John Fildes of Instinet Elected as Co-Chair of the FPL Global Steering Committee

22 December 2008

FIX Protocol Limited (FPL) is proud to announce that John Fildes, Managing Director of Instinet Pacific, has been elected as Co-Chair of the FIX Protocol Global Steering Committee. In this position, Mr. Fildes will work closely with Co-Chair Scott Atwell of American Century Investments to lead the FPL organisation as it continues to meet the evolving requirements of the world’s electronic trading markets.

Mr. Fildes has a wealth of experience within the financial services sector and currently holds operational responsibility for Instinet in Asia (excluding Japan). Prior to joining the firm he spent 10 years at Morgan Stanley in Hong Kong, where he held positions as Head of Equity Marketing and Head of Electronic and Program Trading for the Institutional Equity Division in Asia Pacific. He has also held various positions in Europe with the Financial Times Group, Standard and Poor’s and Reuters. Mr. Fildes has been an active member of the FPL Asia Pacific Regional Committee since 2000 and in December 2007 was elected as its Co-Chair. Within Asia Pacific, Mr. Fildes has been active in promoting the use of FIX by trading venues across the region, engaging regulators to ensure they are aware of the benefits that the protocol offers to their markets and speaking extensively at industry focused events about the advantages of electronic trading and the FIX Protocol.

Commenting on his recent election, Mr. Fildes stated, “I am very pleased to be given the opportunity to increase my participation in FPL. From a global perspective, I believe there are many opportunities for the FIX Protocol as new emerging markets are keen to adopt electronic trading practices and we need to ensure they receive the information needed to do so using FIX. Liquidity in the European and Asian markets is fragmenting and encouraging FIX adoption in a standardised manner is high on the FPL agenda, as are addressing the risk issues associated with electronic trading and improving implementation guidance. I look forward to working alongside Scott Atwell and continuing the significant work already in progress by the organisation.”

Scott Atwell, FPL Global Steering Committee Co-Chair added, “I would like to welcome John to his new position and feel his knowledge and experience will be of considerable benefit to the Committee. I would also like to take this opportunity to thank John’s predecessor, Richard Balarkas of Instinet, for his many contributions and dedicated leadership. We look forward to his continued involvement within FPL.”

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