x. "Prime Time" means the hours from 8:00 a.m. to 5:00 p.m. local
                  time where the IBM Data Center is located, Monday through
                  Friday, including Holidays.

               y. "Required Consents" means any consents or approvals required
                  for the licensing or transfer of the right to use applicable
                  Leases, Licenses, Contracts or third-party services or
                  products to IBM, which IBM may need in the provision of
                  Services.

               z. "Service Levels" means the service delivery criteria for the
                  specified Services, to be agreed to by OTI and IBM during the
                  Measurement Period, and included in Schedule E.

              aa. "Services" means those services and functions which IBM
                  agrees to provide to OTI pursuant to this Agreement.

                                        3

<PAGE>   9

              bb. "Services Machines" means Machines within the IBM Data Center
                  and Lan which are either provided or used by IBM on or after
                  the Commencement Date in order to meet its obligations under
                  this Agreement.

              cc. "Software" means both Applications Software and Systems
                  Software.

              dd. "Systems Software" means those programs and programming,
                  including all supporting documentation and media, that perform
                  tasks basic to the functioning of the data processing and
                  required to operate the Applications Software or otherwise
                  support the provision of Services by IBM. Systems Software is
                  listed in Schedule B.

        2.2    ASSOCIATED CONTRACT DOCUMENTS

               This Agreement also includes Schedules A through M which will be
updated by the Parties as necessary or appropriate during the Term.

        2.3    TERM

               The term of this Agreement will begin as of 12:01 a.m. on the
Commencement Date and will end as of 12:00 midnight on March 31, 2003 (the
"Term"), unless earlier terminated or extended in accordance with this
Agreement.

        2.4    RENEWAL AND EXPIRATION

               IBM agrees to notify OTI whether it desires to renew this
Agreement and of the proposed prices, terms and conditions to govern such
renewal not less than 12 months prior to the expiration of the Term. If IBM
notifies OTI that it desires to renew this Agreement, OTI agrees to inform IBM
in writing whether it desires to renew this Agreement not less than nine months
prior to the expiration of the Term.

               If OTI notifies IBM that it desires to renew the Agreement, but
the Parties are unable to agree upon renewal prices, terms and conditions as of
six months prior to the expiration of the Term, this Agreement will be extended
for one year at the then current prices, terms and conditions (the "Extension
Period"). If the Parties are unable to reach agreement upon renewal prices,
terms and conditions during the Extension Period, this Agreement will expire at
the end of the Extension Period.

3.0     OVERVIEW

        3.1    START-UP OF SERVICES

               There will be a phase-in period ("Transition Period") beginning
on January 1, 1998 and ending on November 30, 1998. The Transition Period may be
extended by mutual agreement of the Parties. Following the Transition Period,
there will be a Measurement Period during which IBM will be responsible for
providing the Services and OTI and IBM will measure performance of the Services
against the preliminary service goals as set out in Schedule E. OTI

                                        4
<PAGE>   10

and IBM will work together during the Measurement Period to validate the
preliminary service goals and establish the Service Levels to be included in
Schedule E, validate and update any information that is reflected in or omitted
from the Agreement and assess the need for changes or additions to the Services.
As agreed by OTI and IBM, there shall be equitable adjustments to the Monthly
Services Charge and any other affected provision(s) of the Agreement and
Schedules shall be amended. If the parties are unable to reach agreement on the
amendments, then the Parties will submit the matter to the Joint Advisory
Committee for dispute resolution as specified in Section 16 of this Agreement.

        3.2    CONTRACTS

               Subject to Section 3.4, IBM shall have administrative
responsibility during the Term, as of and from the Assumption Date, for the
Contracts listed in Schedule F, in accordance with the responsibilities
indicated in Schedule E. IBM shall be responsible for the performance of those
obligations of OTI under the Contracts which fall within IBM's responsibilities
as set out in Schedule E, to the extent that such obligations were disclosed to
IBM on or before the Assumption Date through receipt by IBM of a copy of the
relevant documents, including, but not limited to, the applicable Contracts.

        3.3    SOFTWARE

               As of the Commencement Date, OTI will make the Software (other
than that Software listed in Schedule B -section B.1) available to IBM for the
purpose of providing the Services. Subject to Section 3.4, IBM will comply with
OTI's obligations of nondisclosure, under any such Systems Software License to
the extent such obligations were disclosed to IBM on or before the Commencement
Date through receipt by IBM of a copy of the relevant documents.

        3.4    REQUIRED CONSENTS

               While IBM and OTI will work cooperatively to obtain any Required
Consents, OTI shall have the ultimate responsibility for obtaining all Required
Consents and OTI shall bear the costs, if any, of obtaining all Required
Consents. IBM will use reasonable efforts to assist OTI in obtaining the
Required Consents.

        3.5    OTHER OBLIGATIONS

               As of the Assumption Date, OTI will not enter into any new, or
amend any existing, agreements or arrangements, written or oral, affecting or
impacting upon the Contracts referred to in Section 3.2 above, as specified in
the various Schedules to this Agreement, without the prior written consent of
IBM. IBM's consent shall not be unreasonably withheld, it being understood and
agreed that such consent may be subject to agreement by the Parties to the
amendment of any affected provision of this Agreement.

        3.6    SOFTWARE CURRENCY

               IBM agrees to maintain reasonable currency for releases and
versions of Software for which IBM is responsible, unless otherwise mutually
agreed. For the purposes of this

                                       5
<PAGE>   11

Section, reasonable currency shall mean that the new release or version is
installed no later than 12 months after the date the licensor makes such release
or version commercially available.

               At OTI's request, IBM will review and assess the accelerated
introduction of new releases and versions of Software for which IBM is
responsible. IBM will introduce such Software as soon as is reasonably
practicable, it being understood the introduction is subject to the Parties
having first mutually agreed that such introduction will not adversely affect
either the IBM Data Center common infrastructure or the Service Levels under
this Agreement. Any additional costs shall be payable by OTI and shall be
invoiced to OTI pursuant to Section 6.7. In the event either Party requests the
other Party to delay upgrading specific Software or requires operation and
maintenance of multiple versions of Software, the other Party shall do so,
provided, that if such Party:

               a.     is prevented from taking economic or performance advantage
        of technological advancements in the industry; or

               b.     incurs additional costs (e.g., software-support costs due
        to withdrawal of maintenance by the licensor, multiple-version charges,
        etc.),

then the requesting Party will either update the Software to the current level
or reimburse the other Party for any reasonable increased costs which the other
Party can demonstrate it has incurred (or will incur on an on-going basis) as a
result thereof.

               In addition, in the case where OTI is the requesting Party, OTI
shall relieve IBM from any related Service Levels until such time as the
affected Software is deemed reasonably current.

4.0     IBM RESPONSIBILITIES

        4.1    IBM PERSONNEL

               IBM will designate, prior to the Commencement Date, an IBM
project executive to whom all OTI's communications may be addressed and who has
the authority to act for and bind IBM and its subcontractors in connection with
all aspects of this Agreement (the "IBM Project Executive").

               a. IBM shall cause the person assigned to the position of IBM
        Project Executive to devote appropriate time and effort to the provision
        of the Services under this Agreement. Before assigning an individual to
        the position of IBM Project Executive, whether the individual is
        initially assigned or is subsequently assigned, IBM shall:

               1.     notify OTI of the proposed assignment;

               2.     introduce the individual to appropriate OTI
                      representatives; and

               3.     consistent with IBM's personnel practices, provide OTI
                      with any other information about the individual reasonably
                      requested by OTI.

                                        6
<PAGE>   12

                      IBM agrees to discuss with OTI any reasonable and lawful
        objections OTI may have to such assignment and attempt to resolve such
        concerns on a mutually agreeable basis.

               b. Except in the event the IBM Project Executive terminates
        his/her employment with IBM, dies, becomes disabled or breaches IBM
        company policy, IBM will give OTI at least 30 days' notice prior to
        assigning a new IBM Project Executive and will discuss with OTI any
        reasonable and lawful objections OTI may have to such assignment.

               c. In the event that OTI reasonably and in good faith determines
        that it is not in the best interests of OTI for any IBM employee or
        subcontractor to continue performing any of the Services, then OTI shall
        give IBM written notice specifying the reasons for its position and
        requesting that the employee or subcontractor be replaced. Promptly
        after its receipt of such a notice, IBM shall investigate the matters
        stated in such notice and, if it determines that OTI's concerns are
        reasonable, IBM shall take appropriate action.

               d. During the Term, OTI shall not solicit the services of any
        employee of IBM or its Affiliates who is dedicated primarily to the
        provision of the Services, without the prior written consent of IBM.

        4.2    STANDARDS

               IBM agrees that:

               a.     all Services performed by IBM for OTI will be performed in
        a workerlike manner; and

               b.     its performance of the Services will meet or exceed each
        of the applicable Service Levels.

        4.3    EFFICIENT USE OF RESOURCES

               IBM shall take reasonable action, taking into account economic
circumstances, to efficiently use resources that will be chargeable to OTI under
this Agreement, including, but not limited to:

               a.     making schedule adjustments;

               b.     delaying the performance of noncritical functions within
        established limits; and

               c.     tuning or optimizing the systems used to perform the
        Services, consistent always with OTI's priorities and schedules for the
        Services and IBM's obligation to meet the Service Levels.

                                        7

<PAGE>   13

        4.4    TECHNOLOGICAL ADVANCEMENTS

               Subject to the Change Management Procedures, IBM may, at IBM's
option and expense, implement technological advancements relative to the
provision of the Services so long as IBM continues to perform the Services in
accordance with the Service Levels set forth in this Agreement.

        4.5    MANAGEMENT AND CONTROL

               a.     By December 31, 1998, IBM shall provide a manual
        describing the operating processes and procedures relating to the
        performance of the Services (the "Procedures Manual").

               1.     The Procedures Manual shall be provided to OTI for review
                      and comment, and IBM shall incorporate therein any
                      reasonable comments or suggestions of OTI.

               2.     IBM shall periodically update the Procedures Manual to
                      describe any changes in the operations or procedures
                      described therein.

               3.     IBM shall perform all Services in accordance with the
                      Procedures Manual.

               b. By December 31, 1998, IBM shall provide the "Change Management
        Procedures" which will specify, at a minimum, that:

               1.     IBM will make no change which may have a material adverse
                      affect on the business operations of OTI without first
                      obtaining approval from OTI.

               2.     IBM will schedule change activities so as not to interrupt
                      OTI business operations.

               3.     IBM will prepare monthly, a rolling quarterly look-ahead
                      schedule for ongoing and planned changes materially
                      affecting OTI's business operating environment. The status
                      of such changes will be monitored and tracked against the
                      applicable schedule.

               4.     IBM will document and provide to OTI a notification of all
                      changes materially affecting OTI's business operating
                      environment performed for emergency purposes or as
                      otherwise not precluded in Section 4.5.b(1) as soon as
                      practicable, but in no event later than five business days
                      after the change was made.

        The Change Management Procedures will be included in the Procedures
        Manual and shall be provided to OTI for review and comment, and any
        reasonable comments or suggestions of OTI will be incorporated therein.

               c.     By December 31, 1998, IBM will begin providing a set of
        periodic reports to OTI. At a minimum, these reports will include the
        following:

                                        8
<PAGE>   14

               1.     a monthly performance report documenting IBM's performance
                      with respect to the Service Levels;

               2.     a monthly change activities schedule report containing the
                      information described in Section 4.5.b(4);

               3.     a monthly change report setting forth a record of all
                      changes materially affecting OTI's business operating
                      environment performed during the previous month;

               4.     a monthly report comparing the system resource thresholds
                      established by OTI with the actual system usage; and

               5.     such other reports as are mutually agreed by the Parties.

        IBM will provide OTI with such documentation and other information as
        may be reasonably requested by OTI from time to time in order to verify
        the accuracy of the reports specified above.

               d.     By September 15, 1998, the Parties will mutually determine
        an appropriate set of periodic meetings to be held between
        representatives of OTI and IBM. At a minimum, the Parties will hold the
        following meetings:

               1.     a weekly meeting among operational personnel to discuss
                      ongoing issues relating generally to daily performance and
                      planned or anticipated activities and changes;

               2.     a monthly management meeting to review the performance
                      report, the change activities schedule report, the change
                      report, and such other matters as appropriate;

               3.     a semi-annual senior management meeting to review relevant
                      contract and performance issues; and

               4.     at intervals to be mutually agreed, meetings to review
                      OTI's workload forecasts and to discuss IBM's capacity
                      planning and recommendations based on such forecasts.

        All meetings will have a published agenda issued by IBM sufficiently in
        advance of the meeting to allow meeting participants a reasonable
        opportunity to prepare for the meeting.

        4.6    MACHINES

               IBM will provide the Services using Services Machines and OTI
Machines. Without prejudice to any other separate agreements between the
Parties, IBM and OTI acknowledge and agree that OTI, as prime systems
integrator, has established the specifications and configuration for the
Machines and has selected the Machines to meet OTI's workload

                                        9
<PAGE>   15

estimates and capacity requirements. Consequently, IBM is not responsible for
the adequacy or suitability of the Services Machines to meet OTI's requirements
or to deliver the Services. From time to time, IBM and OTI may agree to IBM
providing additional Machines or replacement Machines, including upgrades; such
changes or additions will be addressed through the provisions of Section 6.3.
IBM retains all right, title and interest in and to all Services Machines (other
than OTI Machines), subject to Section 10.5 with respect to OTI's rights upon
termination or expiration of this Agreement.

        4.7    SOFTWARE SERVICES

               IBM will:

               a.     operate, maintain and enhance, as necessary to perform in
        accordance with the Service Levels, the Systems Software;

               b.     apply preventive maintenance and program temporary fixes
        to correct defects in the Systems Software;

               c.     provide or obtain new versions and releases, upgrades,
        replacements or additional Systems Software in accordance with this
        Agreement and Schedule F; and

               d.     run the Applications Software on the Systems Software
        platform.

        4.8    OPERATIONS, SUPPORT AND MAINTENANCE

               IBM will:

               a.     operate the IBM Data Center using the Machines and
        Software;

               b.     operate the Data Network using the Machines and Software;

               c.     provide maintenance services for Machines, in accordance
        with and subject to the maintenance Contracts and other third-party
        maintenance agreements;

               d.     store, maintain and control storage media (tapes, disk
        packs, etc.) provided by IBM at OTI's expense;

               e.     support, as provided in Schedule E, the Data Network by
        operating a control center which will provide alarm monitoring,
        first-level trouble analysis, and problem recording; place service calls
        to vendors to perform corrective maintenance; and manage problems to
        closure (the "Network Control Center" or "NCC");

               f.     deliver output to the designated drop location for OTI's
        distribution or transmit electronic print files to remote sites in
        accordance with Schedule E; and

               g.     monitor system capacity to support OTI application
        development and testing, in accordance with Schedule E and this
        Agreement.

                                       10
<PAGE>   16

        4.9    CONSOLIDATION AND RELOCATION SERVICES

               IBM will install, rearrange and relocate Machines within the Data
Center as IBM deems necessary in order to perform in accordance with the Service
Levels (subject to OTI's reasonable concurrence as prime systems integrator).

        4.10   SYSTEMS MANAGEMENT

               IBM will:

               a. perform capacity planning (in conjunction with OTI and in
        response to OTI workload forecasts), performance analysis and tuning for
        the Machines and Systems Software to the extent required to meet the
        Service Levels in accordance with Schedule E;

               b.     create and maintain a configuration diagram of the Lan as
        set out in Schedule I;

               c.     implement controls to effectively manage the operating
        environments, including change management and problem management
        according to the Procedures Manual;

               d.     provide back-up and restore capability for data and
        programs maintained in the IBM Data Center at the frequency specified by
        OTI; and

               e.     provide for systems access security through the use of
        appropriate security products in accordance with Schedule L.

        4.11   DISASTER RECOVERY

               IBM is not providing any offsite disaster recovery services under
this Agreement. IBM will cooperate with OTI and with any disaster recovery
vendor selected by OTI. Any additional services to be provided by IBM shall be
subject to Section 6.3 of this Agreement.

        4.12   PRODUCTION SERVICES

               IBM will:

               a.     schedule, control and monitor the running of production
        jobs in the IBM Data Center using scheduling and quality control
        procedures, as specified in the Procedures Manual which shall be based
        on OTI's pre-defined schedules; and

               b.     follow procedures for scheduling and directing output of
        all production work (including workload and performance balancing), as
        specified in the Procedures Manual and as agreed between IBM and OTI.

                                       11
<PAGE>   17

        4.13   HELP DESK/CUSTOMER SUPPORT CENTRE

               IBM will provide initial, single-point-of-contact support to End
Users to assist them with problem determination, tracking and closure, systems
status, requests and changes which may affect them, in accordance with Schedules
E and M.

        4.14   AUDITS

               IBM will provide reasonable assistance to OTI in meeting its
audit and regulatory requirements, including providing access to the IBM Data
Center and other IBM locations used exclusively to provide the Services to
enable OTI and its mutually acceptable third-party auditors and examiners to
conduct appropriate audits and examinations of the operations of IBM relating to
the performance of the Services to verify:

               a.     the accuracy of IBM's charges to OTI;

               b.     that IBM is exercising reasonable procedures to control
        the resources provided by OTI to IBM (such as heat, light and utilities
        utilized in providing Services to OTI); and

               c.     that Services are being provided in accordance with the
        Service Levels.

               Such assistance requires 72-hour notice to IBM except where
shorter notice is the result of statutory or regulatory audit requirements
imposed on OTI. Access will be provided during business hours on any reasonable
basis and subject always to IBM's and OTI's security requirements. To the extent
that any audit interferes with IBM's ability to perform the Services in
accordance with the Service Levels, IBM shall be relieved of its obligations
with respect to any affected Service Level. Provided such audits are requested
no more than once each calendar year, such assistance shall be provided at no
charge to OTI. IBM will provide access only to information reasonably necessary
to perform the audit. IBM shall not allow OTI, its auditors or examiners access
to other IBM or IBM customers' locations or IBM's or IBM customers' proprietary
data. IBM will also assist OTI's employees or auditors in testing OTI's data
files and programs, including, without limitation, installing and running audit
software, subject to the provisions of Section 6.

               Subject to Section 6.3, IBM agrees to make any changes and take
other actions which are necessary in order for IBM to maintain compliance with
Canadian laws or regulations. Where OTI requires additional Services as a result
of OTI's legal compliance requirements, such Service shall be provided by IBM
pursuant to Section 6.3. OTI may submit additional findings or recommendations
to IBM for its consideration, and IBM shall consider such findings.

               If any audit or examination reveals that IBM's invoices for the
Services for the audited period are not correct for such period, IBM shall
promptly reimburse OTI for the amount of any overcharges, or OTI shall promptly
pay IBM for the amount of any undercharges.

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<PAGE>   18

        4.15   ACCESS TO IBM DATA CENTER

               Subject to compliance with all of IBM's security, data center
procedures and confidentiality requirements and reasonable prior notice to IBM
of the purpose of the access and of the persons to be given access, IBM shall
provide reasonable access to the environment in which the Applications Software
is running, subject to IBM supervision.

5.0     OTI RESPONSIBILITIES

        5.1    PROJECT EXECUTIVE

               OTI agrees to designate, prior to the Commencement Date, a
project executive to whom all IBM communications may be addressed and who has
the authority to act for and bind OTI and its subcontractors in connection with
all aspects of this Agreement (the "OTI Project Executive").

        5.2    APPLICATIONS SOFTWARE

               During the Term, OTI will be responsible for selecting or
defining requirements for all Applications Software. IBM agrees to operate the
Applications Software selected by OTI, provided such Applications Software
conforms to the Operating Environment specified in Schedule K. OTI will also
retain responsibility for maintenance, support and all license and related
charges for Applications Software.

               OTI will be responsible to audit, control and approve new
Applications Software prior to its promotion into production.

        5.3    SUPPORT SERVICES

               OTI agrees to:

               a.     perform its responsibilities in accordance with the
        Procedures Manual and the Service Levels set forth in Schedule E and
        until such time as those documents are completed, in whole or in part,
        in accordance with OTI's practices and policies as of the Commencement
        Date; and

               b.     provide to IBM, to the extent not otherwise sold, assigned
        or licensed to IBM, for the purposes of meeting IBM's obligations under
        this Agreement, full access to, and use of, Machines and Software on the
        terms and conditions set forth in this Agreement.

