Document:

COMMITMENT AGREEMENT

     This  COMMITMENT  AGREEMENT  ("Agreement") is made as of November 21, 2005,
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between  Private Trading Systems, Inc., a Nevada corporation (the "Company") and
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Terence P. Ramsden ("Ramsden"), an individual, or an entity owned and controlled
by  Ramsden,  as  a  past  and,  potentially,  future  investor  in  the Company
(collectively,  the  "Investor").
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                                   BACKGROUND

     Investor  desires to invest funds as more fully defined in Section 1 in the
                                                                ---------
Company  provided  the  Company  meets  a  certain  milestone.

                                    AGREEMENT

     NOW,  THEREFORE,  in consideration of the premises and the mutual covenants
set  forth  in  this  Agreement,  the  parties  hereto  hereby agree as follows:

       1.     CAPITAL INVESTMENT. Within 90 days of the occurrence of the shares
of  the  Company's  common  stock  being  listed  on the American Stock Exchange
("AMEX"),  the Investor agrees that, upon written notice from the Company and at
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the  sole  discretion of the Company, Investor will deliver US $20,000,000 worth
of  cash  and/or  shares  of  Birchington  Investments, Ltd., (collectively, the
"Capital  Investment")  to  the  Company in exchange for shares of the Company's
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common  stock (the "Stock") in number equal to the quotient obtained by dividing
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the  aggregate  value  of  the  Capital  Investment  actually contributed to the
Company  by  the  fair  market  value of the Company's common stock as listed on
AMEX.  The  fair  market  value  will  be  determined by determining the average
closing  price  of  the  Company's common stock on AMEX for the five consecutive
trading  days  preceding  the date on which the Capital Investment is due to the
Company.

       2.     INVESTMENT  DISCLOSURE.  The Investor acknowledges and agrees that
(a)  the  Investor  has  had  access  to and an opportunity to review documents,
records,  reports,  and information regarding the Company (the "Documents") that
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such Investor may have reasonably requested, and such Investor has completed its
review  of  such Documents to its satisfaction, and (b) such Investor has had an
opportunity  to  make inquiries of Company as to its financial condition, and to
make  other  such  inquiries  of  the  Company  that  such Investor believes are
necessary  or  appropriate  to  determine  that  it  desires  to enter into this
Agreement,  without  reliance  on or any advice, counsel, or persuasion from the
Company  or  its  agents  or  advisors.

       3.     INVESTOR'S REPRESENTATIONS.  At the time the Capital Investment is
made,  the  Investor will, if requested by the Company, deliver to the Company a
standard investment representation letter enabling the Company to secure any and
all necessary exemptions from registration under the applicable securities laws.

       4.     BINDING NATURE OF AGREEMENT; TRANSFER OF INTEREST.  This Agreement
shall  be  binding upon and inure to the benefit of the parties hereto and their
respective heirs, personal representatives, successors, and assigns, except that
Investor  shall  not assign, grant a security interest in, or otherwise transfer
its  rights  under  this  Agreement  without the consent of the Company, and any
attempted  transfer  or grant without such consent shall be void and of no force
or  effect.

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       5.     FURTHER  ASSURANCES.  Each  party hereto agrees to do all acts and
things  and to make, execute, and deliver such written instruments as shall from
time  to  time  be  reasonably required to carry out the terms and provisions of
this  Agreement.

       6.     NO THIRD-PARTY BENEFICIARIES.  This Agreement shall not confer any
rights  or remedies upon any person other than the parties to this Agreement and
their  respective  successors  and  permitted  assigns.

       7.     ENTIRE AGREEMENT; AMENDMENTS.  This Agreement, contains the entire
agreement and understanding among the parties hereto with respect to the subject
matter  hereof  and  supersedes  all  prior  and  contemporaneous  agreements,
understandings,  inducements,  and  conditions,  express  or  implied,  oral  or
written, of any nature whatsoever with respect to the subject matter hereof. The
express  terms  hereof  control  and  supersede any course of performance and/or
usage of the trade inconsistent with any of the terms hereof. This Agreement may
not  be  modified or amended other than by an agreement in writing signed by the
party  or  parties  to  be  bound.

       8.     CONTROLLING LAW.  This Agreement and all questions relating to its
validity,  interpretation, performance, and enforcement shall be governed by and
construed, interpreted, and enforced in accordance with the laws of the State of
Nevada,  notwithstanding  any  Nevada or other conflict-of-law provisions to the
contrary.

