Karachi Stock Exchange Implements the Mixit FIXTM Interface Offering FIX Protocol Based Messaging and Connectivity to Local and Global Financial Institutions

Karachi, Pakistan - 16 December 2009

By implementing the Mixit FIXTM Interface, the KSE provides a global connectivity standard enabling real-time transactions in an electronic, transparent, and cost efficient manner. FIX based connectivity will also facilitate high-speed market access to the international liquidity flowing into KSE.

The KSE adopts the FIX (Financial Information Exchange) Protocol by implementing the Mixit FIXTM Interface. FIX is the industry-driven messaging standard that is changing the face of the global financial services sector, as firms use the protocol to transact in an electronic, transparent, cost efficient and timely manner. A significant portion of global liquidity is transacted over FIX based connectivity and the major stock exchanges and investment banks use FIX for electronic trading, as do the world's largest mutual funds and money managers and thousands of smaller investment firms.

“The KSE has selected Mixit products for their robustness and maturity gained in the U.S. markets. This will standardize our offering enabling global reach hence providing mutual benefits to our members and their international trading partners,” said Adnan Afridi, MD, KSE.

“The Highly Available Mixit platforms include Mixit FIXTM and Mixit iFIXTM (automated FIX testing/certification) and provide the infrastructure and tools required to maintain a resilient, continuously available production environment. Members of the KSE can significantly increase performance and accuracy,” says Abdullah Jan, Head of IT, KSE.

“We are pleased to be partnering with the KSE to deliver full FIX capabilities to their members and international partners,” says Yusuf Jan, Partner & EVP, Mixit Inc.

“Powered by Mixit’s advanced FIX based technology, the KSE will be able to attract local, regional and global liquidity. This technology will enable KSE members to seamlessly interact with their automated trading platform and offer Direct Market Access (DMA) capabilities to international trading partners,” says Walter V. Fitzgerald, President & CEO, Mixit Inc.

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