        5.4    OTHER RESPONSIBILITIES

               OTI also agrees to:

               a      provide data, data entry, and data base management and
        coordinate such activities with IBM's systems design and production
        functions as described in Schedule E; and

                                       13
<PAGE>   19

               b.     designate and document application information
        requirements, including report design and content, frequency of reports,
        and accessibility to information;

               c.     provide support to End Users for questions and problems
        related to Applications Software;

               d.     provide workload forecasts at the intervals agreed between
        IBM and OTI and participate in capacity planning with IBM;

               e.     pay all common carrier charges for local, long distance,
        and WATS (in and out) telecommunications services and equipment;

               f.     be responsible for disaster recovery;

               g.     be responsible for all costs associated with off-site data
        storage;

               h.     be responsible for all mail, messenger, postage, courier
        and output distribution services;

               i.     be responsible for all costs of providing all storage
        media (tapes, disc packs, etc.) required by IBM in the performance of
        the Services;

               j.     be responsible for microfiche/microfilm supplies and
        retrieval and storage of any and all output; and

               k.     be responsible for such other OTI activities and functions
        as are described in this Agreement.

        5.5    APPROVALS AND NOTIFICATION

               In the event that IBM's performance of Services requires or is
contingent upon OTI's performance of an obligation hereunder (such as providing
approval or notification, or taking a recommended corrective action), and OTI
delays or withholds such performance beyond the agreed-to time period (or beyond
five business days, if a time period is not specified), and subject always to
Section 16.3 of this Agreement, IBM shall be relieved of any resulting failure
to perform all or part of the Services or its failure to meet any related
Service Level, until OTI performs its responsibility. If OTI has delayed or
withheld performance, IBM shall notify OTI if the failure of OTI to perform
will, or is likely to, result in IBM being unable to perform the Services. OTI's
responsibility for payment pursuant to Section 6 shall continue in full force
and effect and OTI also agrees to reimburse IBM for any additional expenses
incurred as a result of such delay.

        5.6    OTI'S FAILURE TO PERFORM OTI RESPONSIBILITIES

               The failure by OTI to perform any nonmonetary obligation slated
in Section 5 of this Agreement shall not, for the purposes of Section 10.2, be
considered as a material breach of this Agreement and Section 17.6 of this
Agreement shall apply. OTI's responsibility for payment

                                       14
<PAGE>   20

pursuant to Article 6 shall continue in full force and effect and OTI also
agrees to reimburse IBM for any additional expenses incurred by IBM as a result
of such nonperformance.

6.0     CHARGES AND EXPENSES

        6.1    MONTHLY SERVICES CHARGE

               OTI agrees to pay the specified Monthly Services Charge for each
month of the Term together with the other amounts as described in this Section 6
and set forth in Schedule J.

        OTI agrees to pay IBM a cost of living adjustment (COLA) during the term
        of this Agreement *

        The COLA will be calculated and payable in accordance with Schedule J.

        6.2    NEW ENTITIES

               If OTI acquires any additional Affiliate during the Term and OTI
desires that IBM provide Services for such Affiliate, IBM will provide such
Affiliate with Services in accordance with this Agreement, subject to OTI's
agreement to pay additional charges if IBM's acceptance of such responsibilities
requires New Services as described in Section 6.3.

        6.3    NEW SERVICES

               In the event that OTI requests IBM to perform functions different
from, and/or in addition to, the Services and IBM elects to provide such
services, the charge to OTI for IBM performing such functions will be determined
as follows:

               a.     IBM will quote to OTI the increase in the Monthly Services
        Charge or other payment method that will be attributable to such New
        Services, which will be based upon the required proportional increase in
        system and other applicable resources relative to the Monthly Services
        Charge;

               b.     the pricing for any New Services will be established on a
        basis which is no less favourable than that for other IBM customers in
        Canada for similar goods/services provided in similar volumes;

               c.     OTI, upon receipt of such quote, may then elect to have
        IBM perform the New Services and, subject to a written amendment to this
        Agreement signed by the Parties for such New Services, the Monthly
        Services Charge and the Services set out in Schedule E will be amended,
        if necessary, to reflect such New Services, and

               OTI's request will be managed in accordance with the Change Order
Process set out in the Procedures Manual.

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                       15
<PAGE>   21

        6.4    TAXES

               a.     In addition to the Monthly Services Charge, OTI agrees to
        pay any taxes, duties or government levies resulting from the
        transactions under this Agreement. This does not include taxes based
        upon IBM's income. OTI will also be responsible for paying all taxes due
        on or with respect to OTI Machines and Applications Software and for the
        payment of any telecommunications taxes for network lines and circuits.

               b.     Each Party shall bear sole responsibility for all taxes,
        assessments and other real property-related levies on its owned or
        leased real property.

               c.     The Parties agree to reasonably cooperate with each other
        to more accurately determine each Party's tax liability and to minimize
        such liability to the extent legally permissible.

               d.     Each Party shall provide and make available to the other
        exemption certificates and other tax-related information reasonably
        requested by either Party. The Parties will also work together to
        segregate the Monthly Services Charge into separate payment streams:

               1.     that for taxable Services;

               2.     that for nontaxable Services; and

               3.     that for which IBM functions merely as a paying agent for
                      OTI in receiving goods, supplies or services (including
                      leasing and licensing arrangements) that otherwise are
                      nontaxable or have previously been subject to tax.

        6.5    EXTRAORDINARY REDUCTION OF OTI WORK

               a.     If, during the Term, OTI experiences significant changes
        in the scope or nature of its business which have or are reasonably
        expected to have the effect of causing a sustained substantial decrease
        of * percent or more in the amount of IBM resources used in performing
        the Services, provided such decreases are not due to OTI resuming the
        provision of such Services by itself or OTI transferring the provision
        of such Services to another vendor, such changes shall be governed by
        this Section. Examples of the kinds of events that might cause such
        substantial decreases are:

               1.     changes to locations where OTI operates;

               2.     changes in OTI's products or markets;

               3.     mergers or divestitures;

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                       16
<PAGE>   22

               4.     changes in the method of service delivery (other than use
                      of another vendor); or

               5.     changes in market priorities.

               b.     OTI will notify IBM of any event or discrete set of events
        which OTI believes qualifies under this Section, and IBM will identify
        in a plan that will be submitted to OTI for review and acceptance, any
        changes that can be made to accommodate the extraordinary decrease of
        resource requirements in a cost-effective manner without disruption to
        OTI's ongoing operations, and the cost savings that will result
        therefrom.

               c.     Upon acceptance by OTI, IBM will make any applicable
        adjustments to the Monthly Services Charge to reflect the foregoing and
        distribute an amended Schedule J to the Parties.

               d.     OTI may, at its option and expense, employ an accredited
        and independent auditor to verify IBM's methodology for calculating the
        savings referenced in Section 6.5(b) above conforms to accepted
        accounting practices.

        6.6    SERVICES TRANSFER ASSISTANCE

               a.     It is the intent of the Parties that at the expiration or
        termination of this Agreement, IBM will cooperate with OTI to assist
        with the orderly transfer of the Services provided by IBM hereunder to
        another services provider or OTI itself. Prior to expiration or
        termination of the Agreement, OTI may request IBM to perform and, if so
        requested, IBM shall perform (except in the event of termination for
        cause by IBM) services in connection with migrating the work of OTI to
        another services provider or OTI itself ("Services Transfer
        Assistance"). Services Transfer Assistance shall be provided:

               1.     until the effective date of expiration or termination with
                      respect to the Services; and

               2.     with respect to expiration or termination of related
                      services which are in addition to the Services, for up to
                      six additional months after the effective date of
                      expiration or termination.

               Subject to Section 6.6(c) below, Services Transfer Assistance
        shall include providing OTI and its Affiliates and their agents,
        contractors and consultants, as necessary, with services such as the
        following:

               1.     Premigration Services

                      (a)    freezing all noncritical Software changes;

                      (b)    notifying all IBM subcontractors of procedures to
                             be followed during the turnover phase;

                                       17
<PAGE>   23

                      (c)    reviewing all Software libraries (tests and
                             production) with the new service provider and/or
                             OTI;

                      (d)    assisting in establishing naming conventions for
                             the new production site;

                      (e)    analyzing space required for the data bases and
                             Software libraries; and

                      (f)    generating a tape and computer listing of the
                             source code in a form reasonably requested by OTI.

               2.     Migration Services

                      (a)    unloading the production data bases;

                      (b)    delivering tapes of production data bases (with
                             content listings) to the new operations staff;

                      (c)    assisting with the loading of the data bases:

                      (d)    assisting with the communications network turnover,
                             if applicable; and

                      (e)    assisting in the execution of a parallel operation
                             until the effective date of expiration or
                             termination of this Agreement.

               3.     Postmigration Services

                      (a)    answering questions regarding the Services on an
                             as-needed basis; and

                      (b)    turning over of any remaining OTI-owned reports and
                             documentation still in IBM's possession.

               c.     If any Services Transfer Assistance provided by IBM
        requires the utilization of additional resources, OTI will pay IBM for
        the incremental resources. If the Services Transfer Assistance requires
        IBM to incur expenses in excess of the expenses that IBM would otherwise
        incur in the performance of this Agreement, then:

               1.     IBM shall notify OTI of any additional expenses associated
                      with the performance of any additional services pursuant
                      to this Section prior to performing such services and upon
                      OTI's authorization, IBM shall perform the additional
                      services and invoice OTI for such services; and

               2.     OTI shall pay IBM for such additional expenses incurred to
                      provide the additional services within ten days of the
                      date of the invoice.

                                       18
<PAGE>   24

        6.7    OTHER EXPENSES AND CHARGES

               OTI will be financially responsible for all costs and expenses
associated with its responsibilities specified in Section 5. Such costs and
expenses are not included within the Monthly Services Charge or any other
charges payable by OTI under this Agreement.

        6.8    OPTION TO PURCHASE OR LEASE

               a.     Provided that OTI is not in default of its obligations
        under this Agreement, OTI shall have the option, at any time during the
        term of this Agreement, to purchase from IBM the Service Machines then
        currently being used by IBM on a dedicated basis to perform the
        Services, *. OTI shall be responsible for any taxes associated with the
        purchase as well as the costs for any appraisals of such Machines. In
        the alternative, OTI may request and IBM may, in its discretion, agree
        to leasing such Machines directly to OTI on terms and conditions to be
        agreed between OTI and IBM.

               b.     Should OTI exercise the option to purchase set out in
        Section 6.8(a) above, the Monthly Services Charge shall be accordingly
        reduced.

7.0     INVOICING AND PAYMENT

        7.1    MONTHLY SERVICES CHARGE INVOICES

               IBM will invoice OTI monthly in advance for the Monthly Services
Charge for that month. The invoice will state separately applicable taxes owed
by OTI, if any, by tax jurisdiction. The invoice will also state separately that
portion of the Services Charge which is in respect of the use by IBM of the
Services Machines identified in Section 1 of Schedule D to deliver Services.

        7.2    OTHER CHARGES

               Any amount due under this Agreement for which a time for payment
is not otherwise specified will be due and payable within 30 days after the date
of the invoice.

        7.3    INVOICE PAYMENT

               OTI shall pay each invoice by wire funds transfer or other
electronic means acceptable to IBM to an account specified by IBM. Payment of
the Monthly Services Charge invoice shall be made within 30 days of the date of
an invoice. In the event that any payments are not received by IBM within 5 days
of the due date, OTI shall also pay a late fee equal to the lesser of:

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                       19
<PAGE>   25

               a.     * percent of the amount of such payment per month
        (* percent per annum); or

               b.     the maximum amount permissible by law.

        7.4    PRORATION

               All periodic charges under this Agreement are to be computed on a
calendar-month basis and will be prorated for any partial month, unless
specifically stated otherwise in this Agreement.

        7.5    OTHER CREDITS

               Except as otherwise set forth in this Agreement, with respect to
any amount to be paid or reimbursed to OTI by IBM pursuant to this Agreement,
IBM may, at its option, pay that amount to OTI or give OTI a credit against the
charges otherwise payable to IBM hereunder at the time any such amount is due
and payable to OTI.

8.0     INTELLECTUAL PROPERTY RIGHTS

               This Section specifies the ownership and license rights of
Materials, as defined below, developed by IBM, its subcontractors and OTI
personnel pursuant to this Agreement.

        8.1    INTELLECTUAL PROPERTY DEFINITIONS

               a.     "Modified Work" means a work based on one or more
        preexisting works, including, without limitation, a condensation,
        transformation, expansion or adaptation, which, if prepared without
        authorization of the owner of the copyright of such preexisting work,
        would constitute a copyright infringement.

               b.     "Developed Code" means Materials which are computer
        programming code, including source and object code, developed pursuant
        to this Agreement or in performance of the Services.

               c.     "Materials" means literary works or other works of
        authorship not available under vendor software license agreements
        (including IBM license agreements) which are developed under this
        Agreement or in performance of the Services such as programs, program
        listings, programming tools, documentation, reports and drawings,
        including Type I, Type II, Type III and Type IV Materials.

               d.     "Type I Material" means all Developed Code pertaining to
        OptiMark Proprietary Elements; all Developed Code that is unique to the
        OptiMark Proprietary Systems or implements OptiMark Proprietary Elements
        including messaging protocols; any Developed Code which is a Modified
        Work of software which is either owned by

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                       20
<PAGE>   26

        OTI or is licensed to OTI and which is specifically developed by or on
        behalf of OptiMark or which is developed by IBM at OptiMark's request
        and expense; any Developed Code that incorporates OptiMark Confidential
        Information; and those portions of Type IV Material which contain or
        disclose OptiMark Proprietary Elements.

               e.     "Type II Material" means Developed Code which does not
        constitute a Modified Work of any software owned by OTI, IBM or its
        Affiliates or any third party.

               f.     "Type III Material" means Developed Code which a.
        constitutes a Modified Work of software which is licensed by IBM, its
        Affiliates or subcontractors or for which the preexisting copyright is
        owned or licensed by IBM, its Affiliates or subcontractors.

               g.     "Type IV Material" means literary works of authorship
        developed under this Agreement or in the performance of the Services,
        such as user manuals, charts, graphs and other written documentation and
        machine-readable text and files, excluding Developed Code.

        8.2    IBM DEVELOPED MATERIALS

               With respect to any Materials developed either solely by IBM or
its subcontractors, or jointly by OTI personnel and IBM or its subcontractors:

               a.     Type I Materials shall be owned by OTI, and IBM shall have
        the following license rights:

               1.     a nonexclusive, worldwide, paid-up license to use,
                      execute, reproduce, display, perform and distribute such
                      Materials internally within IBM for the sole benefit of,
                      and exclusive use to provide the Services to, OTI during
                      the Term; and

               2.     the right to sublicense third parties to do any of the
                      foregoing.

               b.     Type II Materials shall be owned by IBM, and OTI shall
        have the following license rights:

               1.     a perpetual, nonexclusive, worldwide, paid-up license to
                      use, execute, reproduce, display, perform and distribute
                      such Materials for use only in conjunction with the
                      OptiMark Proprietary Trading Systems for the sole benefit
                      of and exclusive use by OTI; and

               2.     the right to sublicense third parties to do any of the
                      foregoing.

               c.     Type III and IV Materials shall be owned by IBM, and OTI
        shall have the following license rights:

               1.     a nonexclusive, worldwide, paid-up license to use,
                      execute, reproduce, display, perform and distribute such
                      Materials for use only in conjunction

                                       21
<PAGE>   27

                      with the OptiMark Proprietary Trading Systems for the sole
                      benefit of and exclusive use by OTI in receipt of the
                      Services during the Term; and

               2.     the right to sublicense third parties to do any of the
                      foregoing;

        provided, however, that OTI shall have such additional license rights as
        may be granted to OTI pursuant to subsection 8.4 below.

        8.3    OTI DEVELOPED MATERIALS

               With respect to any Materials which are or have been developed
solely by OTI personnel, whether or not developed under this Agreement, such
Materials shall be owned by OTI, and IBM at OTI's sole option, shall have the
following license rights:

               a.     a nonexclusive, worldwide, paid-up license to use,
        execute, reproduce, display, perform and distribute such Materials
        internally within IBM for the sole benefit of, and exclusive use to
        provide the Services to, OTI during the Term; and

               b.     the right to sublicense third parties to do any of the
        foregoing.

        8.4    GENERAL RIGHTS

               a.     At the expiration or earlier termination of this
        Agreement, so long as OTI has fully complied with all of its
        obligations, and is not in default under this Agreement, IBM will grant
        to OTI the following license rights in only the Type III and IV
        Materials owned by IBM, and not the software for which such Type III and
        IV Materials constitute a Modified Work:

               1.     a perpetual, nonexclusive, worldwide, paid-up license to
                      use, execute, reproduce, display, perform and distribute
                      such Materials for use only in conjunction with the
                      OptiMark Proprietary Trading Systems for the sole benefit
                      of and exclusive use by OTI; and

               2.     the right to sublicense third parties to do any of the
                      foregoing.

               b.     Any ownership or license rights herein granted to either
        Party are limited by and subject to any patents and copyrights held by,
        and terms and conditions of any license agreements with, applicable
        vendor software providers, including, but not limited to, IBM.

               c.     To the extent any of the Materials may not, by operation
        of law, be owned by the Party to which ownership has been granted (as
        described in this Section 8), each Party agrees to assign and hereby
        assigns, without further consideration, the ownership of all right,
        title and interest in all U.S., Canadian and foreign copyrights and mask
        work rights (if any) in such Materials to the other Party, and such
        assignee Party shall have the right to obtain and hold in its own name
        copyrights, registrations, renewals and all other rights relating or
        pertinent thereto.

                                       22
<PAGE>   28

               d.     The Parties agree to reproduce copyright legends which
        appear on any portion of the Materials.

               e.     Subject to the terms of the Confidentiality Agreement,
        this Agreement shall not preclude IBM or OTI from developing materials
        or providing services which are competitive to the Materials
        irrespective of their similarity to computer programming code,
        documentation or other materials or services which might be delivered
        pursuant to this Agreement, except to the extent any of same may
        infringe any of the other Party's patent rights or copyrights.

               f.     Except for the licenses expressly granted under this
        Section 8, neither this Agreement nor any disclosure made hereunder
        grants any license to either Party under any patents or copyrights of
        the other Party.

9.0     CONFIDENTIALITY

        IBM and OTI agree that any information which is exchanged by the Parties
shall be subject to the Confidentiality Agreement.

10.0    TERMINATION

        10.1   TERMINATION FOR CONVENIENCE

               Subject to the other provisions of this Agreement, OTI may
terminate this Agreement beginning June 1, 2000, upon at least 180 days' prior
written notice to IBM. If OTI terminates this Agreement prior to the expiration
of the Term, other than as specified in Section 10.2, OTI agrees to pay IBM on
the effective date of the termination, the Termination Charge as specified in
Schedule J. Any termination charge will be prorated according to the following
formula:

        Prorated Termination Charge =

        [{(A-B) / 12 months} x C] + B + D

        where:

        A =    the Base Termination Charge specified in Schedule J for the year
               in which the termination is effective;

        B =    the Base Termination Charge specified in Schedule J for the year
               after the year in which the termination is effective;

        C =    the number of months remaining during the year in which the
               termination is effective; and

        D =    the Additional Termination Charge specified in Schedule J.

                                       23
<PAGE>   29

               In addition to payment of the Prorated Termination Charge, OTI
shall:

               1.     exercise the option to purchase set out in Article 6.8; or

               2.     pay to IBM the amount equal to the lease termination
                      charges and any incidental costs which IBM will incur
                      relating to the termination of the leases; and

               3.     OTI shall be responsible for the re-licensing charges,
                      transfer charges and the costs of terminating licenses,
                      leases or contracts for software provided by IBM, other
                      than Systems Software retained by IBM.