       9.     INDULGENCES,  NOT  WAIVERS.  Neither  the failure nor any delay on
the part of a party to exercise any right, remedy, power or privilege under this
Agreement  shall  operate  as  a waiver thereof, nor shall any single or partial
exercise  of any right, remedy, power or privilege preclude any other or further
exercise  of  the  same  or  of any other right, remedy, power or privilege, nor
shall  any  waiver  of any right, remedy, power or privilege with respect to any
occurrence  be  construed  as a waiver of such right, remedy, power or privilege
with  respect to any other occurrence. No waiver shall be effective unless it is
in  writing  and  is  signed  by the party asserted to have granted such waiver.

      10.     SECTION  HEADINGS.  The  titles  of  sections  and  subsections
contained in this Agreement are for convenience only.  They form no part of this
Agreement  and  they are not to be used in the construction or interpretation of
this  Agreement.

      11.     EXECUTION  IN COUNTERPARTS.  This Agreement may be executed in any
number  of  counterparts,  each  of  which  shall be deemed to be an original as
against  any  party  whose  signature  appears  thereon,  and all of which shall
together  constitute  one  and  the same instrument. This Agreement shall become
binding  when  one  or more counterparts hereof, individually or taken together,
shall  bear  the  signatures  of  all  of  the  parties  reflected hereon as the
signatories.  Any  photographic  or xerographic copy of this Agreement, with all
signatures  reproduced  on  one  or  more  sets  of  signature  pages,  shall be
considered  for  all  purposes  as  if  it  were an executed counterpart of this
Agreement.  Signatures  may  be  given  by  facsimile  or  other  electronic
transmission,  and  such  signatures shall be fully binding on the party sending
the  same.

      12.     PROVISIONS  SEVERABLE.  The  provisions  of  this  Agreement  are
independent of and severable from each other, and no provision shall be affected
or  rendered  invalid or unenforceable by virtue of the fact that for any reason
any other or others of them may be invalid or unenforceable in whole or in part.
Further,  if  a court of competent jurisdiction determines that any provision of
this Agreement is invalid or unenforceable as written, such court may interpret,
construe,  rewrite  or  revise  such provision, to the fullest extent allowed by
law,  so  as  to make it valid and enforceable consistent with the intent of the
parties.

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      13.     CONSTRUCTION.  Each  party  hereto  acknowledges  that  it  was
represented  by legal counsel (or had the opportunity to be represented by legal
counsel  but  chose not to be represented) in connection with this Agreement and
that  such  party  and  his,  her  or its counsel have reviewed and revised this
Agreement,  or have had an opportunity to do so but chose not to do so, and that
any  rule  of  construction  to  the  effect that ambiguities are to be resolved
against  the  drafting party shall not be employed in the interpretation of this
Agreement  or  any  amendments  or  any Exhibits or Schedules hereto or thereto.

     IN  WITNESS WHEREOF, the parties have executed and delivered this Agreement
as  of  the  date  first  above  written.

     PRIVATE  TRADING  SYSTEMS,  INC.           TERENCE  P.  RAMSDEN

     /s/  C.  Austin  Burrell                   /s/  Terence  P. Ramsden
     --------------------------------           --------------------------------
     C.  Austin  Burrell
     Chief  Executive  OfficerCHIEF EXECUTIVE OFFICER
                              EMPLOYMENT CONTRACT

This agreement is made and effective as of the 15th day of November 2005 between
PRIVATE TRADING SYSTEMS, INC. and/or  its affiliates and/or subsidiaries
(hereinafter "PVTD" or "the Company"), a Nevada corporation, and of C. AUSTIN
BURRELL (hereinafter "Burrell" or "the CEO").

WHEREAS, PVTD desires to secure the services of Burrell and of Burrell desires
to accept such employment.

NOW THEREFORE, in consideration of the material advantages accruing to the two
parties and the mutual covenants contained herein, and intending to be legally
and ethically bound hereby, PVTD and Burrell agree with each other as follows:

1.   Position and Duties.  Burrell will render professional services to PVTD in
the capacity of Chief Executive Officer of PVTD. He will at all times,
faithfully, industriously and to the best of his ability, perform all duties
that may be required of him by virtue of his position as Chief Executive Officer
and all duties set forth in the PVTD bylaws and in any policy statements of the
Board of Directors thereof. It is understood that these duties shall be
substantially the same as those of a chief executive officer of a publicly held
business corporation.

