FIX CITY LAUNCHES IOINET TO US MARKET

FIX CITY Opens New York Office to Roll Out its ioinet Solution, for Targeted Distribution of Indications of Interest and Trade Adverts, to Leading US Buy- and Sell-Side Firms

London, UK, 6 March, 2006 – FIX CITY, an independent software provider of FIX IOI solutions and a market leader in the UK and Europe, today launched ioinet, its web-based Indication of Interest (IOI) distribution product, to the US market, and announced the opening of its New York City office in Manhattan’s financial district.

FIX CITY’s launch to the US market is backed up by the selection of ioinet by the US brokerage arms of several leading global investment banks and a number of buy-side firms. Among them, the US brokerage arm of UBS Investment Bank has selected the solution to provide targeted distribution of IOIs to ioinet’s community of buy-side firms.

ioinet’s extension to the US is in response to the increasing demand for targeted IOI solutions. As buy- and sell-side firms seek to meet the ongoing challenges of the growing volumes of pre-trade data, ioinet takes a new approach to the search for liquidity. ioinet significantly reduces IOI distribution costs as, unlike other IOI distribution solutions which charge per message, ioinet is priced on a per-destination basis. FIX CITY’s competitive fee structure ensures sell-side firms do not incur additional costs for keeping their IOIs up-to-date.

The solution allows buy-side dealers to navigate large volumes of IOIs via sophisticated analytical and filtering tools, to quickly locate past and present liquidity for preferred securities. It enables users to specify which stocks are of interest, and proactively notifies them of IOIs for those stocks, eliminating manual searches and allowing dealers to focus on their core trading activities. ioinet’s filters can be continuously modified as an organisation’s trading objectives change. Through ioinet, IOIs can also be routed to buy-side firms’ FIX-enabled Order Management Systems (OMS).

ioinet’s unique IOI and historical Trade Adverts (TAs) Correlation Viewer shows current and past liquidity in one place, revealing brokers’ actual traded volumes and indicated liquidity and enabling buy-side dealers to make informed and timely trading decisions.

Paul Scott, Director, FIX CITY, comments: “We have extended our offering to the US due to demand for a sophisticated IOI delivery tool. In addition to substantial cost savings with its per destination pricing structure, ioinet’s unique filtering and analysis capabilities enable finely-targeted, high quality IOI messaging.”

Amy Muddimer, Director, FIX CITY, adds: “We aim to rapidly expand our community of US buy- and sell-side firms with our initial focus on extending the offering to the US-based operations of our existing global investment bank client base. Through our newly opened US operations, FIX CITY will demonstrate ioinet’s ability to streamline the search for liquidity, enabling buy-side firms to quickly and effectively capitalise on market opportunities.”

To support the growth of its US client base, FIX CITY has also expanded its team of global sales and technical support professionals.

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