        10.2   TERMINATION FOR CAUSE

               a.     Upon written notice, either Party may terminate this
        Agreement, without charge to the terminating Party, in the event of a
        material breach by the other. However, the Party seeking termination
        will provide the other Party with sufficient, reasonable written prior
        notice of such material breach and the opportunity to cure same, as
        follows:

               1.     in the event of a failure to pay any amount due and
                      payable under this Agreement when due, at least 10 days
                      and in the case of a failure to pay by OTI, the periods
                      and process specified in Article 10.3 shall apply; and

               2.     in the event of any other material breach, at least 45
                      days.

               b.     If the nature of any nonmonetary breach is such that it
        would be unreasonable to expect a cure within a 45-day period, the
        breaching Party shall be given an additional 15 days to cure such
        breach. In the event the material breach is not cured within the periods
        specified above after delivery of the notice, the nonbreaching Party may
        terminate this Agreement, which termination shall be in writing, as of a
        date specified in such notice of termination. The terminating Party
        shall have all rights and remedies generally afforded by law or equity,
        subject to the limitations expressed in this Agreement.

        10.3   TERMINATION FOR OTI'S FAILURE TO PAY

               a.     In the event OTI fails to pay any Monthly Services Charge
        invoice within 45 days of the invoice date, IBM shall have the right to
        terminate this Agreement in accordance with the terms of this Section
        10.3. Before IBM can terminate this Agreement due to any Payment
        Default, IBM shall provide OTI with written notice of IBM's intention to
        terminate this Agreement specifying the claimed Payment Default (a
        "Payment Default Notice"). The notice shall provide a period of not less
        than 10 days from the date of the notice (the "cure period") within
        which OTI may cure such default.

               b.     If OTI fails to cure any Payment Default within the first
        five days of the cure period, IBM shall provide a further written notice
        to OTI setting out the claimed Payment Default. If OTI fails to cure any
        Payment Default within the cure period, upon expiry of five days from
        the date of such further notice, IBM shall have the right to

                                       24
<PAGE>   30

        terminate this Agreement and cease to provide the Services, which
        termination shall be in writing, and shall be effective as of a date
        specified in such notice of termination. This right may be exercised by
        IBM following the expiry of the cure period and at any time until the
        amount specified in the Payment Default Notice and any other overdue and
        unpaid Monthly Services Charge invoices after the invoice specified in
        the Payment Default Notice and prior to the delivery of the Payment
        Default Notice ("Other Overdue Invoices"), have been paid. If on any two
        occasions during any 12-month period during the term of this Agreement,
        IBM issues a Payment Default Notice and the Payment Default is cured by
        OTI on or after the 55th day after the invoice date therefor, IBM shall
        have the right to terminate this Agreement within 30 days of such event;
        provided that IBM shall not have the right to cease to provide the
        Services by reason of such termination and IBM will provide OTI with
        Services Transfer Assistance in accordance with the provisions of
        Section 6.6. In such event, IBM will invoice OTI monthly in advance,
        amounts shall be due and payable within 10 days of the invoice date and
        if OTI fails to pay for the Services when due, IBM shall be entitled to
        give OTI 5 days' notice of its intention to cease providing such
        Services if OTI does not cure the payment defaults within such 5-day
        period.

               c.     Notwithstanding b) above, IBM will not be entitled to
        terminate this Agreement or cease providing Services because of OTI's
        failure to pay amounts due and owing under this Agreement if OTI
        notifies IBM in writing that OTI is of the bona fide belief that it is
        not obliged to make such payments and OTI pays any amount which OTI does
        not dispute, but in any event not less than 90% of the amount due and
        owing and described in the applicable Monthly Services Charge invoice
        delivered to OTI.

        10.4   TERMINATION FOR ACT OF INSOLVENCY

               Upon the occurrence of an Act of Insolvency with respect to
either Party, this Agreement may be terminated by the other Party. If a court
holds that IBM is unable to terminate this Agreement upon the occurrence of an
Act of Insolvency with respect to OTI and IBM is obligated in such circumstances
to continue to provide the Services to OTI, then the Monthly Services Charges
and all other amounts owed to IBM under this Agreement shall be due and payable
by OTI to IBM in advance by certified cheque.

        10.5   EXTENSION OF SERVICES

               Except in the case of a termination of this Agreement due to a
material breach by OTI, OTI may once request and IBM will extend the provision
of Services for a period not to exceed 180 days beyond the effective date of
termination or expiration; provided, however, in the event of a termination by
OTI pursuant to Section 10.2, the Termination Charge shall not be adjusted as a
result of a request by OTI to extend the provision of the Services. Such request
must be in the form of a written notice received by IBM not less than 60 days
prior to the effective date of termination or expiration of the Agreement except
in the event of material breach by IBM, in which case a 30-day notice provision
will apply. IBM will prepare an amendment to the Agreement (including the
affected Schedules) extending the Term, the Monthly Services Charge and other
related provisions, as appropriate.

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<PAGE>   31

               OTI will pay IBM for all additional charges and expenses, if any,
incurred by IBM as a result of IBM's provision of such extended Services which
are not otherwise recovered by the Monthly Services Charge or other charging
methodology described herein.

        10.6   OTHER RIGHTS UPON TERMINATION OR EXPIRATION

               Provided OTI is not in default of its obligations under this
Agreement:

               a.     For software proprietary to IBM developed under this
        Agreement and not generally commercially available, IBM will provide a
        license to OTI, for use only in conjunction with the OptiMark
        Proprietary Trading Systems for the sole benefit of and exclusive use by
        OTI, upon terms and prices to be mutually agreed upon by the Parties or,
        at OTI's option, IBM will recommend a mutually agreeable commercially
        available substitute to perform the same function.

               b.     Subject to OTI's acceptance of any applicable vendor terms
        and conditions and payment by OTI of any transfer fee, license fee or
        other charges imposed by such vendor:

               1.     with respect to generally commercially available Software
                      (including IBM Software), if IBM has licensed or purchased
                      and is using such Software solely in providing the
                      Services to OTI on the date of expiration or termination,
                      IBM will transfer the Software to OTI upon OTI's
                      reimbursement to IBM for initial license or purchase
                      charges for such Software in an amount equal to the
                      remaining unamortized cost of such Software, if any,
                      depreciated over a five-year life;

               2.     with respect to generally commercially available Software
                      (including IBM Software), if IBM has licensed or purchased
                      and is using such Software in providing the Services to
                      OTI and other IBM customers in a shared environment on the
                      date of expiration or termination, IBM will assist OTI in
                      obtaining licenses for such Software; and

               3.     IBM will transfer or assign to OTI or its designee, upon
                      OTI's request, on mutually acceptable terms and
                      conditions, any contracts applicable solely to the
                      provision of Services to OTI (i.e., maintenance and other
                      available third-party services) then being used by IBM to
                      perform the Services.

               c.     IBM will provide Services Transfer Assistance pursuant to
        Section 6.6.

11.0    LIABILITY

        11.1   GENERAL INTENT

               Each Party's and each of its subcontractor's entire liability to
the other Party and its exclusive remedies are set forth in this Section and
Section 13. Subject to the specific provisions of this Section, it is the intent
of the Parties that each Party will be liable to the other

                                       26
<PAGE>   32

Party for damages incurred by the nonbreaching Party as a result of the
breaching Party's failure to perform its obligations in the manner required by
this Agreement.

        11.2   DAMAGES

               a.     Each Party's and each of its subcontractor's entire
        liability for actual, direct damages, resulting from such Party's
        performance or nonperformance under this Agreement, regardless of the
        form of action, and whether in contract, tort (including, without
        limitation, negligence), warranty or other legal or equitable grounds,
        will be limited in the aggregate for all claims, causes of actions and
        occurrences to an amount equal to:

               1.     the amount actually paid by OTI to IBM for the Services
                      during the 6 months prior to the event which is the
                      subject of the claim; or

               2.     in the case where less than 6 months of the Term have
                      elapsed at the time of an event which is the subject of a
                      claim, the actual charges paid by OTI to IBM during the
                      first 6 months of the Term.

               b.     The limitation in Section 11.2(a) above will not apply to:

               1.     any obligation or failure by OTI to pay any amounts due or
                      past due and owing to IBM pursuant to the terms of this
                      Agreement;

               2.     Losses by either Party for bodily injury or damage to real
                      property or tangible personal property, as described in
                      Section 13.3; and

               3.     either Party's obligation to indemnify the other for
                      patent and copyright infringement Losses and Losses
                      relating to tax liabilities, as provided in Sections
                      13.1(a) and (c) and 13.2(a) and (d), respectively.

               c.     In no event will either Party have any liability whether
        based on contract, tort (including, without limitation, negligence),
        warranty or any other legal or equitable grounds, for any loss of
        interest, profit or revenue by the other Party or for any consequential,
        indirect, incidental, special, punitive or exemplary damages suffered by
        the other Party, arising from or related to this Agreement, even if such
        Party has been advised of the possibility of such losses or damages;
        provided, however, that this clause will not prevent either Party from
        recovering amounts owed under this Agreement.

               d.     In no event will IBM have any liability whether based on
        contract, tort (including, without limitation, negligence), warranty or
        any other legal or equitable grounds, for any third-party claims against
        OTI for Losses, except for Losses arising out of claims set forth in
        Sections 11.2(b)(2) and 11.2(b)(3).

               e.     In no event will IBM or its subcontractors be liable for
        any damages if and to the extent caused by OTI's failure to perform its
        responsibilities, nor shall OTI be liable for any damages if and to the
        extent caused by IBM's (or its subcontractors') failure to perform its
        responsibilities as set forth in this Agreement.

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<PAGE>   33

        11.3   LOSS OF DATA

               IBM will not be responsible for:

               a.     corruption, damage, loss or mistransmission of data;
        however, IBM will use all commercially reasonable efforts to reconstruct
        the affected data from available backup materials as specified in the
        Procedures Manual; or

               b.     the security of data during transmission via public
        telecommunications facilities.

12.0    WARRANTY

        12.1   REPRESENTATIONS AND WARRANTIES

               a.     OTI represents that OTI is either the owner of each OTI
        Machine or is authorized by its owner to include it under this
        Agreement.

               b.     OTI represents and warrants that all obligations with
        respect to the Contracts accruing prior to or attributable to periods
        prior to the Assumption Date have been satisfied.

               c.     OTI represents and warrants that all obligations with
        respect to the Software Licenses accruing prior to or attributable to
        periods prior to the Commencement Date have been satisfied.

               d.     OTI represents and warrants that it will ensure that OTI's
        facilities, at which IBM personnel will be required to be present from
        time to time for the purpose of performing Services, constitute a safe
        working environment in accordance with all applicable laws and OTI shall
        deal with all hazardous or toxic substances present in such OTI
        facilities as required by the laws applicable to such OTI facilities.

               e.     IBM represents and warrants that it will ensure that the
        IBM Data Center, at which OTI personnel may be present from time to time
        in connection with this Agreement, constitutes a safe working
        environment in accordance with all applicable laws and IBM shall deal
        with all hazardous or toxic substances present in the IBM Data Center as
        required by the laws applicable to such IBM Data Center.

        12.2   COMPLIANCE WITH OBLIGATIONS

               Each Party represents and warrants that its entry into this
Agreement does not violate or constitute a breach of any of its contractual
obligations with third parties.

        12.3   YEAR 2000

               a.     In order to provide the Services, IBM will use Machines
        and other products which may include IBM software, hardware and other
        products ("IBM

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<PAGE>   34

        Products") as well as hardware, software and other products which are
        not produced or manufactured by IBM ("Third Party Products").

                      In this Section 12.3, "Year 2000 ready" means the
        capability of IBM Products used to deliver the Services, when used in
        accordance with associated documentation, to correctly process, provide
        and receive date data within and between the twentieth and twenty-first
        centuries, provided that all Third Party Products properly exchange date
        data with the IBM Products.

                      The IBM Products used to provide the Services are either
        Year 2000 ready or will be converted by IBM to Year 2000 ready, on a
        timely basis.

                      IBM will use all reasonable efforts to obtain appropriate
        Year 2000 warranties for all Third Party Products. Prior to January 1,
        1999, IBM may notify OTI if IBM believes there is a reasonable
        possibility that any Service will experience date-related problem(s)
        arising from the change in century (a "Notice of Exception"), which
        problems may impact IBM's ability to provide any Service as is required
        by this Agreement. Within sixty (60) days of OTI's receipt of such
        notice, OTI may terminate the Service or this Agreement pursuant to
        Article 10.1 without obligation to pay the Termination Charge. OTI's
        sole remedy and IBM's sole liability for IBM's inability to provide the
        Service(s) specified in the Notice of Exception will be termination as
        specified in this section 12.3(a).

               b.     Should IBM be unable to provide Service(s) as required by
        this Agreement because any IBM Product used to deliver the Service(s) is
        not Year 2000 ready, IBM will immediately commence all reasonable
        efforts, working in conjunction with OTI, to determine the underlying
        source of the problem. If it is confirmed that the source is an IBM
        Product, IBM will use all reasonable efforts to develop and implement,
        at IBM's expense, a solution and to restore the Service(s). If IBM is
        unable to develop and implement such a solution within a commercially
        reasonable period, IBM will notify OTI and OTI may, at its option,
        terminate this Agreement pursuant to Section 10.2 of this Agreement.

               c.     It IBM determines that IBM's inability to provide the
        affected Service is due to the inability of Third Party Products, used
        by IBM to deliver the Services, to correctly process or properly
        exchange date data with IBM Products, IBM will endeavour to enforce the
        terms of the Third Party Product supplier's warranties and IBM will work
        with the Third Party Product supplier and OTI to help identify and
        implement a solution to the problem. If a solution cannot be developed
        and implemented within a commercially reasonable period, IBM will notify
        OTI and OTI may, at OTI's option, terminate this Agreement pursuant to
        Section 10.1 without obligation to pay the Termination Charge.
        Notwithstanding any other provision of this Agreement, IBM shall have no
        further liability with respect to such matter.

               d.     Except as expressly stated above, IBM will be relieved of
        its obligations to provide Services under this Agreement due to the
        inability of Third Party Products to

                                       29
<PAGE>   35

        correctly process or properly exchange accurate date data with the IBM
        Products used to provide the Services.

               e.     OTI will use all reasonable efforts to obtain appropriate
        Year 2000 warranties from its vendors and suppliers of OTI Machines and
        for the Applications Software. If IBM experiences any problem in
        delivering Services arising from the change in century which problem is
        attributable to the inability of OTI Machines or the Applications
        Software to correctly process or properly exchange accurate date data
        with IBM furnished equipment or Services under this Agreement, or the
        inability of OTI to perform a responsibility under this Agreement so as
        to permit the correct processing or proper exchange of accurate date
        data with IBM (an "OTI Year 2000 Problem"), OTI will use all reasonable
        efforts to develop and implement a solution to the OTI Year 2000
        Problem, at OTI's expense, which will permit IBM to deliver the Services
        as required by this Agreement. If OTI cannot remedy the OTI Year 2000
        Problem within a commercially reasonable period of time, OTI may, at its
        option, terminate this Agreement pursuant to Section 10.1. Failing such
        termination, OTI shall continue to be responsible for payment in
        accordance with Section 6. Except as stated in this section 12.3(e), OTI
        will have no further liability to IBM with respect to OTI Year 2000
        Problems.

        12.4   DISCLAIMERS

               a.     IBM does not warrant the accuracy of any advice, report,
        data or other product delivered to OTI which is produced with or from
        data and/or Software provided by OTI. Such products are delivered AS IS,
        and IBM shall not be liable for any inaccuracy thereof.

               b.     Subject to the obligations of IBM contained in this
        Agreement, IBM does not assure uninterrupted or error-free operation of
        the Machines.

               c.     EXCEPT AS PROVIDED IN THIS AGREEMENT, THERE ARE NO OTHER
        EXPRESS WARRANTIES, AND THERE ARE NO IMPLIED WARRANTIES OR CONDITIONS,
        INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OR CONDITIONS OF
        MERCHANTABLE QUALITY AND FITNESS FOR A PARTICULAR PURPOSE.

        12.5   AUTHORIZATION AND ENFORCEABILITY

               Each Party hereby represents that:

               a.     it has all requisite corporate power and authority to
        enter into this Agreement and to carry out the transactions contemplated
        hereby;

               b.     the execution, delivery and performance of this Agreement
        and the consummation of the transactions contemplated hereby have been
        duly authorized by all requisite corporate action on the part of each
        Party; and

               c.     this Agreement has been duly executed and delivered by
        such Party and (assuming the due authorization, execution and delivery
        hereof by the other Party) is a

                                       30
<PAGE>   36

        valid and binding obligation of such Party, enforceable against it in
        accordance with its terms.

        12.6   REGULATORY AND CORPORATE PROCEEDINGS

               Each Party agrees to obtain all necessary regulatory approvals
applicable to its business, obtain any necessary permits, and comply with any
regulatory requirement, in each case, applicable to the performance, or receipt,
of the Services.

13.0    INDEMNITIES

        13.1   INDEMNITY BY IBM

               IBM agrees to indemnify, defend and hold OTI, its Affiliates and
their respective officers, directors, employees, agents, successors and assigns
(the "OTI Indemnitees") harmless, in accordance with the procedures described in
Section 13.4 from and against any and all Losses incurred by OTI Indemnitees
arising from or in connection with:

               a.     any claims of infringement made against OTI Indemnitees of
        any Canadian patent or copyright, trademark, service mark, trade name or
        similar proprietary rights, or misappropriation of a trade secret,
        conferred by contract or by common law or by any law of Canada or any
        province therein, alleged to have occurred because of equipment,
        systems, programs or products provided to OTI by IBM; provided, however,
        that IBM will have no obligation with respect to any Losses to the
        extent the same arise out of or in connection with OTI's modification of
        equipment, systems, programs or products or OTI's combination, operation
        or use with devices, data, equipment, systems, programs or products not
        furnished by IBM or its subcontractors;

               b.     any duties or obligations of IBM arising out of or in
        connection with any License accruing on or after the Commencement Date,
        or arising out of or in connection with any Lease or Contract accruing
        on or after the Assumption Date, subject to Sections 12.1(b), 12.1(c)
        and 3.5;

               c.     any amounts, including but not limited to taxes, interest
        and penalties assessed against the OTI Indemnitees, which are
        obligations of IBM pursuant to Section 6.4; and

               d.     any environmental claim arising out of this Agreement or a
        result of the Services performed at the IBM Data Centre where IBM has
        caused the environmental damage by actions unrelated to and unauthorized
        by this Agreement.

        13.2   INDEMNITY BY OTI

               OTI agrees to indemnify, defend and hold IBM, its Affiliates and
their respective officers, directors, employees, agents, successors and assigns
(the "IBM Indemnitees") harmless, in accordance with the procedures described in
Section 13.4, from and against any and all Losses, incurred by the IBM
Indemnitees, arising from or in connection with:

                                       31
<PAGE>   37

               a.     any claims of infringement made against the IBM
        Indemnitees of any Canadian patent or copyright, trademark, service
        mark, trade name or similar proprietary rights, or misappropriation of a
        trade secret, conferred by contract or by common law or by any law of
        Canada, alleged to have occurred because of equipment, systems, programs
        or products provided to the IBM Indemnitees by OTI hereunder; provided,
        however, that OTI will have no obligation with respect to any Losses to
        the extent the same arise out of or in connection with IBM's
        modification of equipment, systems, programs or products or IBM's
        combination, operation or use with devices, data, equipment, systems,
        programs or products not furnished by OTI or its subcontractors;

               b.     any duties or obligations of OTI arising out of or in
        connection with any License accruing prior to the Commencement Date, or
        arising out of or in connection with any Lease or Contract accruing
        prior to the Assumption Date, or any agreements relating to such Lease,
        License or Contract, subject to Section 3.2 and 3.3;

               c.     any amounts, including but not limited to, taxes, interest
        and penalties assessed against the IBM Indemnitees, which are
        obligations of OTI pursuant to Section 6.4;

               d.     any environmental claim arising out of this Agreement or a
        result of the Services performed at OTI facilities unless IBM has caused
        the environmental damage by actions unrelated to and unauthorized by
        this Agreement; and

               e.     any claim by a third party arising from a failure of OTI
        to obtain or pay for a Required Consent.

        13.3   CROSS INDEMNITY AND CONTRIBUTION

               Each Party agrees to contribute to the amount paid or payable by
the other Party for any and all Losses for which such Party is legally liable
and in proportion to such Party's comparative fault in causing such Losses,
arising in favor of any person, corporation or other entity including the
Parties hereto and their employees, contractors and agents, on account of bodily
injuries, death or damage to tangible personal or real property in any way
incident to, or in connection with or arising out of:

               a.     this Agreement;

               b.     the Services provided by IBM hereunder;

               c.     the presence of such Party, its employees, contractors or
        agents on the premises of the other Party; or

               d.     the negligent act or omission of such Party, its
        employees, contractors or agents.