Burrell will be further appointed Chairman of the Board of Directors of the
Company upon the execution of this Agreement, such appointment to run
concurrently with the term of this agreement unless the parties hereto should
otherwise agree in writing. Burrell shall have all of the customary powers and
authority granted to a chairman of the board of a publicly held business
corporation. Burrell is hereby vested with authority to act on behalf of the
Board in keeping with policies adopted by the Board, as amended from time to
time. In addition, he shall perform in the same manner any special duties
assigned or delegated to him by the Board.

2.   Term of Employment.  The term of employment under this Agreement shall be
for 5 (five) years from the date of execution hereof. The term of employment
under this agreement may be extended by further written agreement between the
parties hereto in additional increments of two years or longer as the parties
may agree, such extension agreements to be negotiated, drafted, and signed by
the parties no later than 60 (sixty) days prior to the expiration of the
existing agreement. This contract and all its terms and conditions shall
continue in effect until terminated.

3.   Sign-on Bonus.  Pursuant to negotiations between the parties, Burrell will
receive a sign-on bonus in the amount of US $300,000.00 (Three Hundred Thousand
Dollars). The sign-on bonus will be paid to Burrell in a manner to be agreed
upon between the parties hereto, and is contingent only upon execution of this
agreement. Further, the sign-on bonus is in addition to and not a part of any
other compensation identified

<PAGE>
herein.

4.   Compensation. In consideration for his services as Chief Executive Officer,
PVTD agrees to pay Burrell a minimum annualized salary of US $600,000.00 (Six
Hundred Thousand Dollars) or such higher figure as shall be agreed upon at an
annual review of his compensation and performance by the Compensation Committee
of the Company. Such review shall be based upon the CEO's contributions to the
Company, the performance of PVTD, and such other bases as the parties may agree
in writing in advance to consider. The annual review shall occur a minimum of 90
(ninety) days prior to the end of each year of the contract for the express
purpose of considering incremental increases in compensation. The amount of US
$50,000.00 (Fifty Thousand Dollars) shall be payable to Burrell on a monthly
basis throughout the initial contract year; thereafter, a monthly payment will
be determined based upon that year's annualized salary as determined by the
Compensation Committee.

5.   Annual Incentive Compensation.  Burrell will be entitled to annual
incentive compensation based upon performance measures and goals established and
agreed in writing between Burrell and the Compensation Committee in advance of
the commencement of the year for which such performance measures and goals shall
be in place. For the first year of this Agreement, the performance measures and
goals will be established within 60 (sixty) days of the execution hereof. The
target amount of the incentive compensation shall be a minimum of 75%
(seventy-five percent) of Burrell's base salary, with a maximum incentive in any
given year of 150% (one hundred fifty percent) of Burrell's base salary, based
upon the performance measures and goals agreed upon between Burrell and the
Compensation Committee.

6.   Option Grants.  Burrell will have been granted as of December 2004 an
option entitling him to purchase 20,000,000 shares of the common stock of PVTD
at an exercise price of US $00.50 (Fifty Cents) per share, the fair market value
at the time Burrell was granted the option. The option is to be fully vested
upon issuance and shall have full registration rights, and shall have an
expiration period of seven years. As an additional incentive, PVTD will issue to
Burrell an additional option under the Company's Long-Term Equity Incentive Plan
once adopted entitling Burrell to purchase an additional 10,000,000 shares of
PVTD common stock pursuant to PVTD's standard form of option agreement. The
sequent option will vest in three equal installments on an annual basis over a
three year period, contingent only upon Burrell's continued employment with the
Company.

7.   (a) Vacation.  Burrell shall be entitled to 5 (five) weeks of compensated
vacation time in each of the contract years, to be taken at times mutually
agreed upon between him and the Board.

(b)  Long-Term Disability.  In the event of a period of prolonged inability to
work due to the result of a sickness or an injury, Burrell will be compensated
at his full rate of pay for at least 1 (one) year from the date of the sickness
or injury. In the second year through fifth years of such disability, the
Company agrees to pay disability coverage of US

<PAGE>
$500.00 (Five Hundred Dollars) per day, such payments to be sourced from a
disability policy purchased by the Company from an A- rated or better insurance
company as rated by A.M. Best and Company.

(c)  Professional Absences.  Burrell will be permitted to be absent from the
Company during working days to attend professional meetings and to attend to
such outside professional duties in the Company's field as have been mutually
agreed upon between him and the Board. Attendance at such approved meetings and
accomplishment of approved professional duties shall be fully compensated
service time and shall not be considered vacation time.

