Fixnetix launches iX-Direct to provide the lowest latency solution available for direct market data

London, UK - 14 December 2006

iX-Direct the ultra low latency data solution cuts hundreds of milliseconds off data transmission times enabling traders to respond at speed

Fixnetix Ltd, the next generation market data telecommunications company, today launched a new ultra low latency data service, iX-Direct. iX-Direct shaves hundreds of milliseconds off data vendor transmission times allowing traders to achieve unrivalled data latency performance levels without the usual high cost of ownership.

“With the continuing rise of algorithmic trading and the drive to lower the cost of execution, financial institutions are demanding data faster, cleaner and with more depth. Until now they have had to either build out expensive infrastructures requiring large capital expenditure, and internal support and maintenance or accept traditional incumbent data vendor offerings that do not match the requirements of today’s market place,” says Hugh Hughes, Chief Executive Officer of Fixnetix. “Not so anymore. With iX-Direct, Fixnetix is the first company to offer an outsourced end-to-end market solution which provides the fastest data feeds with guaranteed service levels at a cost effective price.”

iX-Direct is delivered over a resilient global fibre network with simple plug in Ethernet connectivity and no data feed handlers or servers installed on site. This ensures minimal resource, easy integration and flexible data transformation to multiple vendor interfaces.

In addition to iX-Direct, financial institutions can take advantage of Fixnetix @Source co-location hosting at over 100+ data centres globally, eradicating the distance data travels from any exchange or trading venue.

Fixnetix provides direct data from major exchanges, Electronic Communication Networks (ECN’s), Multi Lateral Trading Facilities (MTF’s), Investment Banks (SI’s) & brokers throughout Europe, North America and Asia. Feeds cover equities, bonds, futures & options and FX markets.

With the introduction of MiFID (Markets in Financial Instruments Directive) in November 2007, the need to source, blend, capture and publish data has never been greater. Fixnetix can aggregate and map multiple iX-Direct feeds in real time into a single consolidated order book to enable financial institutions to comply with their best execution obligations.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development