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<PAGE>   38

        13.4   INDEMNIFICATION PROCEDURES

               a.     If any civil, criminal, administrative or investigative
        action or proceeding (any of the above being a "Claim") is commenced
        against any Party entitled to indemnification under Sections 13.1, 13.2
        or 13.3 (an "Indemnified Party"), written notice thereof shall be given
        to the Party that is obligated to provide indemnification under such
        Sections (the "Indemnifying Party") as promptly as practicable. After
        such notice, if the Indemnifying Party shall acknowledge in writing to
        such Indemnified Party that this Agreement applies with respect to such
        Claim, then the Indemnifying Party shall be entitled, if it so elects,
        in a written notice delivered to the Indemnified Party not fewer than 10
        days prior to the date on which a response to such Claim is due, to take
        control of the defense and investigation of such Claim and to employ and
        engage legal counsel of its sole choice to handle and defend the same,
        at the Indemnifying Party's sole cost and expense. The Indemnifying
        Party shall keep the Indemnified Party reasonably and timely apprised of
        the events of the defense and/or settlement (including, without
        limitation, the providing of copies of the relevant pleadings, other
        filings and settlement proposals) and shall give full consideration to,
        and be open to discussion of, the views and suggestions of the
        Indemnified Party (and/or its counsel) in proceeding with such defense
        and/or settlement. The Indemnified Party shall cooperate in all
        reasonable respects with the Indemnifying Party and its legal counsel in
        the investigation, trial and defense of such Claim and any appeal
        arising therefrom; provided, however, that the Indemnified Party may, at
        its own cost and expense, participate, through its legal counsel or
        otherwise, in such investigation, trial and defense of such Claim and
        any appeal arising therefrom. No settlement of a Claim shall be entered
        into:

               1.     which does not include as an unconditional term thereof
                      the giving by the claimant or plaintiff to the Indemnified
                      Party, of a release from liability in respect of such
                      Claim; and

               2.     in all instances in which the settlement includes a remedy
                      other than the payment of money by the Indemnifying Party,
                      without the consent of the Indemnified Party, which
                      consent will not be unreasonably withheld.

               b.     After notice by the Indemnifying Party to the Indemnified
        Party of its election to assume full control of the defense of any such
        Claim, the Indemnifying Party shall not be liable to the Indemnified
        Party for any legal expenses incurred thereafter by such Indemnified
        Party in connection with the defense of that Claim. If the Indemnifying
        Party does not assume full control over the defense of a Claim, the
        Indemnifying Party may participate in such defense, at its sole cost and
        expense, and the Indemnified Party shall have the right to defend the
        Claim in such manner as it may deem appropriate, at the cost and expense
        of the Indemnifying Party.

               c.     In addition, if any claim or cause of action referred in
        subsection 13.1(a) or 13.2(a) above is made against the Indemnified
        Party which occasions any material risk of an injunction against the
        Indemnified Party which would prevent IBM from delivering, or OTI
        receiving the Services, the Indemnifying Party will upon notice of the
        claim or cause of action and at no cost to the Indemnified Party,
        either:

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<PAGE>   39

               1.     obtain a license from the third party for the Indemnified
                      Party to continue providing or receiving the Services (as
                      the case may be) which shall come into effect no later
                      than the earliest effective date of any such injunction;
                      and/or

               2.     modify the equipment, systems, programs or products to
                      avoid such infringement, and use all diligent efforts
                      which are not unreasonable to complete such modifications
                      before any injunction precluding the use thereof can be
                      secured or come into effect, including securing the
                      assistance of Affiliates in so doing.

        13.5   SUBROGATION

               In the event that an Indemnifying Party shall be obligated to
indemnify an Indemnified Party pursuant to Sections 13.1, 13.2 or 13.3, the
Indemnifying Party shall, upon payment of such indemnity in full, be subrogated
to all rights of the Indemnified Party with respect to the claims and defenses
to which such indemnification relates.

        13.6   EXCLUSIVE REMEDY

               The indemnification rights of each Indemnified Party pursuant to
Sections 13.1, 13.2 or 13.3 shall be the exclusive remedy of such Indemnified
Party with respect to the claims to which such indemnification relates.

14.0    INSURANCE AND RISK OF LOSS

        14.1   INSURANCE

               When this Agreement requires performance by IBM's or OTI's
employees or subcontractors on the other Party's premises, the performing Party
shall carry and maintain worker's compensation insurance, or, if permitted by
applicable legislation, employer's liability insurance in lieu thereof, covering
its employees and subcontractors engaged in such performance in amounts no less
than required by law in the applicable location.

        14.2   RISK OF LOSS

               OTI is responsible for risk of loss of, or damage to, Machines
located on OTI's premises and any loss of or damage to Software in OTI's
possession at the time of such loss or damage. IBM is responsible for risk of
loss of, or damage to, Machines located on IBM's premises and any loss of or
damage to Software in IBM's possession at the time of such loss or damage.

15.0    PUBLICITY

        Each Party will submit to the other all advertising, written sales
promotion, press releases and other publicity matters relating to this Agreement
in which the other Party's name or mark is mentioned or language from which the
connection of said name or mark may be inferred or

                                       34
<PAGE>   40

implied, and will not publish or use such advertising, sales promotion, press
releases, or publicity matters without prior written approval of the other
Party. However, either Party may include the other Party's name and a factual
description of the work performed under this Agreement on employee bulletin
boards, in its list of references and in the experience section of proposals to
third parties, in internal business planning documents and in its annual report
to stockholders, and whenever required by reason of legal, accounting or
regulatory requirements.

16.0    REVIEW COMMITTEES/DISPUTE RESOLUTION

        16.1   JOINT ADVISORY COMMITTEE

               IBM and OTI agree to create a committee consisting of two people,
with the following titles, from each Party (the "Joint Advisory Committee"):

               a.     IBM

               1.     IBM Service Manager or Delivery Project Executive

               2.     IBM Project Executive

               b.     OTI

               1.     OTI Vice President Operations

               2.     OTI Project Executive

               The Joint Advisory Committee will:

               a.     conduct quarterly reviews of the progress on projects;

               b.     annually review the operating and strategic plans prepared
        by the IBM and OTI Project Executives;

               c.     review, on an annual basis, performance objectives and
        measurements;

               d.     provide advice and direction on technology changes; and

               e.     resolve disputes between the Parties.

        16.2   DISPUTE RESOLUTION

               Any dispute which cannot be resolved by the Joint Advisory
Committee will be referred to a Management Advisory Committee created by the
Parties which will consist of two people, with the following titles, from each
Party (the "Management Advisory Committee"):

               a.     IBM

               1.     IBM Project Executive

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<PAGE>   41

               2.     Vice President, Banking, Finance & Securities

               b.     OTI

               1.     Vice President Operations

               2.     Senior Executive Contact

               c.     The Management Advisory Committee shall deal with any
        dispute between the Parties either with respect to the interpretation of
        any provision of this Agreement or with respect to the performance by
        IBM or by OTI hereunder not resolved by the Joint Advisory Committee
        shall be resolved as specified in this Section 16.2.

               1.     Upon the written request of either Party, the Management
                      Advisory Committee will schedule a meeting as soon as
                      possible but in any event within 10 business days, for the
                      purpose of endeavoring to resolve such dispute.

               2.     The Management Advisory Committee shall meet as often as
                      necessary to gather and furnish to the other all
                      information with respect to the matter in issue which is
                      appropriate and germane in connection with its resolution.

               3.     The Management Advisory Committee shall discuss the
                      problem and negotiate in good faith in an effort to
                      resolve the dispute without the necessity of any formal
                      proceeding relating thereto.

               4.     During the course of such negotiation, all reasonable
                      requests made by one Party to the other for
                      nonconfidential information reasonably related to this
                      Agreement, will be honored in order that each of the
                      Parties may be fully advised of the other's position.

               5.     The specific format for such discussions will be left to
                      the discretion of the designated representatives but may
                      include the preparation of agreed-upon statements of fact
                      or written statements of position furnished to the other
                      Party.

               d.     If the Management Advisory Committee cannot resolve the
        dispute, then the dispute shall be escalated to the Chief Executive
        Officer of OTI and the General Manager, IBM Global Services, Canada, for
        their review and resolution. If the dispute cannot be resolved by such
        officers, then the Parties may initiate formal proceedings in the court
        with appropriate jurisdiction for the matter in controversy; however,
        formal proceedings for the judicial resolution of any such dispute may
        not be commenced until the earlier of:

               1.     the designated representatives concluding in good faith
                      that amicable resolution through continued negotiation of
                      the matter in issue does not appear likely; or

                                       36
<PAGE>   42

               2.     30 days after the initial request to negotiate such
                      dispute; or

               3.     30 days before the statute of limitations governing any
                      cause of action relating to such dispute would expire.

               e.     Each Party expressly waives any right it may have to a
        trial by jury in any formal proceeding arising hereunder.

               f.     The Parties agree that no written or oral statements of
        position or offers of settlement made in the course of the dispute
        resolution process described in paragraphs (c) and (d) above will be
        offered into evidence for any purpose in any litigation between the
        Parties, nor will any such written or oral statements or offers of
        settlement be used in any other manner against either Party in any such
        litigation. Further, no such written or oral statements or offers of
        settlement shall constitute an admission or waiver of rights by either
        Party in connection with any such litigation. At the request of either
        Party, any such written statements or offers of settlement, and all
        copies thereof, shall be promptly returned to the Party providing the
        same.

        16.3   CONTINUED PERFORMANCE

               Except where clearly prevented by the area in dispute or in the
event of non-payment by OTI of the charges herein, or a portion thereof, for two
months and subject to Section 10.3 of this Agreement, both Parties agree to
continue performing their respective obligations under this Agreement while the
dispute is being resolved unless and until such obligations are terminated or
expire in accordance with the provisions hereof.

17.0    GENERAL

        17.1   CONTROL OF SERVICES

               a.     This Agreement shall not be construed as constituting
        either Party as partner of the other or as creating any other form of
        legal association that would impose liability upon one Party for the act
        or failure to act of the other or as providing either Party with the
        right, power or authority (express or implied) to create any duty or
        obligation of the other Party.

               b.     Each Party shall be responsible for the management,
        direction and control of its employees and such employees shall not be
        employees of the other Party.

               c.     Except where this Agreement expressly provides that IBM
        will perform certain identified Services as agent for OTI, the Services
        will be under the control, management and supervision of IBM.

        17.2   RIGHT TO PERFORM SERVICES FOR OTHERS

               Each Party recognizes that IBM personnel providing Services to
OTI under this Agreement may, subject to the terms of the Confidentiality
Agreement, perform similar services

                                       37
<PAGE>   43

for others and this Agreement shall not prevent IBM from using the personnel and
equipment provided to OTI under this Agreement for such purposes. Each Party
recognizes that OTI personnel who are in receipt of IBM Confidential Information
may, subject to the terms of the Confidentiality Agreement, provide services
similar to the Services under this Agreement to OTI and this Agreement shall not
prevent OTI from using OTI personnel for such purposes.

               IBM may perform its obligations through its subsidiaries,
Affiliates or through the use of IBM-selected independent contractors; provided,
however, that IBM shall not be relieved of its obligations under this Agreement
by use of such subsidiaries, Affiliates or subcontractors.

        17.3   GEOGRAPHIC SCOPE OF SERVICES AND CURRENCY

               The Services provided under this Agreement are for Machines and
facilities located within Canada.

               Except where expressly stated otherwise, all amounts in this
Agreement are in Canadian dollars.

        17.4   AMENDMENTS AND REVISIONS

               Changes or modifications to this Agreement and its Schedules may
be made only by a written amendment or revision signed by both Parties. Changes
or modifications in any other form are void.

               Any terms and conditions varying from this Agreement and its
Schedules on any order or written notification from either Party not signed by
the other Party are void.

        17.5   FORCE MAJEURE

               a.     Neither Party shall be liable for any default or delay in
        the performance of its obligations hereunder:

               1.     if and to the extent such default or delay is caused,
                      directly or indirectly, by any cause beyond the reasonable
                      control of such Party; or

               2.     provided such default or delay could not have been
                      prevented by reasonable precautions and cannot reasonably
                      be circumvented by the nonperforming Party through the use
                      of commercially reasonable alternative sources,
                      work-around plans or other means,

               (individually, each being a "Force Majeure Event").

               b.     In such event, the nonperforming Party will be excused
        from any further performance or observance of the obligation(s) so
        affected for as long as such circumstances prevail and such Party
        continues to use commercially reasonable efforts to recommence
        performance or observance whenever and to whatever extent possible
        without delay. Any Party so delayed in its performance will immediately
        notify the other

                                       38
<PAGE>   44

        by telephone (to be confirmed in writing within five days of the
        inception of such delay) and describe at a reasonable level of detail
        the circumstances causing such delay.

               c.     If any Force Majeure Event substantially prevents,
        hinders, or delays performance of the Services necessary for the
        performance of OTI's critical functions for more than 30 consecutive
        days, then at OTI's option:

               1.     OTI may procure such Services from an alternate source and
                      cease to pay IBM charges for such Services and IBM will be
                      liable for reasonable amounts paid by OTI to procure such
                      Services to the extent such amounts are in excess of the
                      charges OTI would have otherwise paid to IBM under this
                      Agreement for equivalent Services (provided that the
                      excess amounts paid by OTI shall not include any charges
                      for disaster recovery services), for up to the lesser of
                      180 days or the remainder of the Term; or

               2.     OTI may terminate this Agreement as of a date specified by
                      OTI in a written notice of termination to IBM, and OTI
                      will pay IBM *.

               d.     This Section 17.5 does not limit or otherwise relieve
        OTI's obligation to pay any moneys due IBM under the terms of this
        Agreement.

        17.6   NONPERFORMANCE

               To the extent any nonperformance by either Party of its
nonmonetary obligations under this Agreement results from or is caused by the
other Party's failure to perform its obligations under this Agreement, such
nonperformance shall be excused.

        17.7   REMARKETING

               IBM understands and agrees that OTI is in the business of
providing services to third parties in the OptiMark Securities Trading Field and
that the Services are related to such business. Subject to the foregoing, OTI
may not remarket all or any portion of the Services provided under this
Agreement, or make all or any portion of the Services available to any party
other than OTI, without the prior written consent of IBM.

        17.8   WAIVER

               No exercise or waiver, in whole or in part, of any right or
remedy provided for in this Agreement shall constitute a waiver of any prior,
concurrent or subsequent right or remedy of the same or any other provisions
hereof.

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                       39
<PAGE>   45

        17.9   SEVERABILITY

               If any provision of this Agreement shall be held to be invalid,
illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby, and
such provision shall be deemed to be restated to reflect the original intentions
of the Parties as nearly as possible in accordance with applicable law(s).

        17.10  LIMITATIONS PERIOD

               Neither Party may bring an action, regardless of form, arising
out of this Agreement more than two years after the cause of action has arisen
or the date such cause of action was or should have been discovered.

        17.11  COUNTERPARTS

               This Agreement shall be executed in duplicate counterparts. Each
such counterpart shall be an original, and both together shall constitute but
one and the same document.

        17.12  GOVERNING LAW

               This Agreement shall be governed by the laws in effect in the
Province of Ontario.  The United Nations Convention on Contracts for the
International Sale of Goods shall not apply to this Agreement.

        17.13  SURVIVAL, BINDING NATURE AND ASSIGNMENT

               Any terms of this Agreement which by their nature extend beyond
its expiration or termination remain in effect until fulfilled. This Agreement
will be binding on the Parties and their respective successors and permitted
assigns. For purposes of this Agreement, a change in Control of a Party or a
sale of all or substantially all of the assets of a Party shall be deemed an
assignment of this Agreement, provided that a change in Control of OTI shall be
deemed an assignment only if the change results in OTI being controlled by a
competitor of IBM or its Affiliates.

               Neither Party may, or will have the power to, assign this
Agreement without the prior written consent of the other which will not be
unreasonably withheld, except that either Party may assign its rights and
obligations under this Agreement, without the approval of the other, to an
Affiliate which expressly assumes such Party's obligations and responsibilities
hereunder, provided that the assigning Party remains fully liable for and shall
not be relieved from the full performance of all obligations under this
Agreement. Any Party assigning its rights or obligations to an Affiliate in
accordance with this Agreement shall within a reasonable period following such
assignment, provide written notice thereof to the other Party together with a
copy of the assignment document. Notwithstanding the foregoing, IBM's rights to
payments under this Agreement shall be freely assignable without the consent of
OTI.

                                       40
<PAGE>   46

               Any attempted assignment that does not comply with the terms of
this Section shall be null and void. In the event a change in Control of OTI
results in OTI being controlled by a competitor of IBM or its Affiliates, IBM
may at IBM's sole option, and on reasonable notice to OTI, terminate this
Agreement and OTI shall pay IBM the Termination Charge and other amounts
specified in Section 10.1.

        17.14  NOTICES

               a.     Under this Agreement whenever one Party is required or
        permitted to give notice to the other, such notice will be deemed given
        when delivered by hand, one day after being given to an express courier
        with a reliable system for tracking delivery, or five days after the
        date of mailing, when mailed through Canada Post, registered or
        certified mail, return receipt requested, postage prepaid, or when sent
        by facsimile (with proof of transmission) and thereafter delivered by
        one of the foregoing methods of delivery.

               b.     Notifications will be addressed as follows:

               1.     For termination, breach or default, notify

               In the case of IBM:

               IBM Project Executive
               245 Consumers Road
               Toronto, Ont. M2J 1R3
               Facsimile:  (416) 490-4730

               with a copy to:

               IBM General Counsel
               3600 Steeles Avenue East
               Markham, Ont. L3R 9Z7

               2.     For all other notices:

               In the case of IBM:

               IBM Project Executive
               245 Consumers Road
               Toronto, Ont.  M2J 1R3
               Facsimile:  (416) 490-4730

               In the case of OTI:

               OTI Project Executive
               10 Exchange Place, 12th fl.
               Jersey City, NJ  07302
               Facsimile:  (201) 946-9413

                                       41
<PAGE>   47

               Either Party hereto may from time to time change its address for
notification purposes by giving the other prior written notice of the new
address and the date upon which it will become effective.

        17.15  NO THIRD-PARTY BENEFICIARIES

               Except as specified in Section 11 with respect to either Party's
contractors or subcontractors, the Parties do not intend, nor will any clause be
interpreted, to create for any third party any obligations to or benefit from
either IBM or OTI.

        17.16  OTHER DOCUMENTS

               On or after the Commencement Date and the date(s) of any
amendments or revisions hereto and at the request of the other Party, each Party
shall furnish to the other such certificate of its secretary, certified copy of
resolutions of its board of directors, or opinion of its counsel as shall
evidence that this Agreement or any amendment or revision hereto has been duly
executed and delivered on behalf of such Party.

               During the Term, and at the reasonable request of the other
Party, each Party shall furnish to the other a certificate stating that:

               1.     this Agreement is in full force and effect; and

               2.     the other Party is not materially in breach hereof at such
                      time.

               The Parties will execute and deliver or cause to be delivered
such further documents as may reasonably be required for the purposes of
assuring and confirming the rights hereby created or for facilitating the
performance of the terms of the Agreement.

        17.17  HEADINGS

               All headings herein and the table of contents are not to be
considered in the construction or interpretation of any provision of this
Agreement. This Agreement was drafted with the joint participation of both
Parties and shall be construed neither against nor in favor of either, but
rather in accordance with the fair meaning thereof. In the event of any apparent
conflicts or inconsistencies between this Agreement or any Schedules, Exhibits
or other Attachments to this Agreement, to the extent possible so as to make
them consistent, and if such is not possible, the provisions of this Agreement
shall prevail.

                                       42
<PAGE>   48

               THE PARTIES ACKNOWLEDGE THAT THEY HAVE READ THIS AGREEMENT,
UNDERSTAND IT, AND AGREE TO BE BOUND BY ITS TERMS AND CONDITIONS. FURTHER, THE
PARTIES AGREE THAT THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN
THE PARTIES RELATING TO THIS SUBJECT SHALL CONSIST OF 1) THIS AGREEMENT, AND 2)
ITS SCHEDULES, INCLUDING THOSE MADE EFFECTIVE BY THE PARTIES IN THE FUTURE. THIS
STATEMENT OF THE AGREEMENT SUPERSEDES ALL PROPOSALS OR OTHER PRIOR AGREEMENTS.