(d)  Expenses.  PVTD shall reimburse Burrell for all expenses including
first-class travel expenses incurred by him incident to attendance at approved
professional meetings and such other expenses incurred by him in furtherance of
the Company's interests, including spousal travel expenses, all in accordance
with the Company's policies and procedures for senior executives and provided
that such reimbursement is properly accounted for in accordance with Company
policy.

(d)  Additional benefits.  In addition, Burrell shall be entitled to all other
fringe benefits generally available to other senior executive employees of the
Company, as and when such benefits become available.

8.   PVTD agrees to pay Burrell's dues to professional associations and
societies and to such service organizations and clubs, including country club
dues limited to two memberships, of which the CEO is a member, approved by the
Board as being in the best interests of PVTD, during the term of this Agreement
and any extension hereof.

9.   PVTD also agrees to:

(a)  indemnify Burrell with respect to all matters relating to his service as an
officer and/or director of PVTD to the extent of his services as set forth in
this agreement and the Company's Bylaws as amended from time to time, and in
accordance with the terms of any other indemnification applicable to the
Company's officers and/or directors that the Company may provide. This
indemnification is contractual in nature and shall survive any adverse amendment
to or repeal of the Company's Bylaws, and shall survive the termination of
Burrell's employment and/or the termination of this Agreement;

(b)  insure Burrell under the Company's general liability insurance policy and a
separate directors' and officers' liability insurance policy for all acts done
by him in good faith as Chief Executive Officer and/or Chairman throughout the
term of this Agreement and any extension hereof. This requirement is contractual
in nature and shall survive the termination of Burrell's employment and the
termination of this Agreement;

(c)  provide, throughout the term of this Agreement and any extension hereof, a
group life insurance policy for the CEO in an amount equivalent to US
$5,000,000.00 (Five

<PAGE>
Million Dollars) payable to the beneficiary of his choice;

(d)  provide full health and major medical health insurance for the CEO and his
family in accordance with the coverage provided to all other employees
throughout the term of this Agreement and any extension hereof;

(e)  purchase travel accident insurance covering the CEO in the sum of US
$5,000,000.00 (Five Million Dollars) payable to the beneficiary of his choice,
which coverage shall continue throughout the term of this Agreement and any
extension hereof;

(f)  furnish an automobile for the use of Burrell suitable to his role as CEO
and Chairman of the Board of the Company, leased or purchased at the beginning
of every third fiscal year, and reimburse him for expenses of its operation,
maintenance, insurance and registration throughout the term of this Agreement
and any extension hereof; upon termination of this agreement, such automobile
then in Burrell's possession shall become his personal property free and clear
of any lien or further obligation;

(g)  purchase financial counseling services on behalf of Burrell in an amount
not to exceed US $10,000.00 on an annual basis during each year of this
Agreement and any extension hereof;

(h)  to provide suitable office equipment including computers, copier, fax,
telephone and such other equipment as Burrell shall require for his personal
office and to upgrade or replace such equipment every three years throughout the
term of this Agreement and any extension hereof; upon termination of this
agreement, such equipment then in Burrell's use shall become his personal
property free and clear of any lien or further obligation;

(i)  contribute on behalf of the CEO to a defined contribution retirement plan
qualified under the Internal Revenue Code, at the rate of 20% (Twenty percent)
of Burrell's then monthly income per month during the term of this Agreement and
any extension hereof; and

(j)  contribute on behalf of the CEO to a non-qualified retirement plan in the
form of a Supplemental Executive Retirement Plan, at the rate of 10% (Ten
percent) of Burrell's then monthly income per month during the term of this
Agreement and any extension hereof.

10.  Termination.

(a)  Termination Due to the Death or Disability of Burrell.  The Board may
terminate the CEO for disability or death.  Under these circumstances, PVTD
shall pay Burrell his then-accrued salary for the month in which his duties were
terminated and any pro-rated bonus for the year up until the date of
termination.

<PAGE>
(b)  By the Company for Cause.  The Board may terminate Burrell's duties as
Chief Executive Officer for Cause.  For purposes of this Agreement, "Cause"
shall mean

    (i)   Burrell's willful, intentional or grossly negligent failure to perform
          his duties under this Agreement diligently and in accordance with the
          directions of the Board of Directors;
    (ii)  an admission by or final conviction of Burrell of any felony;
    (iii) the commission of an act of fraud against the Company by Burrell or
          the material misappropriation by Burrell of property belonging to the
          Company; or
    (iv)  any material breach of this Agreement not remedied by Burrell within
          30 (thirty) days of written notice to him from the Company, which
          notice must include a detailed and specific description of the alleged
          material breach.