<TABLE>
<S>                                            <C>
Accepted by:                                   Accepted by:

IBM CANADA LIMITED                             OPTIMARK TECHNOLOGIES INC.

By /s/ Paul Richards                           By /s/ William Adiletta
   ----------------------------------            ---------------------------------
            Authorized Signature                          Authorized Signature

Paul Richards  May 6, 1999                     William Adiletta  May 6, 1999
-------------------------------------          -------------------------------------
        Name (Type or Print) and Date                 Name (Type or Print) and Date

3600 Steeles Avenue East                       10 Exchange Place, 12th fl.
-----------------------------                  -----------------------------
          Address                                        Address

Markham, Ontario                               Jersey City, N.J.
----------------------------------------       ------------------------------------
</TABLE>

                                       43
<PAGE>   49

IBM/OPTIMASK TECHNOLOGIES INC.

AGREEMENT FOR INFORMATION TECHNOLOGY SERVICES

                                   SCHEDULE A

<TABLE>
<CAPTION>
                                     APPLICATIONS SOFTWARE
---------------------------------------------------------------------------------------------------
                                        TANDEM K20012 OPS
---------------------------------------------------------------------------------------------------
ITEM NO.     VENDOR          APPLICATION NAME/DESCRIPTION                 RESPONSIBILITY
---------------------------------------------------------------------------------------------------
<S>        <C>       <C>                                           <C>       <C>     <C>      <C>
                                                                   OPER      FIN     MAINT    DEV
---------------------------------------------------------------------------------------------------
1          ISM       OPS/Order Processing System Version  2.6.2a   IBM       OTI     OTI      OTI
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                          TANDEM K20004
---------------------------------------------------------------------------------------------------
ITEM NO.     VENDOR          APPLICATION NAME/DESCRIPTION                 RESPONSIBILITY
---------------------------------------------------------------------------------------------------
<S>        <C>       <C>                                           <C>       <C>     <C>      <C>
                                                                   OPER      FIN     MAINT    DEV
---------------------------------------------------------------------------------------------------
1          TBD         To be determined (TBD)                      OTI       OTI     OTI      OTI
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                        DEC ALPHA 4100 DISTRIBUTION SERVER #1, #2, #3, #4
---------------------------------------------------------------------------------------------------
ITEM NO.     VENDOR          APPLICATION NAME/DESCRIPTION                 RESPONSIBILITY
---------------------------------------------------------------------------------------------------
<S>        <C>       <C>                                           <C>       <C>     <C>      <C>
                                                                   OPER      FIN     MAINT    DEV
---------------------------------------------------------------------------------------------------
1          ISM         Distribution Server Version 2.5.0.g         IBM       OTI     OTI      OTI
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                DEC ALPHA 4100 AUDIT SERVER #1, #2
---------------------------------------------------------------------------------------------------
ITEM NO.     VENDOR          APPLICATION NAME/DESCRIPTION                 RESPONSIBILITY
---------------------------------------------------------------------------------------------------
<S>        <C>       <C>                                           <C>       <C>     <C>      <C>
                                                                   OPER      FIN     MAINT    DEV
---------------------------------------------------------------------------------------------------
1          OTI         Audit Server Version 5.6.0.g                IBM/OTI   OTI     OTI      OTI
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                              DEC ALPHA 8400 MEC #1, #2, #3, #4, #5
---------------------------------------------------------------------------------------------------
ITEM NO.     VENDOR          APPLICATION NAME/DESCRIPTION                 RESPONSIBILITY
---------------------------------------------------------------------------------------------------
<S>        <C>       <C>                                           <C>       <C>     <C>      <C>
                                                                   OPER      FIN     MAINT    DEV
---------------------------------------------------------------------------------------------------
1          OTI         Matching Engine Complex Version 5.6.4.a     IBM       OTI     OTI      OTI
---------------------------------------------------------------------------------------------------
</TABLE>

Notes:

(1) "Oper" means Systems/Operations Responsibilities, as defined in Schedule E,
for the Application Software listed in this Schedule.

(2) "Fin" means financial responsibility for License fees, maintenance charges,
and any other related charges for the Application Software listed in this
Schedule.

(3) "Maint" means maintenance responsibility, including applying fixes,
corrections, and minor enhancements (but not necessarily the financial
responsibility for such) for the Application Software listed in this Schedule.

(4) "Dev" means development responsibility, including the programming of any;
regulatory/statutory mandated changes, version upgrades, or major enhancements
for the Application Software listed in this Schedule.

"TBD" means to be determined, the Application Name/Description and Vendor are
unknown at this time.

"OTI" means OptiMark Technologies Inc.

                                   Schedule A                                 44
<PAGE>   50

                                   SCHEDULE B

                                SYSTEMS SOFTWARE

B.1  SYSTEMS SOFTWARE SUPPLIED BY IBM

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                        TANDEM K20012 OPS
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      Tandem            SA73 Nonstop Kernel Version D43        IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    2      Tandem            SA57 Expand                            IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    3      Tandem            SA58 Nonstop TS/MP                     IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    4      Tandem            SA59 Pathway/TS                        IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    5      Tandem            SD20 TANDEM TCP/IP                     IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    6      Tandem            SD70 TCP/IP Lan Print Spooler          IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    7      Tandem 9255 K-    IBM                                    IBM     IBM     TBD     no
           Series C Compiler
---------------------------------------------------------------------------------------------------
    8      Tandem            9257 COBOL85 Nonstop System            IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    9      Tandem            9407 IXF-Host Software                 IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   10      Tandem            SA01 Basic Operations Management       IBM     IBM     TBD     no
                             Package
---------------------------------------------------------------------------------------------------
   11      Tandem            SE08 Nonstop VHS - Virtual Home        IBM     IBM     TBD     no
                             Terminal
---------------------------------------------------------------------------------------------------
   12      Tandem            SE05 Object Monitoring Facility (OMF)  IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   13      Tandem            SE04 EMS Analyzer                      IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   14      Tandem            9750 Safeguard                         IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   15      Tandem            SJ44 DSM/SCM-Central (DELPHI)          IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   16      Tandem            SA05 DSM/TC Dist. Sys Mgmt-Tape        IBM     IBM     TBD     no
                             Catalog
---------------------------------------------------------------------------------------------------
   17      Tandem            SA25 Security Event Exit (SEE)         IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   18      Tandem            SH80 Tim Kit For PC and Compatible     IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   19      Tandem            SJ80 Peer Networks Subagent Toolkit    IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   20      *                 *                                      IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
   21      *                 *                                      IBM     IBM     IBM     No
---------------------------------------------------------------------------------------------------
   22      *                 *                                      IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
</TABLE>

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                   Schedule B                                  1
                                 April 30, 1999

<PAGE>   51

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                          TANDEM K20004
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      Tandem            SA73 Nonstop Kernel Version D43        IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    2      Tandem            SA57 Expand                            IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    3      Tandem            SA58 Nonstop TS/MP                     IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    4      Tandem            SA59 Pathway/TS                        IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    5      Tandem            SD20 TANDEM TCP/IP                     IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    6      Tandem            SD70 TCP/IP Lan Print Spooler          IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    7      Tandem            9255 K-Series C Compiler               IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    8      Tandem            9257 COBOL85 Nonstop System            IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
    9      Tandem            9407 IXF-Host Software                 IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   10      Tandem            SA01 Basic Operations Management       IBM     IBM     TBD     no
                             Package
---------------------------------------------------------------------------------------------------
   11      Tandem            SE08 Nonstop VHS - Virtual Home        IBM     IBM     TBD     no
                             Terminal
---------------------------------------------------------------------------------------------------
   12      Tandem            SE05 Object Monitoring Facility (OMF)  IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   13      Tandem            SE04 EMS Analyzer                      IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   14      Tandem            9750 Safeguard                         IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   15      Tandem            SJ44 MSWSCM-Central (DELPHI)           IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   16      Tandem            SA05 DSM/TC Dist. Sys Mgmt-Tape        IBM     IBM     TBD     no
                             Catalog
---------------------------------------------------------------------------------------------------
   17      Tandem            SA25 Security Event Exit (SEE)         IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   18      Tandem            SH80 Tim Kit For PC and Compatible     IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   19      Tandem            SJ80 Peer Networks Subagent Toolkit    IBM     IBM     TBD     no
---------------------------------------------------------------------------------------------------
   20      *                 *                                      IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
   21      *                 *                                      IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
   22      *                 *                                      IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                      DEC ALPHA 8400 MEC #1
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      DEC               QA-MT4AA-H8 DEC UNIX Digital Alpha     IBM     IBM     IBM     no
                             Operating System Version 4.0B,
                             Licensed Binaries and documentation
                             on compact disk
---------------------------------------------------------------------------------------------------
    2      DEC               QB-5RYAQ-AA Storageworks software      IBM     IBM     IBM     no
                             plus package
---------------------------------------------------------------------------------------------------
    3      DEC               Digital UNIX base Advsvr license       IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
    4      DEC               Digital UNIX unlimited user license,   IBM     IBM     IBM     no
                             server extension license
---------------------------------------------------------------------------------------------------
    5      *                 *                                      IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
</TABLE>

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                   Schedule B                                  2
                                 April 30, 1999

<PAGE>   52

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                DEC ALPHA 8400 MEC #2, #3, #4, #5
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      DEC               DEC UNIX Digital Alpha Operating       IBM     IBM     IBM     no
                             System Version 4.0B
---------------------------------------------------------------------------------------------------
    2      DEC               QB-5RYAQ-AA Storageworks Software      IBM     IBM     IBM     no
                             plus package
---------------------------------------------------------------------------------------------------
    3      DEC               Digital UNIX base Advsvr license       IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
    4      DEC               Digital UNIX unlimited user license,   IBM     IBM     IBM     no
                             server extension license
---------------------------------------------------------------------------------------------------
    5      *                 *                                      IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                         DEC ALPHA 4100 AUDIT SERVER #1, AUDIT SERVER #2
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      DEC               DEC UNIX Digital UNIX version 4.0B     IBM     IBM     IBM     no
                             unlimited UNIX license, Serverworks
---------------------------------------------------------------------------------------------------
    2      DEC               QB-5JCAB-SA Storageworks Raid Array    IBM     IBM     IBM     no
                             Controller software 450 V5.1
---------------------------------------------------------------------------------------------------
    3      DEC               QB-5RYAG-AA Storageworks Software      IBM     IBM     IBM     no
                             Plus Package
---------------------------------------------------------------------------------------------------
    4      DEC               QB-05SAG-AA Trucluster avail. Server   IBM     IBM     IBM     no
                             for Digital UNIX Alpha (License and
                             Kit)
---------------------------------------------------------------------------------------------------
    5      DEC               QL-05SAB-AA Trucluster avail. Server   IBM     IBM     IBM     no
                             for Digital UNIX Alpha (Traditional
                             license)
---------------------------------------------------------------------------------------------------
    6      DEC               QA-05SAA-GZ Trucluster avail. Server   IBM     IBM     IBM     no
                             for Digital UNIX Alpha (Doc. Kit)
---------------------------------------------------------------------------------------------------
    7      DEC               QL-04UAL-3B Polycenter Network Save    IBM     IBM     IBM     no
                             and Restore (NSR) Jukebox 1
---------------------------------------------------------------------------------------------------
    8      *                 *                                      IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                             DEC ALPHA 4100 DISTRIBUTION SERVER #1, #2
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      DEC               DEC UNIX Digital UNIX version 4.0B     IBM     IBM     IBM     no
                             unlimited UNIX license, Serverworks
---------------------------------------------------------------------------------------------------
    2      DEC               QA-054AA-H8 UNIX Software Library      IBM     IBM     IBM     no
                             LP's cdrom
---------------------------------------------------------------------------------------------------
    3      DEC               QB- 5RYAG-AA Storageworks Software     IBM     IBM     IBM     no
                             Plus Package
---------------------------------------------------------------------------------------------------
    4      *                 *                                      IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
</TABLE>

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                   Schedule B                                  3
                                 April 30, 1999

<PAGE>   53

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                            DEC ALPHA 4100 DISTRIBUTION SERVER #3, #4
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      DEC               DEC UNIX Digital UNIX version 4.0B     IBM     IBM     IBM     no
                             unlimited UNIX license, Serverworks
---------------------------------------------------------------------------------------------------
    2      DEC               QA-054AA-H8 UNIX Software Library      IBM     IBM     IBM     no
                             LP's cdrom
---------------------------------------------------------------------------------------------------
    3      DEC               Q8-5RYAG-AA Storage works Software     IBM     IBM     IBM     no
                             Plus Package
---------------------------------------------------------------------------------------------------
    4      *                 *                                      IBM     IBM     IBM     no
---------------------------------------------------------------------------------------------------
</TABLE>

*

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                 OEM NETWORK MANAGEMENT SOFTWARE
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      Cisco Systems     IBM CISCO 2514 Firewall Routers -      IBM     IBM     IBM     no
           Inc.              Version 11.0(10)C
---------------------------------------------------------------------------------------------------
</TABLE>

*

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                   Schedule B                                  4
                                 April 30, 1999

<PAGE>   54

B.2  SYSTEMS SOFTWARE SUPPLIED BY OTI

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                    TANDEM K20012 PRODUCTION
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      *                 *                                      OTI     OTI     OTI     no
---------------------------------------------------------------------------------------------------
    2      *                 *                                      OTI     OTI     OTI     no
---------------------------------------------------------------------------------------------------
    3      Compaq            Non-stop Support Access for            IBM     OTI     OTI     OTI
                             Networking
---------------------------------------------------------------------------------------------------
    4      Shareware         Network Time Protocol (shareware       IBM     OTI     OTI     OTI
                             modified by OTI)
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                          TANDEM K20004
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      *                 *                                      OTI     OTI     OTI     no
---------------------------------------------------------------------------------------------------
    2      *                 *                                      OTI     OTI     OTI     no
---------------------------------------------------------------------------------------------------
    3      Compaq            Non-stop Support Access for            IBM     OTI     OTI     OTI
                             Networking
---------------------------------------------------------------------------------------------------
    4      Shareware         Network Time Protocol (shareware       IBM     OTI     OTI     OTI
                             modified by OTI)
---------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                  OTI NETWORK CONTROL EQUIPMENT
---------------------------------------------------------------------------------------------------
                                                                            RESPONSIBILITY
---------------------------------------------------------------------------------------------------
ITEM NO.        VENDOR             SOFTWARE NAME/DESCRIPTION        OPER    FIN     MAINT   DEV
---------------------------------------------------------------------------------------------------
<S>       <C>                <C>                                    <C>     <C>     <C>     <C>
    1      Cisco Systems     Cisco Catalyst Model 5513 - Software   IBM     OTI     OTI     no
           Inc.              Version 2.4(3) for switch and
                             11.2(7)P for the RSM blades
---------------------------------------------------------------------------------------------------
    2      Cisco Systems     Cisco Local Director - Software        IBM     OTI     OTI     no
           Inc.              Version 1.6.3
---------------------------------------------------------------------------------------------------
</TABLE>

Notes:

1 "Oper" means Systems/Operations Responsibilities, as defined in Schedule E,
for the System Software listed in this Schedule.

2 "Fin" means financial responsibility for License fees, maintenance charges,
and any other related charges for the System Software listed in this Schedule.

3 "Maint" means maintenance responsibility, including applying fixes,
corrections, and minor enhancements (but not necessarily the financial
responsibility for such) for the System Software listed in this Schedule.

4 "Dev" means development responsibility, including the programming of any
regulatory/statutory mandated changes, version upgrades, or major enhancements
for the Systems Software listed in this Schedule.

"TBD" means to be determined, the maintenance responsibility (financial charge)
has not been included in the Services at this time.

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                   Schedule B                                  5
                                 April 30, 1999

<PAGE>   55

"OTI" means OptiMark Technologies Inc.

                                   Schedule B                                  6
                                 April 30, 1999

<PAGE>   56

                                   SCHEDULE C

                            OTI MACHINES OWNED/LEASED

This Schedule lists the Machines that OTI owns, leases or rents and which IBM
"requires in order to provide the processing Services" under this Agreement.

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
                                        NETWORK EQUIPMENT
---------------------------------------------------------------------------------------------------
 ITEM NO.       MACHINE TYPE      MACHINE MODEL    MACHINE S/N     MACHINE LOCATION      NOTES
---------------------------------------------------------------------------------------------------
<S>       <C>                     <C>              <C>            <C>                    <C>
    1       Cisco Catalyst 5000   Model 5513            *         IBM Data Center          *
---------------------------------------------------------------------------------------------------
    2       Cisco Catalyst 5000   Model 5513            *         IBM Data Center          *
---------------------------------------------------------------------------------------------------
    3       Cisco Local Director                        *         IBM Data Center          *
---------------------------------------------------------------------------------------------------
    4       Cisco Local Director                        *         IBM Data Center          *
---------------------------------------------------------------------------------------------------
    5       Cisco 7500 Router     Model 7507            *         IBM Data Center          *
---------------------------------------------------------------------------------------------------
    6       Cisco 7500 Router     Model 7507            *         IBM Data Center          *
---------------------------------------------------------------------------------------------------
    7       Cisco 7500 Router     Model 7507            *         IBM Data Center          *
---------------------------------------------------------------------------------------------------
    8       Cisco 7500 Router     Model 7507            *         IBM Data Center          *
---------------------------------------------------------------------------------------------------
    9       Tellabs 8003 Power    Model 81-8003         *         IBM Data Center          *
            Rack Supply
---------------------------------------------------------------------------------------------------
    10      Telect Patch Panel                                    IBM Data Center          *
---------------------------------------------------------------------------------------------------
    11      Telco Modem Rack                                      IBM Data Center          *
---------------------------------------------------------------------------------------------------
    12      ADC Kentrox Power                           *         IBM Data Center          *
            72071
---------------------------------------------------------------------------------------------------
    13      Orion 4000/5                                *         IBM Data Center          *
            Broadband Access MUX
---------------------------------------------------------------------------------------------------
    14                            OR4K-MISC B-T         *         IBM Data Center          *
---------------------------------------------------------------------------------------------------
    15                            OR4K-DS1              *         IBM Data Center          *
---------------------------------------------------------------------------------------------------
    16      Motorola Modem        DDDS/MR64                       IBM Data Center          *
---------------------------------------------------------------------------------------------------
    17      Tellabs 8003 Power    Model 81-8003         *         IBM Data Center          *
            Rack Supply
---------------------------------------------------------------------------------------------------
    18      Telect Patch Panel                                    IBM Data Center          *
---------------------------------------------------------------------------------------------------
    19      Telco Modem Rack                                      IBM Data Center          *
---------------------------------------------------------------------------------------------------
    20      ADC Kentrox Power                           *         IBM Data Center          *
            72071
---------------------------------------------------------------------------------------------------
</TABLE>

---------------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                   Schedule C                                  1
                                 April 30, 1999

<PAGE>   57

<TABLE>
<CAPTION>

      <S>     <C>                                                           <C>            <C>                               <C>
       21      Orion 4000/5 Broadband Access MUX                             *              IBM Data Center                   *
       22                                          OR4K-MISC B-T             *              IBM Data Center                   *
       23                                          OR4K-DS1                  *              IBM Data Center                   *
       24      Motorola Modem                      DDDS/MR64                                IBM Data Center                   *
       25      Argus RSM Rectifier                                           *              IBM Data Center                   *
       26      Westell DS1 Mounting Rack           31M1-19                                  IBM Data Center                   *
       27      Tehtec Rectifier (Bell Telco)                                                IBM Data Center                   *
       28      Bell Modem Rack (T1)                                                         IBM Data Center                   *
       29      Bell Model Rack T1)                                                          IBM Data Center                   *
       30      Mactel FOTS-412                                                              IBM Data Center                   *
</TABLE>

OptiMark Equipment List

*           [7 pages of descriptions]

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule C
                                 April 30, 1999

<PAGE>   58

                                   SCHEDULE D

                      SERVICES MACHINES OWNED/LEASED BY IBM

This Schedule lists the Machines that IBM owns, leases or rents that are located
in the Data Center and are "required by IBM to provide the processing Services"
under this Agreement.