Such action shall require a supermajority (66%) vote of the entire Board and
become effective upon written notice to the CEO or at such later time as may be
specified in said notice. After such termination, all rights, duties and
obligations of both parties shall cease, except for the payment of any accrued
salary due and owing to Burrell at that time.

(c)  By PVTD Other Than for Cause.  In the event of a termination of Burrell by
the Company other than for Cause or as otherwise described in section 12
following, Burrell shall be entitled to the same severance package as if there
had been a Change in Control of the Company, as set forth in section 11 below.

11.  Termination Due to Change in Control of PVTD.

(a)  In the event a Change in Control of the Company as defined below:

          (i)  occurs during the term of this Agreement, and prior to the
               earlier to occur of the first anniversary of the Change in
               Control or the expiration of the then-current term of this
               Agreement, and either (A) Burrell is terminated by the Company
               pursuant to section 6(c), but not for Cause, or (B) Burrell
               terminates, or gives notice of termination, for Good Reason (as
               defined below); or

          (ii) prior to the effectiveness of a firm commitment underwritten
               public offering pursuant to a registration statement under the
               Securities Act of 1933, as amended, covering the offer and sale
               of PVTD's common stock for the account of the Company in which
               the aggregate price to the public for shares sold by the Company
               equals or exceeds US $1,000,000,000.00 (One Billion Dollars)
               Burrell's service as an officer and director of the Company
               terminates for any reason other than for Cause or his death,
               disability or resignation;

then Burrell shall be entitled to payment and benefits as set forth in section
11(b) below.

<PAGE>
(b)  If payment and benefits are required under section 11(a) above, PVTD shall:

         (i)   pay to Burrell as severance pay, in one lump sum, in cash, no
               later than the tenth day following his termination, an amount
               equal to 2 (two) times his annualized salary and annual incentive
               compensation then in effect; but in no case shall such payment
               exceed 2.99 (two point nine-nine) times his annual salary then in
               effect; and

         (ii)  PVTD shall maintain full senior executive medical, dental and
               health coverage on Burrell and his dependents subject to the
               limitations set forth in this section 11(b)(ii). The Company's
               obligation to Burrell shall expire upon the earlier to occur of
               (A) the date which is 36 months after the date Burrell's
               employment is terminated, or (B) the date that Burrell becomes an
               employee of another company providing him with coverage
               substantially similar to that provided to him by the Company
               immediately prior to the termination of his employment.
               Notwithstanding anything to the contrary in this section
               11(b)(ii), the payment of premiums by the Company is not intended
               to alter in any way the provisions of any group health plan of
               the Company, and all time limits, effects of subsequent coverage
               and all other relevant provisions of any such plan remain
               unchanged and shall control Burrell's entitlement to coverage or
               benefits under such plan.

(c)  As used herein, a "Change in Control" means the happening of any of the
following:

         (i)   any person or entity, including a "group" as defined in Section
               13(d)(3) of the Securities Exchange Act of 1934, as amended,
               other than the Company or a wholly-owned subsidiary thereof, any
               employee benefit plan of the Company or any of its subsidiaries,
               becomes the beneficial owner of the Company's securities having
               50% or more of the combined voting power of the then outstanding
               securities of the Company that may be cast for the election of
               directors of the Company (other than as a result of an issuance
               of securities initiated by the Company in the ordinary course of
               business); or

         (ii)  as the result of, or in connection with, any cash tender or
               exchange offer, merger or other business combination, sales of
               assets or contested election, or any combination of the foregoing
               transactions, less than a majority of the combined voting power
               of the then outstanding securities of the Company or any
               successor corporation or entity entitled to vote generally in the
               election of the directors of the Company or such other
               corporation or entity after such transaction are held in the
               aggregate by the holders of the Company's securities entitled to
               vote generally in the election of directors of the Company
               immediately prior to such transaction; or

<PAGE>

         (iii) during any period of two consecutive years, individuals who at
               the beginning of any such period constitute the Board of
               Directors of the Company cease for any reason to constitute at
               least a majority thereof, unless the election, or the nomination
               for election by the Company's stockholders, of each director of
               the Company first elected during such period was approved by a
               vote of at least two-thirds of the directors of the Company then
               still in office who were directors of the Company at the
               beginning of any such period.

(d)  For purposes of this Agreement, "Good Reason" shall mean the occurrence of
any of the following events without Burrell's express written consent:

         (i)   the assignment to Burrell by PVTD of duties inconsistent with his
               position, duties, responsibilities and status with the Company
               immediately prior to a Change in Control, or a change in
               Burrell's titles or offices as in effect immediately prior to a
               Change in Control, or any removal of Burrell from or any failure
               to reelect him to any of such positions; provided, that any such
               event that occurs in connection with the termination of
               employment for disability, retirement, for Cause, as a result of
               Burrell's death, or by Burrell other than for Good Reason, shall
               not fall within the purview of this section 11(d)(i);

         (ii)  a reduction by PVTD in Burrell's annualized salary as in effect
               on the date hereof or as the same may be increased from time to
               time during the term of this Agreement;

         (iii) any material breach by PVTD of any provision of this Agreement;
               or

         (iv)  any failure by PVTD to obtain the assumption of this Agreement by
               any successor or assign of the Company.

12.  Voluntary Termination.  Should Burrell at his discretion elect to terminate
this contract for any other reason than as stated in section 10, he shall give
the Board 90 days' written notice of his decision to terminate. At the end of
the 90 days, all rights, duties and obligations of both parties to the contract
shall cease and Burrell will not be entitled to severance benefits other than
his accrued salary.

13.  Confidentiality. Burrell shall maintain confidentiality with respect to
information that he receives in the course of his employment and not disclose
any such information. Burrell shall not, either during the term of employment or
thereafter, use or permit the use of any information of or relating to the
Company in connection with any activity or business and shall not divulge such
information to any person, firm, or corporation whatsoever, except as may be
necessary in the performance of his duties hereunder or as may be required by
law or legal process.

<PAGE>
14.  Non- Competition. During the term of his employment and during the 12-month
period following termination of his employment, Burrell shall not directly own,
manage, operate, or control, as an officer or director, any other publicly
traded software company in the field of developing turnkey securities exchanges,
(hereinafter referred to as "entity") that is at the time engaged principally or
significantly in a business that is, directly or indirectly, at the time in
competition with the business of PVTD. Nothing herein shall prohibit Burrell
from acquiring or holding any issue of stock or securities of any entity that
has any securities listed on a national securities exchange or quoted in a daily
listing of over-the-counter market securities, provided that at any one time
Burrell and members of Burrell's immediate family do not own more than 3% (three
percent) of any voting securities of any such entity.

15.  Non-Solicitation. Burrell shall not directly or indirectly through his own
efforts or otherwise, during the term of this Agreement, and for a period of 12
months thereafter, employ, solicit to employ, or otherwise contract with, or in
any way retain the services of any employee or former employee of PVTD, if such
individual has provided professional or support services to the Company at any
time during this Agreement without the express written consent of the Company.
Burrell will not interfere with the relationship of the Company and any of its
employees and he will not attempt to divert from the company any business in
which the Company has been actively engaged during his employment.

16.  This Agreement constitutes the entire agreement between the parties and
contains all the agreements between them with respect to the subject matter
hereof. It also supersedes any and all other agreements or contracts, either
oral or written, between the parties with respect to the subject matter hereof.

17.  Except as otherwise specifically provided, the terms and conditions of this
Agreement may be amended at any time by mutual agreement of the parties,
provided that before any amendment shall be valid or effective it shall have
been reduced to writing and signed by Burrell and a majority of the members of
the Board.

18.  The invalidity or unenforceability of any particular provision of this
Agreement shall not affect its other provisions, and this Agreement shall be
construed in all respects as if such invalid or unenforceable provisions had
been omitted.

19.  This agreement shall be binding upon PVTD, its successors and assigns,
including, without limitation, any corporation into which the Company may be
merged or by which it may be acquired, and shall inure to the benefit of the
CEO, his administrators, executors, legatees, heirs and assigns.

20.  This Agreement shall be construed and enforced under and in accordance with
the laws of the State of Arizona.

<PAGE>
The undersigned has executed this Chief Executive Officer Employment Agreement
Contract effective as of the date set forth above.

Private Trading Systems, Inc.                C. Austin Burrell

/s/ Lindsay M. Smith                         /s/ C. Austin Burrell
----------------------------------           ----------------------------------
By:  Lindsay M. Smith
Its:  Chief Financial Officer

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