<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------------------------
                          MIDRANGE
------------------------------------------------------------------------------------------------------------------------------
    ITEM NO.             MACHINE TYPE           MACHINE MODEL     MACHINE S/N             MACHINE LOCATION          NOTES
------------------------------------------------------------------------------------------------------------------------------
        1            Tandem                    K20004                *                  IBM Data Center         see
                                                                                                                configuration
                                                                                                                below
------------------------------------------------------------------------------------------------------------------------------

Hardware                                                                             Equipment      Location
Vendor/Model (Feature Code)                                      Quantity             Provider      Provider
---------------------------                                      --------            ---------      --------

<S>           <C>                                               <C>                 <C>            <C>
Tandem         K20000 SERVER PKG, 4 PROC, 128MB EACH                 1                  IBM           IBM
ES24-256       SUBST, K20000,256MB FOR 128MB,SINGLE                  4                  IBM           IBM
7177D          DEL,CAB,MF-8 I/O,K10K/K20K PKG SYS                    1                  IBM           IBM
3615-0S        CNTRLR,HI-PERF,E-NET,W/O TRANS                        4                  IBM           IBM
7907-4         CAB,MULTICHANNEL O, 4 CHANNEL PAIRS                   1                  IBM           IBM
7159           PEDESTAL, MSS,FOR 455MOD                              1                  IBM           IBM
7158           FRAME,MSS,FOR 455MOD                                  1                  IBM           IBM
455MOD8        DISK MODULE, 8 SLOT                                   2                  IBM           IBM
4571-16        4GB DISK CRU 16 PACK                                  1                  IBM           IBM
3129           CONTROLLER,DISK,FOR 455MOD                            4                  IBM           IBM
F9-50          SUBST,F/O CBL,1 X 50M FOR 1 X 10M                     5                  IBM           IBM
7155           POWER STRIP,4 WAY, 60HZ 220V,W/4500                   2                  IBM           IBM
5175           TAPE DRIVE,1600/6250 BPI,MODULAR SYS                  1                  IBM           IBM
3214           CONTROLLER,TAPE,DEDICATED,COPPER                      1                  IBM           IBM
517-050        SUBST,CBL,50'- FOR DEF,516X/517X,5410                 1                  IBM           IBM
3216           CONTROLLER,FIBRE OPTIC,519X                           1                  IBM           IBM
5196ACL        TAPE,SUBSYS,CARTRIDGE IN MOSAIC,ACL                   1                  IBM           IBM
5194ACL        TAPE,SUBSYS,CARTRIDGE CRU WTH ACL                     1                  IBM           IBM
3606-1         CNTRLR COMM, 16 LINE ASYNC W/RS-232                   1                  IBM           IBM
3605-1         CONTRLR COMM, 4 LINE SYNC W/RS-232                    1                  IBM           IBM
3601           CNTRLR,LINE PRINTER/UNIV INTERFACE                    1                  IBM           IBM
KC14           STANDARD SYSTEM CONSOLE 15" MON                       1                  IBM           IBM
361-0S         SUBST, 3615-0 FOR 3615-1                              1                  IBM           IBM
517-010W       CBL,COPPER,516X/517X,5410,10'                         1                  IBM           IBM
------------------------------------------------------------------------------------------------------------------------------

</TABLE>

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule D
                                 April 30, 1999

                                                                            1
<PAGE>   59

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                                           MIDRANGE
---------------------------------------------------------------------------------------------------------------------------------
    ITEM NO.         MACHINE TYPE         MACHINE MODEL           MACHINE S/N              MACHINE LOCATION            NOTES
---------------------------------------------------------------------------------------------------------------------------------
        2           Tandem               K20012 OPS                    *                IBM Data Center            see
                                                                                                                   configuration
                                                                                                                   below
---------------------------------------------------------------------------------------------------------------------------------

Hardware                                                                         Equipment           Location
Vendor/Model (Feature Code)                                        Quantity      Provider            Provider
---------------------------                                        --------      ---------           --------

<S>           <C>                                                 <C>           <C>                 <C>
Tandem         K20000 SERVER PKG, 12 PROC, 128MB EACH                        1            IBM                 IBM
ES24-256       SUBST, K20000,256MB FOR 128MB,SINGLE                         12            IBM                 IBM
7177D          DEL,CAB,MF-8 I/O,K10K/K20K PKG SYS                            1            IBM                 IBM
3615-0         CNTRLR,HI-PERF,E-NET,W/O TRANS                                7            IBM                 IBM
7907-4         CAB,MULTICHANNEL I/O, 4 CHANNELPAIRS                          2            IBM                 IBM
7907-2         CAB MULTICHANNEL I/O                                          2            IBM                 IBM
7159           PEDESTAL, MSS,FOR 455MOD                                      6            IBM                 IBM
7158           FRAME,MSS,FOR 455MOD                                          1            IBM                 IBM
455MOD8        DISK MODULE, 8 SLOT                                           6            IBM                 IBM
4571-16        4GB DISK CRU 16 PACK                                         12            IBM                 IBM
3129           CONTROLLER, DISK,FOR 455MOD                                  12            IBM                 IBM
F9-50          SUBST,F/O CBL,1 X 50M FOR 1 X 10M                             6            IBM                 IBM
7155           POWER STRIP,4 WAY, 60HZ 220V,W/4500                           1            IBM                 IBM
5175           TAPE DRIVE,1600/6250 BPI,MODULAR SYS                          1            IBM                 IBM
3214           CONTROLLER,TAPE,DEDICATED,COPPER                              1            IBM                 IBM
517-050        SUBST,CBL,50' FOR DEF,516X/517X,5410                          1            IBM                 IBM
3216           CONTROLLER,FIBRE OPTIC,519X                                   1            IBM                 IBM
5196ACL        TAPE,SUBSYS,CARTRIDGE IN MOSAIC,ACL                           1            IBM                 IBM
5194ACL        TAPE,SUBSYS,CARTRIDGE CRU WTH ACL                             1            IBM                 IBM
3606-1         CNTRLR COMM, 16 LINE ASYNC W/RS-232                           1            IBM                 IBM
3605-1         CONTRLR COMM, 4 LINE SYNC W/RS-232                            1            IBM                 IBM
3601           CNTRLR,LINE PRINTER/UNIV INTERFACE                            1            IBM                 IBM
KC14           STANDARD SYSTEM CONSOLE 15" MON                               1            IBM                 IBM
361-0S         SUBST, 3615-0 FOR 3615-1                                      1            IBM                 IBM
517-010W       CBL,COPPER,516X/517X,5410,10'                                 1            IBM                 IBM
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule D
                                 April 30, 1999

                                                                            2
<PAGE>   60

<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------------------------------
                                                                 MIDRANGE
----------------------------------------------------------------------------------------------------------------------------------
    ITEM NO.         MACHINE TYPE              MACHINE MODEL     MACHINE S/N              MACHINE LOCATION               NOTES
----------------------------------------------------------------------------------------------------------------------------------
        3        DEC Alpha 8400 MEC #1    DA-292FF-CA                *              IBM Data Center                  see
                                                                                                                     configuration
                                                                                                                     below
----------------------------------------------------------------------------------------------------------------------------------

Hardware                                                                             Equipment             Location
Vendor/Model (Feature Code)                                           Quantity        Provider             Provider
---------------------------                                           --------       ---------             --------

<S>                                                                  <C>            <C>                    <C>
Dec Cabinet # 1 (Alpha 8400)
----------------------------

DA-292FF-CA ALPHASERVER 8400/8500 5/625
     DUAL PROC. SYSTEM                                                    1             IBM                   IBM
756P2-AX ALPHASERVER 8000 DUAL PROCESSOR
     5/625 SMP UPGRADE                                                    6             IBM                   IBM
DWLPB-AA 12 SLOT PCI PLUG IN UNIT:
     ALPHASERVER 8400 MAIN CAB.                                           1             IBM                   IBM
DS-RZ1CB-VW ULTRASCSI DISK DRIVE                                          3             IBM                   IBM
BN21K-03 SCSI-3 3 METER STANDARD "P"
     CABLE-68 CONDUCTORS                                                  1             IBM                   IBM
DE500-AA FAST ETHERWORKS PCI 10/100
     NETWORK INTERFACE CARD                                               2             IBM                   IBM
TLZ09-VA 4/8 GB 4MM SCSI DAT TAPE DRIVE,
     SBB                                                                  1             IBM                   IBM
VT510-AA PC TEXT TERMINAL, SINGLE
     SESSION, MONOCHROME                                                  1             IBM                   IBM
LK47W-A2 PS/2 STYLE KEYBOARD                                              1             IBM                   IBM
BA35X-HG 150-W 48-V DC INPUT POWER SUPPLY                                 2             IBM                   IBM
H7263-AC 3 PHASE POWER REGULATOR W/O
     BATTERY B/U FEATURE                                                  2             IBM                   IBM
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule D
                                 April 30, 1999

                                                                            3
<PAGE>   61

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                                                    MIDRANGE
----------------------------------------------------------------------------------------------------------------------------------
    ITEM NO.        MACHINE TYPE                MACHINE MODEL       MACHINE S/N            MACHINE LOCATION            NOTES
----------------------------------------------------------------------------------------------------------------------------------
        4       DEC Alpha 8400 MEC # 2      DA-292FF-CA                  *               IBM Data Center             see
                                                                                                                     configuration
                                                                                                                     below
----------------------------------------------------------------------------------------------------------------------------------

Hardware                                                                           Equipment             Location
Vendor/Model (Feature Code)                                           Quantity      Provider             Provider
---------------------------                                           --------      --------             ---------

Dec Cabinet # 2 (Alpha 8400)
----------------------------

<S>                                                                  <C>          <C>                   <C>
DA-292FF-CA ALPHASERVER 8400/8500 5/625
     DUAL PROC. SYSTEM                                                    1           IBM                  IBM
756P2-AX ALPHASERVER 8000 DUAL PROCESSOR
     5/625 SMP UPGRADE                                                    6           IBM                  IBM
DWLPB-AA 12 SLOT PCI PLUG IN UNIT:
     ALPHASERVER 8400 MAIN CAB.                                           1           IBM                  IBM
DS-RZ1CB-VW ULTRASCSI DISK DRIVE                                          3           IBM                  IBM
BN21K-03 SCSI-3 3 METER STANDARD "P"
     CABLE-68 CONDUCTORS                                                  1           IBM                  IBM
DE500-AA FAST ETHERWORKS PCI 10/100
     NETWORK INTERFACE CARD                                               2           IBM                  IBM
TLZ09-VA 4/8 GB 4MM SCSI DAT TAPE DRIVE,
     SBB                                                                  1           IBM                  IBM
VT510-AA PCTEXT TERMINAL, SINGLE
     SESSION, MONOCHROME                                                  1           IBM                  IBM
LK47W-A2 PS/2 STYLE KEYBOARD                                              1           IBM                  IBM
BA35X-HG 150-W 48-V DC INPUT POWER SUPPLY                                 2           IBM                  IBM
H7263-AC 3 PHASE POWER REGULATOR W/O
     BATTERY B/U FEATURE                                                  2           IBM                  IBM
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule D
                                 April 30, 1999

                                                                            4
<PAGE>   62

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                                                   MIDRANGE
---------------------------------------------------------------------------------------------------------------------------------
    ITEM NO.          MACHINE TYPE             MACHINE MODEL            MACHINE S/N        MACHINE LOCATION            NOTES
---------------------------------------------------------------------------------------------------------------------------------
        5         DEC Alpha 8400 MEC # 3    DA-292FF-CA                      *          IBM Data Center             see
                                                                                                                    configuration
                                                                                                                    below
---------------------------------------------------------------------------------------------------------------------------------

Hardware                                                                                Equipment          Location
Vendor Model (Feature Code)                                                 Quantity     Provider          Provider
---------------------------                                                 --------    ----------         --------

Dec Cabinet # 3 (Alpha 8400)
----------------------------

<S>                                                                        <C>         <C>               <C>
DA-292FF-CA ALPHASERVER 8400/8500 5/625
     DUAL PROC. SYSTEM                                                          1          IBM                IBM
756P2-AX ALPHASERVER 8000 DUAL PROCESSOR
     5/625 SMP UPGRADE                                                          6          IBM                IBM
DWLPB-AA 12 SLOT PCI PLUG IN UNIT:
     ALPHASERVER 8400 MAIN CAB.                                                 1          IBM                IBM
DS-RZ1CB-VW ULTRASCSI DISK DRIVE                                                3          IBM                IBM
BN21K-03 SCSI-3 3 METER STANDARD "P"
     CABLE-68 CONDUCTORS                                                        1          IBM                IBM
DE500-AA FAST ETHERWORKS PCI 10/100
     NETWORK INTERFACE CARD                                                     2          IBM                IBM
TLZ09-VA 4/8 GB 4MM SCSI DAT TAPE DRIVE,
     SBB                                                                        1          IBM                IBM
VT510-AA PCTEXT TERMINAL, SINGLE
     SESSION, MONOCHROME                                                        1          IBM                IBM
LK47W-A2 PS/2 STYLE KEYBOARD                                                    1          IBM                IBM
BA35X-HG 150-W 48-V DC INPUT POWER SUPPLY                                       2          IBM                IBM
H7263-AC 3 PHASE POWER REGULATOR W/O
     BATTERY B/U FEATURE                                                        2          IBM                IBM
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule D
                                 April 30, 1999

                                                                            5
<PAGE>   63

<TABLE>
<CAPTION>

---------------------------------------------------------------------------------------------------------------------------------
                                                            MIDRANGE
---------------------------------------------------------------------------------------------------------------------------------
    ITEM NO.      MACHINE TYPE              MACHINE MODEL        MACHINE S/N               MACHINE LOCATION           NOTES
---------------------------------------------------------------------------------------------------------------------------------
        6      DEC Alpha 8400 MEC # 4     DA-292FF-CA                *             IBM Data Center                  see
                                                                                                                    configuration
                                                                                                                    below
---------------------------------------------------------------------------------------------------------------------------------

Hardware                                                                          Equipment             Location
Vendor/Model (Feature Code)                                       Quantity         Provider             Provider
---------------------------                                       --------        ---------             ---------

Dec Cabinet # 4 (Alpha 8400)
----------------------------

<S>                                                             <C>              <C>                   <C>
DA-292FF-CA ALPHASERVER 8400/8500 5/625
     DUAL PROC. SYSTEM                                                1              IBM                   IBM
756P2-AX ALPHASERVER 8000 DUAL PROCESSOR
     5/625 SMP UPGRADE                                                6              IBM                   IBM
DWLPB-AA 12 SLOT PCI PLUG IN UNIT:
     ALPHASERVER 8400 MAIN CAB.                                       1              IBM                   IBM
DS-RZ1CB-VW ULTRASCSI DISK DRIVE                                      3              IBM                   IBM
BN21K-03 SCSI-3 3 METER STANDARD "P"
     CABLE-68 CONDUCTORS                                              1              IBM                   IBM
DE500-AA FAST ETHERWORKS PCI 10/100
     NETWORK INTERFACE CARD                                           2              IBM                   IBM
TLZ09-VA 4/8 GB 4MM SCSI DAT TAPE DRIVE,
     SBB                                                              1              IBM                   IBM
VT510-AA PC TEXT TERMINAL, SINGLE
     SESSION, MONOCHROME                                              1              IBM                   IBM
LK47W-A2 PS/2 STYLE KEYBOARD                                          1              IBM                   IBM
BA35X-HG 150-W 48-V DC INPUT POWER SUPPLY                             2              IBM                   IBM
H7263-AC 3 PHASE POWER REGULATOR W/O
     BATTERY B/U FEATURE                                              2              IBM                   IBM
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule D
                                 April 30, 1999

                                                                            6
<PAGE>   64

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                                             MIDRANGE
---------------------------------------------------------------------------------------------------------------------------------
    ITEM NO.       MACHINE TYPE             MACHINE MODEL        MACHINE S/N           MACHINE LOCATION                 NOTES
---------------------------------------------------------------------------------------------------------------------------------
        7      DEC Alpha 8400 MEC # 5     DA-292FF-CA                 *             IBM Data Center                 see
                                                                                                                    configuration
                                                                                                                    below
---------------------------------------------------------------------------------------------------------------------------------

Hardware                                                                           Equipment             Location
Vendor/Model (Feature Code)                                        Quantity         Provider             Provider
---------------------------                                        --------        ---------             --------

Dec Cabinet # 5 (Alpha 8400)
----------------------------

<S>                                                               <C>             <C>                   <C>
DA-292FF-CA ALPHASERVER 8400/8500 5/625
     DUAL PROC. SYSTEM                                                 1              IBM                   IBM
756P2-AX ALPHASERVER 8000 DUAL PROCESSOR
     5/625 SMP UPGRADE                                                 6              IBM                   IBM
DWLPB-AA 12 SLOT PCI PLUG IN UNIT:
   ALPHASERVER 8400 MAIN CAB.                                          1              IBM                   IBM
DS-RZ1CB-VW ULTRASCSI DISK DRIVE                                       3              IBM                   IBM
BN21K-03 SCSI-3 3 METER STANDARD "P"
  CABLE-68 CONDUCTORS                                                  1              IBM                   IBM
DE500-AA FAST ETHERWORKS PCI 10/100
     NETWORK INTERFACE CARD                                            2              IBM                   IBM
TLZ09-VA 4/8 GB 4MM SCSI DAT TAPE DRIVE,
     SBB                                                               1              IBM                   IBM
VT510-AA PCTEXT TERMINAL, SINGLE
     SESSION, MONOCHROME                                               1              IBM                   IBM
LK47W-A2 PS/2 STYLE KEYBOARD                                           1              IBM                   IBM
BA35X-HG 150-W 48-V DC INPUT POWER SUPPLY                              2              IBM                   IBM
H7263-AC 3 PHASE POWER REGULATOR W/O

     BATTERY B/U FEATURE                                               2              IBM                   IBM
------------------------------------------------------------------------------- -------------------------------------------------
</TABLE>

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule D
                                 April 30, 1999

                                                                            7
<PAGE>   65

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                                              MIDRANGE
---------------------------------------------------------------------------------------------------------------------------------
    ITEM NO.        MACHINE TYPE             MACHINE MODEL         MACHINE S/N             MACHINE LOCATION          NOTES
---------------------------------------------------------------------------------------------------------------------------------
        8       DEC Alpha 4100  X#2        DA-51-JAB-EB                   *               IBM Data Center           see
                Audit Server # 1, #2                                                                                configuration
                                                                                                                    below
---------------------------------------------------------------------------------------------------------------------------------

Hardware                                                                            Equipment            Location
Vendor/Model (Feature Code)                                          Quantity       Provider             Provider
---------------------------                                          --------       ---------            --------

Dec Cabinet # 6 (Alpha 4100)
----------------------------

<S>                                                                 <C>             <C>                 <C>
DA-51JAB-EB ALPHASERVER 4100 5/466 DRAWER -
     DIGITAL UNIX                                                        2             IBM                  IBM
H9A10 EL ALHPASERVER 4000/4100 RETMA
     CABINET                                                             1             IBM                  IBM
CK-BA30A-BA RM KIT FOR ALPHASERVER 4100                                  2             IBM                  IBM
KN304-DB ALPHA 4100/4000 466 MHZ DIGITAL
  UNIX SMP UPGRADE                                                       6             IBM                  IBM
H7291-AA AS4XXX 450 WATT POWER SUPPLY                                    2             IBM                  IBM
DE500-AA FAST ETHERWORKS PCI 10/100
     NETWORK INTERFACE CARD                                              2             IBM                  IBM
SN-VRCX5-WA 15"AUTO-SCANNING COLOR
     MONITOR                                                             2             IBM                  IBM
BA36R-RA STORAGEWORKS SHELF/RETMA 7
     DEVICE                                                              4             IBM                  IBM
BN21H-02 2 METER CABLE (SCSI-2 HIGH DENSITY)                             4             IBM                  IBM
BA35X-HF UNIVERSAL AC POWER SUPPLY (150 W)                               6             IBM                  IBM
HSZ52-AF STORAGEWORKS 64MB DUAL SCSI
     ARRAY CONTROLLERS                                                   1             IBM                  IBM
BA35R-MR RACKMOUNT BA35R-MA, STORAGE
     CONTROLLER SHELF                                                    1             IBM                  IBM
KZPSA-BB STORAGE PCI HOST BUS ADAPTER
     (FWD)                                                               2             IBM                  IBM
DS-RZ1CB-VW ULTRASCSI DISK DRIVE                                        25             IBM                  IBM
H879-AA SCSI-3 TERMINATOR 68 PIN MALE
     CONNECTOR                                                           2             IBM                  IBM
BA35X-ME ACTIVE TERMINATOR, 16-BIT, SCSI-2
     FOR BA346/BA345                                                     1             IBM                  IBM
BN21K-02 SCSI-3 2.0 METER STANDARD 'P"
     CABLE-68 CONDUCTORS                                                 2             IBM                  IBM
TZ885-NT 100-GB SCSI TAPE SUBSYSTEM FIVE
     CARTRIDGE LOADER                                                    2             IBM                  IBM
TK875-MA MAGAZINE FOR FIVE CARTRIDGE DLT
     LOADER                                                              2             IBM                  IBM
KZPDA-AA DIGITAL FAST, WIDE, SINGLE-ENDED
     SCSI CONTROLLER                                                     2             IBM                  IBM
B21M-05 CABLE, SCSI-2 5.0 M ADAPTER "A", 50
     CONDUCTORS                                                          2             IBM                  IBM
2T-H7085-BC 4 PORT TABLETOP MASTER
     CONSOLE                                                             1             IBM                  IBM
2T-H7085-20, 20' SPLIT VGA CABLE                                         2             IBM                  IBM
2T-H7085-10, 10' SPLIT VGA CABLE                                         1             IBM                  IBM
DSRVZ-MC DECSIERVER 900TM ACCESS SERVER                                  1             IBM                  IBM
DEHUA-CA SINGLE SLOT DECHUB - ETHERNET
     WITH AUI CONNECTOR                                                  1             IBM                  IBM
H0345-AA 2MG FLASH CARD                                                  1             IBM                  IBM
20-41141-05 SIMM 1 QUAD CAS 9 CHIPS 80 NS                                1             IBM                  IBM
BN25G-03 CABLE ASSEMBLY, 3 METER                                         9             IBM                  IBM
LN17N-CA.LN17PS LASER PRINTER                                            1             IBM                  IBM
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule D
                                 April 30, 1999

                                                                            8
<PAGE>   66

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                                                     MIDRANGE
----------------------------------------------------------------------------------------------------------------------------------
    ITEM NO.         MACHINE TYPE                  MACHINE MODEL       MACHINE S/N           MACHINE LOCATION         NOTES
----------------------------------------------------------------------------------------------------------------------------------
       9         DEC Alpha 4100  X 2           DA-51-JAB-EB                  *             IBM Data Center           see
                 Distribution Server # 1,                                                                            configuration
                 # 2                                                                                                 below
----------------------------------------------------------------------------------------------------------------------------------

Hardware                                                                                 Equipment      Location
Model/Feature Code                                                       Quantity        Provider       Provider
-------------------                                                      --------        ---------      --------

Dec Cabinet # 7 (Alpha 4100)
----------------------------

<S>                                                                     <C>            <C>             <C>
DA-51JAB-EB ALPHASERVER 4100 5/466 DRAWER -
     DIGITAL UNIX                                                            2              IBM            IBM
H9A10-EL ALHPASERVER 4000/4100 RETMA
     CABINET                                                                 1              IBM            IBM
BA35X-HF UNIVERSAL AC POWER SUPPLY                                           1              IBM            IBM
TLZ09 4MM DAT TAPE DRIVE 4/8 GB                                              2              IBM            IBM
CK-BA30A-BA RM KIT FOR ALPHASERVER 4100                                      2              IBM            IBM
KN304-DB ALPH 4100/4000 466 MHZ DIGITAL UNIX
     SMP UPGRADE                                                             6              IBM            IBM
H7291-AA AS4XXX 450 WATT POWER SUPPLY                                        2              IBM            IBM
DE600-AA FAST ETHERWORKS PCI 10/100
     NETWORK INTERFACE CARD                                                  2              IBM            IBM
SN-VRCX5-WA 15' AUTO-SCANNING COLOR
     MONITOR                                                                 2              IBM            IBM
DWZZB-VW SCSI-2 CONVERTER, 16 BIT, 20 MB, 68
     PIN "P" CONNECTOR                                                       5              IBM            IBM
BN27S-03 POWER CORD 3 METERS                                                 8              IBM            IBM
BA36R-RA STORAGEWORKS SHELF/RETMA 7
     DEVICE                                                                  2              IBM            IBM
BN21 N-02 2 METER CABLE (SCSI-2 HIGH
     DENSITY), "A" CABLE                                                     4              IBM            IBM
BA35X-ME ACTIVE TERMINATOR, 16 BIT, SCSI-2
     FOR BA346/BA356                                                         1              IBM            IBM
DS-RZICB-VW ULTRASCSI DISK DRIVE                                             7              IBM            IBM
BA35X-MG 8-BIT I/O MODULE FOR BA356 SHELF                                    4              IBM            IBM
KZPAA-AA PCI TO SCSI HOST BUS ADPATER                                        2              IBM            IBM
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule D
                                 April 30, 1999

                                                                            9
<PAGE>   67

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                                             MIDRANGE
---------------------------------------------------------------------------------------------------------------------------------
    ITEM NO.       MACHINE TYPE                MACHINE MODEL      MACHINE S/N          MACHINE LOCATION               NOTES
---------------------------------------------------------------------------------------------------------------------------------
        10     DEC Alpha 4100  X 2         DA-51-JAB-EB               *            IBM Data Center                  see
               Distribution Server # 3,                                                                             configuration
               # 4                                                                                                  below
---------------------------------------------------------------------------------------------------------------------------------

Hardware                                                                              Equipment      Location
Model/Feature Code                                                 Quantity           Provider       Provider
-------------------                                                --------           ---------      --------

Dec Cabinet # 8 (Alpha 4100)
----------------------------

<S>                                                                     <C>               <C>            <C>
DA-51 KAC-EB, ALPHASERVER 4100 5/533
     DRAWER - DIGITAL UNIX                                                  2                 IBM           IBM
H9A10-EF, CABINET, 1.7M X 600MM X 900MM                                     1                 IBM           IBM
CK-BA30A-BA, RM KIT FOR ALPHASERVER 4100                                    2                 IBM           IBM
KN305-DB, ALPHASERVER 4100/4000 533 MHZ SMP
     UPGRADE                                                                6                 IBM           IBM
H7291-AA, AS4XXX 450 WATT POWER SUPPLY                                      4                 IBM           IBM
DE500-AA, FAST ETHERWORKS PCI 10/100
     NETWORK INTERFACE CARD                                                 4                 IBM           IBM
BA36R-RD, ASVR 4X00 ULTRA SCSI
     STORAGEWORKS SHELF                                                     2                 IBM           IBM
CK-BA35X-HH, RH ULTRA SCSI SHELF POWER
     SUPPLY                                                                 2                 IBM           IBM
BN38C-02, ULTRA 68VHD/6HD 2M CABLE                                          2                 IBM           IBM
TLZ09-VA, 8 GB MM SCSI DAT TAPE DRIVE                                       2                 IBM           IBM
TLZ07-CB, FIVE-PAK DAT TAPE CARTRIDGES,
     4MM                                                                    6                 IBM           IBM
DS-RZ1,CB-VW ULTRASCSI DISK DRIVE                                           6                 IBM           IBM
BN21N-02, SGSI-2 2.0 M "A" CABLE                                            2                 IBM           IBM
KZPAA-AA, PCI TO SCSI HOST BUS ADAPTER                                      2                 IBM           IBM
BX35X-ME, ACTIVE TERMINATOR                                                 1                 IBM           IBM
BA36R-RA, STORAGEWORKS SHELF/RETMA 7
     DEVICE SHELF                                                           1                 IBM           IBM
2T-H7086-BC, 4 PORT TABLE TOP MASTER
     CONSOLE SWITCH                                                         1                 IBM           IBM
2T-H7085-20, 20' SPLIT VGA CABLE                                            2                 IBM           IBM
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
*

-------------------------------
* This confidential portion has been omitted and file separtely with the
  Commision.

                                   Schedule D
                                 April 30, 1999
                                                                           10
<PAGE>   68

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                                          NETWORK EQUIPMENT
---------------------------------------------------------- ------------------------------------------------------------------------
    ITEM NO.       MACHINE TYPE                 MACHINE MODEL         MACHINE S/N      MACHINE LOCATION          NOTES
-----------------------------------------------------------------------------------------------------------------------------------
        1         True Time                   Model 600-301               *           IBM Data Center              *
-----------------------------------------------------------------------------------------------------------------------------------

<S>                 <C>
Model 600-301-NTS-100 Network Time Server
FOL-100 Fiber Optic Antenna Link
Model # 144-692 Fiber Optic Link, Serial # 97191896
-----------------------------------------------------------------------------------------------------------------------------------
        2          True Time                  Model 699-401               *           IBM Data Center              *
-----------------------------------------------------------------------------------------------------------------------------------
Model 600-401 Network Time Server
Model 150 MAU-T-10BaseT Option
-----------------------------------------------------------------------------------------------------------------------------------
        3          True Time                                                          IBM Data Center      IBM provides maintenance
-----------------------------------------------------------------------------------------------------------------------------------
Model 140-014-TNC Lightning Arrestor
Model 151-160 12VDC power supply
Model 142-401 Antenna Down converter
Model 600-301DI Down converter infrastructure
-----------------------------------------------------------------------------------------------------------------------------------
        4          Lynx Com Cabinet                                                   IBM Data Center
-----------------------------------------------------------------------------------------------------------------------------------
Communications cabinet (x15), Shelf (x15)
-----------------------------------------------------------------------------------------------------------------------------------
        5          Cisco 2500 Router          Model 2514                  *           IBM Data Center      IBM provides maintenance
------------------------------------------------------------------------------------------------------------------------ ----------
        6          Cisco 2500 Router          Model 2514                  *           IBM Data Center      IBM provides maintenance
-----------------------------------------------------------------------------------------------------------------------------------
        7          IBM 8224-002 16 port hub   Model 002                   *           IBM Data Center              *
-----------------------------------------------------------------------------------------------------------------------------------
        8          IBM 8224-002 16 port hub   Model 002                   *           IBM Data Center              *
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

-------------------------
* This confidential portion as been omitted and filed separately with the
  Commission.

                                   Schedule D
                                 April 30, 1999

                                                                           11
<PAGE>   69

                                   SCHEDULE E

                      SUPPORT SERVICES AND SERVICE LEVELS

SECTION E-1

SUPPORT SERVICES

1.0         INTRODUCTION

This Section E-1 describes the duties and responsibilities of IBM and OTI
related to IBM's provision of the Services. IBM will provide the Services in
accordance with the Service Levels, the descriptions contained in this Schedule
E and the Procedures Manual. OTI will support IBM's preliminary provision of the
Services by performing OTI's duties and responsibilities in accordance with the
descriptions contained in this Schedule E and the Procedures Manual. Until the
Service Levels are established and the Procedures Manual is completed, the
Parties will support the Services in accordance with the informal Service
criteria existing as of the Commencement Date and their respective
responsibilities as described herein. All capitalized terms used but not defined
in this Schedule E shall have the meanings given them in the Agreement and its
Schedules.

IBM will implement a process that will provide a framework for the management
and implementation of additional work requests in the IBM/OTI environment. This
methodology, called the Change Order Process, is the process to be utilized by
IBM and OTI to request, evaluate, prepare proposals and approve additional or
New Services. Any approved Change Orders will result in an amendment to Schedule
E via the Change Order Process.

2.0         DEFINITIONS

The following terms will be used in this Schedule:

Production means the state when OTI is providing services to a substantial
portion of its commercial customer base via the required configuration of
Machines and Software.

Non-Operational means Production Machines and Software are not available for
production use by OTI's End Users, commercial customer base and OTI internal
users.

Wan means the physical infrastructure (communication components and data
circuits) that connect all OTI End Users, commercial customer base and OTI
internal users, to the IBM Data Center via the 4 x Cisco 7507 routers as listed
in Schedule C and Exhibit E-2, Lan Services Responsibilities Matrix - Appendix
N1.

For the purposes of this Schedule E, Launch Day means OTI's target date of
January 25, 1999.

Significant Change means the introduction of any new Service or change that may
have an impact on End Users, Service Levels, access to the Machines or their
operation, except for normal production problem fixes. Significant Changes are
subject to the Change Order Process.

3.0         SUMMARY OF SERVICES

IBM will provide the Services outlined below, as fully described in Sections 5,
6 and 7 of this Schedule E.

*

-------------------------
* This confidential portion has been omitted and file separately with the
  Commission.

                                   Schedule E
                                 April 30, 1999

<PAGE>   70

4.0         SYSTEMS MANAGEMENT CONTROLS

IBM will provide to OTI, and IBM and OTI will mutually agree on and use, the
Systems Management Control ("SMC") Procedures for managing information systems
included within the Services. The SMC Procedures, in some combination, are
applicable to all the Services provided and shall be implemented, as
appropriate, for each Service being provided, for each of the Machines. The SMC
Procedures shall be included in the Procedures Manual. In general, IBM's SMC
responsibilities shall include the following processes:

*

5.0         APPLICATIONS SOFTWARE SUPPORT SERVICES

a.          APPLICATIONS SOFTWARE SUPPORT

IBM will provide technical support and advice for OTI's Applications Software
development and data base administration personnel according to the following
standards:

*

b.          APPLICATIONS SOFTWARE VERIFICATION

It is OTI's responsibility to verify the results of all Applications Software
and provide Applications Software on-line and batch system support for the
Machines and Lan as applicable.

OTI will be responsible for the following:

*

6.0         SYSTEMS/OPERATIONS RESPONSIBILITIES

a.          COMPUTER OPERATIONS

*

b.          PRODUCTION CONTROL AND OPERATIONS ANALYSIS

*

c.          TECHNICAL SERVICES

*

d.          SERVICE LEVEL REPORTING

*
e.          LAN SERVICES

*

f.           APPLICATIONS SOFTWARE PROCESSING

*

-----------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                   Schedule E
                                 April 30, 1999

<PAGE>   71

7.0         OTHER SERVICES

a.          HELP DESK

IBM will provide a SPOC to support IBM's Data Center for the Services Machines
(including the Lan), and the System Software. IBM's Help Desk ("IBM Help Desk"
or "Help Desk") will receive calls from End Users who require assistance in the
resolution of problems, concerns, and questions for the Services Machines
(including the Lan) and System Software to request Services at the Service
Levels set forth in Exhibit E-6.

*

b.          DOCUMENTATION

            1.          IBM shall:

                        (a)   create, update and maintain the Procedures Manual
                              in consultation with OTI and with OTI's prior
                              approval of any OTI obligations included therein.
                              Subsequent changes to any OTI obligations will
                              also be reviewed and approved by OTI/IBM before
                              inclusion in the Procedures Manual;

                        (b)   review operations documentation for adherence to
                              operational procedures and standards;

                        (c)   periodically distribute to OTI, information
                              bulletins regarding new or changed operations and
                              procedures;

                        (d)   update and maintain Help Desk documentation.

            2.          In support of the services, OTI shall:

                        (a)   provide documentation for operations procedures
                              and processes relating to the Tandem and DEC
                              Applications Software and other necessary
                              Machines nd Software (i.e. Secure ID) and IBM
                              shall include such documentation in the
                              Procedures Manual.

c.          SECURITY

The Parties' security responsibilities with respect to the Services are
specified in Schedule L.

d.          MAINTENANCE AGREEMENTS INCLUDING CONTRACTS FOR SERVICES MACHINES

Requirements for maintenance for the Service Machines were initially determined
by OTI as prime systems integrator. During the Measurement Period, IBM will
assess the adequacy of the Contracts listed in Schedule F-3 and other
maintenance agreements for Services Machines and will provide recommendations
for upgrading the existing level of maintenance if IBM considers upgrades
necessary in order to achieve the desired Service Level objectives.

Changes to maintenance agreements for Machines listed in Schedule D shall be
subject to agreement on pricing adjustments. All changes to maintenance will be
subject to the Change Management Procedures.

-----------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                   Schedule E
                                 April 30, 1999
<PAGE>   72

IBM will be responsible for managing scheduled vendor service calls and for
managing vendor maintenance execution.

e.          SUPPLIES SPECIFICATIONS

IBM will provide OTI with the technical and quality specifications for, and the
necessary inventory quantities of, the supplies, if any, required by IBM to
perform the Services.

f.          TECHNOLOGY

IBM will assist OTI in the review of vendor proposals affecting IBM's ability to
provide the Services to ensure existing and future systems compatibility with
changing industry standards. IBM will consult with OTI regarding new data
processing systems, as appropriate.

g.          SERVICE REVIEW MEETINGS

IBM will coordinate meetings, as required, with OTI and any of IBM's
subcontractors providing Services to review service measurements.

H.          ACCOUNT MANAGEMENT

There will be an IBM account management team specified for OTI, whose role is to
coordinate all aspects of the operations and support related to the Services as
defined in Schedule E. The account team will be comprised of a Customer Service
Analyst ("CSA") and Delivery Project Executive ("DPE") and will participate in
the operations, Change Management, Problem Management and performance review
meetings.

The team will be responsible for coordinating the necessary systems support
resources for OTI and will be OTI's interface to the IBM support structure. The
contact listing and organizational structure for the account management team
will be set forth in the Procedures Manual. The account team will participate in
service review meetings with vendors and service providers under contract with
OTI and who interact with IBM on Services relating to this Agreement, as
reasonably requested by OTI.

*

8.0         SERVICES AND PRICING ASSUMPTIONS

The pricing set out in Schedule J and the description of Services and the
Service Levels set out in the Schedule E are based on the following assumptions:

*           [4 page description]

9.0 DATA CENTER OPERATIONAL SERVICES AND LAN SERVICES

The Data Center Operational Services and Lan services matrices attached as
Exhibit E-2 to this Schedule further defines the roles and responsibilities of
the Parties. In the event of a conflict between the terms of the Data Center
Operational Responsibilities Matrix, the Lan services Matrix and the Agreement
and its Schedules, the terms of the Agreement and its Schedules shall govern.

-----------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                   Schedule E
                                 April 30, 1999

<PAGE>   73

SECTION E-2

SERVICE LEVELS

1.0 INTRODUCTION

This section describes the process for building Service Objectives and Service
Levels by refining OTI's initial service objectives into formal Service
Objectives and Service Levels and service criteria, that will be reflected in
Schedule E. A Service Objective means a service objective established as
described in this Section E-2 which ISM will strive to attain on a monthly
basis. A Service Level means a service level established as described in this
Section E-2, which will result in the awarding of Service Level Credits if not
attained by IBM on a monthly basis.

*

1.1         DETAILED ITERATIVE PROCESS DESCRIPTION

*

1.2         IMPLEMENTATION OF SERVICE OBJECTIVES AND SERVICE LEVEL AGREEMENTS

*
1.3         SERVICE LEVEL CREDITS

*

1.4         MATERIAL BREACH DUE TO SERVICE LEVELS

*

1.0         DEFINITIONS

For purposes of this Schedule, the following terms shall have the following
meanings:

*

2.0         SERVICE LEVEL CRITERIA

*

-----------------------
* This confidential portion has been omitted and filed separately with the
  Commission.

                                   Schedule E
                                 April 30, 1999

<PAGE>   74
                                   SCHEDULE E

                                 SERVICE LEVELS

EXHIBIT E-1

SERVICE LEVEL AGREEMENTS

NOTE: OTI is currently working on building a 24 hour chart that will illustrate
a typical business day. Critical milestone events highlighting Applications
Software startup/shutdown and availability windows will be identified. Pending
the completion of this chart, the draft service level objectives for Hardware
and System Software and Applications Software Availability cannot be calculated

During the Measurement Period described in Section E-2, IBM will use all
commercially reasonable efforts to provide the Services in accordance with OTI's
initial service level objectives as set out in Exhibit E-1.

                                   SCHEDULE E
                                 April 30, 1999
<PAGE>   75

OPTIMARK SERVICE LEVEL OBJECTIVES:

*

------------------------
* This confidential portion has been ommitted and filed separately with the
 Commission.

                                   SCHEDULE E
                                 April 30, 1999
<PAGE>   76

                                   CHART E-1A

                 SYSTEM AVAILABILITY (INITIAL SERVICE OBJECTIVE)

*

                                   CHART E-1B

                             DATA CENTER RELIABILITY

*

------------------------
* This confidential portion has been ommitted and filed separately with the
 Commission.

                                   SCHEDULE E
                                 April 30, 1999

<PAGE>   77

                                   CHART E-2A

                       APPLICATIONS SOFTWARE AVAILABILITY

*

                                   CHART E-2B

                 NEW APPLICATIONS SOFTWARE/SOFTWARE AVAILABILITY

*

                                    CHART E-3

                                    RESERVED

------------------------
* This confidential portion has been ommitted and filed separately with the
 Commission.

                                   SCHEDULE E
                                 April 30, 1999
<PAGE>   78

                                    CHART E-4

                            SCHEDULED BATCH SERVICES

*

------------------------
* This confidential portion has been omitted and filed separately with the
 Commission.

                                   SCHEDULE E
                                 April 30, 1999
<PAGE>   79

                                    CHART E-5

                                LAN AVAILABILITY

*

                                    CHART E-6

                                    HELP DESK

*

------------------------
* This confidential portion has been omitted and filed separately with the
 Commission.

                                   SCHEDULE E
                                 April 30, 1999
<PAGE>   80

                                    CHART E-7

                               PROBLEM MANAGEMENT

*

------------------------
* This confidential portion has been omitted and filed separately with the
 Commission.

                                   SCHEDULE E
                                 April 30, 1999
<PAGE>   81

EXHIBIT E-2

Operational Responsibilities Matrix

Data Center Operational/ Lan services Responsibilities Matrix

                     DATA CENTER OPERATIONAL SERVICES MATRIX

*           [12 page description]

------------------------
* This confidential portion has been omitted and filed separately with the
 Commission.

                                   SCHEDULE E
                                 April 30, 1999
<PAGE>   82

                                    SCHEDULE F

                                    CONTRACTS

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                                      CONTRACTS
--------------------------------------------------------------------------------------------------------------------------------
ITEM               VENDOR NAME                              DESCRIPTION                                    CONTRACT
NUMBER                                                                                                      NUMBER
--------------- --------------------------------------- ---------------------------------------------- ------------------------
<S>            <C>                                       <C>                                            <C>
     1              Cisco Systems Inc.                   Maintenance for Cisco equipment located at           1056629
                                                         the IBM Data Center as identified in
                                                         Schedule I, sections (a), (b) and (f).
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                   Schedule F
                                 April 30, 1999
<PAGE>   83

                                   SCHEDULE I

                                       LAN

This Schedule is a description of the Lan located at the Data Center as of the
Commencement Date. This will be used for determining growth in the Lan.
Lan components
a.   2 x Cisco Local Directors
b.   2 x Cisco 5513 Catalyst Switch, each contains the following cards:
     1.    Supervisor engine II
     2.    10/100 fast ethernet switching module (WS-X5213A) x 5
     3.    Route Switch Module (RSM)
c.   2 x Cisco 2514 routers (IBM firewall)
d.   2 x True Time network servers
     1.    1 x model 600-301-NTS Network Time Server
     2.    1 x model 600-401 Network Time Server
e.   1 x GPS dish (antenna)
f.   1 x Cisco 2511 terminal server

OTI lan topology diagram

*
------------------------
* This confidential portion has been ommitted and filed separately with the
 Commission.

                                  Schedule I
                                 April 30, 1999

<PAGE>   84

                                   SCHEDULE J

                    IBM CHARGES, MEASURES OF UTILIZATION, AND

                           FINANCIAL RESPONSIBILITIES

1.0         INTRODUCTION
This Schedule J describes the methodology for calculating the charges with
respect to the Services being provided to OTI pursuant to this Agreement unless
expressly provided otherwise in this Agreement. The Monthly Services Charge
("MSC") and any other charge provisions of this Agreement are intended, in the
aggregate, to compensate IBM for all of the resources used in providing the
Services. In addition, this Schedule J describes the measures of certain
resource utilization and the tracking thereof.
Attached to this Schedule are the following:
a.          Exhibit J-1 which sets forth the Monthly Services Charge,
            Baselines, Termination Charges and other applicable rates
            (the "Supplement"); and
b.          Exhibit J-2 which summarizes the financial responsibilities of the
            Parties under this Agreement (the "Financial
            Responsibilities Matrix").
All capitalized terms used and not defined in this Schedule J shall have the
same meanings given them in the Agreement and its Schedules.

2.0         MONTHLY SERVICES
CHARGE The Monthly Services Charge is the charge to OTI for IBM's provision of
the Services. For certain services, a baseline quantity is specified and a
charging methodology for excess quantities is stated in the Supplement. For all
other Services, Article 6.3 of the Agreement will determine the additional
charges if any, for new or additional Services. Beginning on the Commencement
Date and monthly thereafter, IBM will invoice OTI in advance for the Monthly
Services Charge due IBM for that month. The Monthly Service Charge amount will
be calculated by dividing the Annual Services Charge specified in the Supplement
for that period by the number of months or portion thereof in that period.
3.0         COST OF LIVING ADJUSTMENT

*

4.0         RESOURCE CATEGORIES AND MEASUREMENT METHODOLOGY

*

5.0         ADDITIONAL RESOURCE CHARGES (ARCS)

*

6.0         BASELINE ADJUSTMENTS

*

7.0         FINANCIAL RESPONSIBILITIES MATRIX
The Financial Responsibilities Matrix attached as Exhibit J-2 further defines
the financial responsibilities of the Parties. In the event of a conflict
between the terms of the Financial Responsibilities Matrix and this Agreement
and its Schedules, the terms of the Agreement and its Schedules shall govern.

------------------------
* This confidential portion has been ommitted and filed separately with the
 Commission.

                                   Schedule J                                  1
                                   May 3, 1999
<PAGE>   85

EXHIBIT J-1

SUPPLEMENT

NAME AND ADDRESS OF CUSTOMER:                            CUSTOMER NO.:
                  OptiMark Technologies Inc.
                  10 Exchange Place, 12th flr.
                  Jersey City, N.J. 07302
Commencement Date: December 1, 1997.
End Date: March 31, 2003.

                     TABLE 1 MONTHLY/ANNUAL SERVICES CHARGES
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------
                                                  CONTRACT YEAR
------------------------------------------------------------------------------------------------------
                   1997      1998        1999      2000       2001      2002      2003      TOTAL
------------------------------------------------------------------------------------------------------
 <S>                <C>       <C>         <C>       <C>        <C>       <C>     <C>        <C>
ANNUAL               *         *           *         *          *         *       *          *
SERVICE
CHARGE
------------------------------------------------------------------------------------------------------
   *
------------------------------------------------------------------------------------------------------
</TABLE>
*

------------------------
* This confidential portion has been ommitted and filed separately with the
 Commission.

                                    Schedule                                   2
                                   May 3, 1999

<PAGE>   86

                        TABLE 2: RESOURCE UNIT BASELINES

*

                      TABLE 3: ADDITIONAL RESOURCE CHARGES

                      TABLE 4: TERMINATION FOR CONVENIENCE

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                               CONTRACT YEAR
---------------------------------------------------------------------------------------------------------------
    BASE                      1997         1998        1999         2000          2001        2002     2003
                     ------------------------------------------------------------------------------------------
<S>                          <C>          <C>         <C>          <C>           <C>         <C>      <C>
 TERMINATION CHARGE              *            *           *            *             *           *         *
---------------------------------------------------------------------------------------------------------------
</TABLE>

*

------------------------
* This confidential portion has been ommitted and filed separately with the
 Commission.

                                   Schedule J                                  3
                                   May 3, 1999

<PAGE>   87

EXHIBIT J-2

                        FINANCIAL RESPONSIBILITIES MATRIX

*

------------------------
* This confidential portion has been omitted and filed separately with the
 Commission.

                                   Schedule J                                  4
                                   May 3, 1999

<PAGE>   88

SCHEDULE K

                         OPERATING ENVIRONMENT STANDARDS

1.0         INTRODUCTION
This Schedule K defines the mutually agreed to operating environment standards
(Hardware and Software) which IBM will support during the Term. OTI retains
financial responsibility to ensure all Software is deemed current in accordance
with Section 3.6 of the Agreement as of the Commencement Date.
2.0         APPLICATIONS SOFTWARE INSTALLATION STANDARDS

*

------------------------
* This confidential portion has been omitted and filed separately with the
 Commission.

                                   Schedule K                                  1
                                   May 3, 1999

<PAGE>   89

Operating Environment

*

------------------------
* This confidential portion has been omitted and filed separately with the
 Commission.
                                   Schedule J                                  2
                                   May 3, 1999
<PAGE>   90

                                   SCHEDULE L

                                    SECURITY

1.0         INTRODUCTION
IBM will provide a "Security Management Guidelines for Commercial Environments"
document to OTI as a starting point for building OTI's security guidelines that
are to be in place for OTI as of the Commencement Date. During the Transition
Period, IBM will work with OTI to refine this document and create the
appropriate section of the Procedures Manual which will define the mutually
agreeable security controls which will be implemented at/for OTI. SECURITY
MANAGEMENT
a.          IBM will:

            1.          provide OTI with a customized version of "IBM
                        Information Security Management Guidelines for
                        Commercial Environments" (drafts dated Feb. 27 and
                        April 27, 1998); and
            2.          in conjunction with OTI, review the "Security Management
                        Guidelines for Commercial Environments" document and
                        create the mutually agreed upon OTI security policies
                        and procedures; and
            3.          in conjunction with OTI, on an ongoing basis review the
                        security policy and procedures for effectiveness and
                        recommend improvements; and
            4.          maintain and update the security section of the
                        Procedures Manual when necessary.
b.          OTI will:
            1.          provide IBM with OTI's most recent security standards
                        and practices, including updates as they occur; and
            2.          in conjunction with IBM review the security policies and
                        procedures for effectiveness and recommend improvements.
2.0         PHYSICAL SECURITY

*

3.0         LOGICAL ACCESS CONTROL

*

4.0         LAN SECURITY

*

5.0         DATA NETWORK

*

------------------------
* This confidential portion has been omitted and filed separately with the
 Commission.

                                   Schedule L                                  1
                                 April 30, 1999

<PAGE>   91

                                   SCHEDULE M

                                    HELP DESK

1.0         INTRODUCTION
IBM will staff a Help Desk to act as the initial single-point-of-contact
("SPOC") to support the Data Center, including the Machines including the Lan
and System Software. IBM Help Desk will receive calls from OTI's End Users, who
require assistance in the resolution of problems, concerns and to request
Services.
2.0         HOURS OF COVERAGE
The Help Desk hours of coverage will be 24 hours a day, 7 days a week.
3.0         HELP DESK SERVICES

*

4.0         ATTACHMENT

*
---------------
* This confidential portion has been ommitted and filed separately with the
 Commission.

                                   Schedule M                                  1
                                 April 30, 1999

<PAGE>   92

                                   SCHEDULE N

                              CHANGE ORDER PROCESS

1.0         INTRODUCTION

1.1         All capitalized terms used in this Schedule and not otherwise
defined herein will have the meanings ascribed to them in the Agreement. For the
purposes of this schedule, "Change" shall mean any change to the Services which
requires IBM to perform functions different from and in addition to those
currently provided by IBM in delivering the Services.

1.2         The purpose of the change order process described in this Schedule
"N" is to establish a procedure for requesting Changes to the scope of Services.

1.3         OTI and IBM agree that during a 60 day interim period following the
date of execution of the Agreement, they will work together in good faith to
develop a revised version of this Schedule "N". The agreed purpose of the
revised process is to implement a Change Order process which will be highly
flexible, in order to meet OTI's constantly evolving operating requirements,
while meeting each party's need for contractual certainty. During such interim
period, the full implementation of the process set out in this Schedule "N" will
be deferred and each Change request from OTI will instead be addressed by means
of written authorization from OTI to IBM setting out the requested Change and
undertaking to pay the IBM charges for the requested Change. All Change requests
so addressed during the interim period will be documented in accordance with the
requirements of Schedule "N" following completion of the interim period. If the
parties are unable to reach agreement on a revised version within such interim
period (or any mutually agreed extension of such period), this Schedule "N"
shall apply.

2.0         OTI INITIATED CHANGE

2.1         OTI may request a Change to the scope of Services, including the
introduction of New Services, at any time and from time to time during the Term
by completing and delivering to IBM a change order request in the form attached
hereto as Exhibit 1 (a "Change Order Request"). Each Change Order Request shall
be signed by the OTI Project Executive (or any other Person designated by the
OTI Project Executive in writing from time to time) and shall contain all
technical and financial information required for IBM to assess the request.

2.2         Unless OTI and IBM otherwise agree, IBM shall respond to a Change
Order Request within 30 days of its receipt thereof (or such longer period as
OTI and IBM may agree) by delivering to OTI a change order proposal in the form
attached hereto as Exhibit 2 (a "Change Order Proposal"). Each Change Order
Proposal shall specifically address the relevant Change Order Request and
identify the scope of the proposed Change, the solution, the implementation
approach, the expected delivery time, the price implications, if any, and any
other change to the Agreement terms as a result of such Change. If IBM
determines that a Change Order Request could be implemented in a more cost
effective manner than that described in the Change Order Request or should, for
any reason, be implemented in a different manner than that described in the
Change Order Request,

                                   Schedule N                                  1
                                 April 30, 1999

<PAGE>   93
IBM shall advise OTI in writing of its recommendations and shall, if requested
by OTI, prepare a Change Order Proposal which reflects its recommendations.

2.3         Unless OTI and IBM otherwise agree, within 30 days of receiving the
Change Order Proposal from IBM (or such period as OTI and IBM may agree) OTI
shall:

(a)         accept the Change order Proposal by signing and returning the
            Change Order Proposal to IBM;

(b)         propose modifications to any aspect of the Change Order Proposal
that OTI finds unacceptable by so notifying ISM in writing; or

(c)         reject the Change Order Proposal by notifying IBM in writing.

            If OTI proposes modifications to the Change Order Proposal, IBM
shall submit a revised Change Order Proposal within 30 days of IBM receiving
notice of such proposed modifications (or such other period as OTI and IBM may
agree). OTI reserves the right to accept or reject, in its sole and absolute
discretion, any Change Order Proposal submitted by IBM in response to a Change
Order Request.

3.0         IBM INITIATED CHANGE

3.1         IBM may request a Change to the scope of Services, including the
introduction of New Services, at any time and from time to time during the Term
by completing and delivering to OTI a Change Order Proposal. Each Change Order
Proposal shall be signed by the IBM Project Executive (or any other Person
designated by the IBM Project Executive in writing from time to time) and shall
identify the scope of the proposed Change, the solution, the implementation
approach, the expected delivery time and any proposed adjustment to the Monthly
Services Charges and/or other amounts payable by OTI and any other change to the
Agreement terms as a result of such Change.

 3.2        Subject to Section 3.3 below, unless OTI and IBM otherwise agree
            within 30 days of receiving a Change Order Proposal from IBM (or
            such longer period as OTI and IBM may agree) OTI shall:

(a)         accept the Change Order Proposal by signing and returning the
Change Order Proposal to IBM;

(b)         propose modifications to any aspect of the Change Order Proposal
that OTI finds unacceptable by so notifying IBM in writing; or

(c)         reject the Change order Proposal by notifying IBM in writing.

If OTI proposes modifications to the Change Order Proposal, IBM may submit a
revised Change Order Proposal within 30 days of IBM receiving notice of such
proposed modifications (or such other period as OTI and IBM may agree).

                                   Schedule N                                  2
                                 April 30, 1999

<PAGE>   94

3.3         OTI shall evaluate each Change Order Proposal to determine the
impact of the proposed Changes contemplated thereby and will accept any
reasonable Change Order Proposal made by IBM; provided, however, that OTI may
reject any Change Order Proposal made by IBM or delay its implementation, if OTI
determines, in its sole and absolute discretion, that the Change contemplated by
the Change Order Proposal will:

(a)         increase the Monthly Services Charge and/or any other amounts
payable by OTI to IBM pursuant to the Agreement;

(b)         have an adverse impact upon any of the Services provided to, or the
business operations of, OTI; or

(c)         require OTI to dedicate additional resources, including personnel,
to accommodate such Changes.

4.0         GENERAL

4.1         OTI and IBM agree that no Change will be implemented pursuant to a
Change Order Proposal until OTI has had a reasonable opportunity to adapt its
operations to accommodate the proposed Change and OTI has so notified IBM.

4.2         If OTI and IBM agree on the terms and conditions of a Change Order
Proposal, then OTI and IBM shall fully co-operate with each other (and any
third-party vendors or suppliers, if any) to implement the proposed Change
agreed to in the Change Order Proposal.

4.3         IBM shall maintain a record of each Change Order Request, Change
Order Proposal and all other documentation relating thereto.

                                   Schedule N                                  3
                                 April 30, 1999

<PAGE>   95

EXHIBIT 2 TO SCHEDULE "N"
CHANGE ORDER PROPOSAL

TO:         OTI TECHNOLOGIES INC. ("OTI")

FROM:       IBM CANADA LIMITED ("IBM")

            RE:  CHANGE ORDER PROCESS UNDER INFORMATION TECHNOLOGY AGREEMENT
            DATED --------- BETWEEN OTI AND IBM CANADA LIMITED (THE "AGREEMENT")
            CHANGE ORDER PROPOSAL #_______ RESPONSE TO CHANGE ORDER #______

This Change Order Proposal forms part of and is subject to the terms and
conditions of the Agreement and is not binding until both IBM and OTI have
respectively executed and agreed to the Change Order Proposal.

1.      CHANGE ORDER REQUEST

1.1         Business Need
1.2         Request Description
1.3         Change Order Requirements

2.      PROPOSAL SOLUTION

2.1         Services offered
2.2         Service levels
2.3         Execution plan
2.4         Assumptions

3.      FINANCIAL ASPECTS
                        Insert pricing
3.1         Potential benefits
3.2         Other potential advantages
3.3         Optional services

4.      TERMS AND CONDITIONS

4.1         Obligations of IBM
4.2         Obligations of OTI
4.3         Validity period
            This offering is valid until:
4.4         Cancellation
In the event that OTI, after accepting the offering, should decide for any
reason whatsoever to terminate it, OTI must pay to IBM a charge equal to the
installation costs incurred by IBM as of the date of cancellation, plus any
charges for which IBM is liable to its suppliers.
4.5         Points requiring follow-up
4.6         Sales taxes

                                   Schedule N                                  4
                                 April 30, 1999

<PAGE>   96

Costs set out in this offering do not include relevant taxes.

APPENDICES

Agreed to:
IBM CANADA LIMITED

By:         ------------------------------
            Authorized Signature

            ------------------------------
            Name (Print or Type)

            ------------------------------
            Title

            ------------------------------
            Date

Agreed to:
OTI INC.

By:         ------------------------------
            Authorized Signature

            ------------------------------
            Name (Print or Type)

            ------------------------------
            Title

            ------------------------------
            Date

                                   Schedule N                                  5
                                 April 30, 1999

<PAGE>   97

EXHIBIT 1 TO SCHEDULE "N"
CHANGE ORDER REQUEST                Change Order Request number _____

TO:         IBM CANADA LIMITED ("IBM")

FROM:       OTI TECHNOLOGIES INC. ("OTI")

            RE:  CHANGE ORDER PROCESS UNDER THE INFORMATION TECHNOLOGY AGREEMENT
            DATED ----------- MADE BETWEEN OTI AND IBM CANADA LIMITED. (THE
            "AGREEMENT").

This Change Order Request forms part of and is subject to the terms and
conditions of the Agreement and is not binding until both IBM and OTI have
respectively executed and agreed to a Change Order Proposal prepared by IBM.

                        1.            Business Need
                        2.            Request Description
                        3.            Change Order Requirements
                        4.            Delivery Requirements

OTI TECHNOLOGIES INC.

By:         ------------------------------
            Authorized Signature

            ------------------------------
            Name (Print or Type)

            ------------------------------
            Title

            ------------------------------
            Date

                                   Schedule N                                  6
                                 April 30, 1999

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