NEW YORK, October 4, 2006 – NYFIX Inc. (Pink Sheets: NYFX) today announced an agreement with Paladyne Systems, LLC., a leading provider of integrated and hosted front-to- back-office technology suite to the hedge fund industry, to provide FIX connectivity under its “Powered by NYFIX™” hosted solutions platform.
As a result of the agreement, Paladyne will extend its offering by providing its ASP clients with access to FIX connectivity for electronic trading and order routing over the NYFIX Network, one of the industry’s largest FIX networks with over 450 trading counterparties. In addition, as part of the agreement, Paladyne clients will also have fully integrated access to NYFIX Millennium®, a leading provider of dark pool liquidity, and NEXAS™, a suite of algorithmic trading solutions offered by NYFIX Transaction Services.
Paladyne clients will also be able to take advantage of NYFIX Natural™, which buy-side firms use to communicate Indications of Interest (IOIs) to each other. Additionally, Paladyne’s clients will have access to Millennium advertised trades, as well as integrated broker natural IOIs, via the NYFIX IOI package.
"The “Powered by NYFIX” offering enables users to seamlessly integrate the NYFIX Network with their proprietary technology,” said Barry Smith, Senior Vice President for Business Development at NYFIX. “By leveraging Paladyne’s hosted ASP solution, we expect to reach a large number of hedge funds that want a turn-key electronic trading and order routing solution.”
"When we considered all the capabilities NYFIX could offer our clients, they were a logical choice as a technology and connectivity partner,” said Sameer Shalaby, Chief Executive Officer for Paladyne. “By integrating NYFIX into the PALADYNE™ suite, we now extend our front-to-back-office solution to include comprehensive order routing and execution capabilities.”
About NYFIX, Inc.
NYFIX, Inc. is an established provider to the domestic and international financial markets of trading workstations, trade automation and communication technologies, and through its registered broker-dealer subsidiaries, execution services. Our NYFIX Network is one of the industry's largest FIX networks, connecting broker-dealers, institutions and exchanges. We maintain our principal office on Wall Street in New York City, with other offices in Stamford, CT, London's Financial District and San Francisco. We operate redundant data centers in the metropolitan New York City area, with additional data center hubs in London, Amsterdam, Hong Kong and Tokyo. For more information, please visit www.nyfix.com.
About Paladyne Systems
Paladyne Systems, Inc. (www.paladyne.com), a leading global solutions provider for the hedge fund industry, develops and distributes technology designed to streamline hedge fund operations while providing business efficiency and cost savings throughout the organization. Paladyne offers a fully-hosted technology platform known as the PALADYNE™ suite which is capable of supporting the front- to back-office requirements of today’s most comprehensive hedge funds. The PALADYNE™ suite is an integrated set of applications including: order management, portfolio management, general ledger, global security master, pricing and valuation, data warehousing, and custom reporting. Paladyne was founded in 2005 through an acquisition of its technology platform from a large US-based multi-strategy hedge fund.
CONTACT:
Media Contacts
Scott Alderson, Paladyne US Sales
(212) 616-4306
salderson@paladynesys.com
David Simmonds, Paladyne European Sales
+44 (0) 20 7153 4958
dsimmonds@paladynesys.com
Lisa Jane O'Neil, Paladyne Media
212-786-7629 or 917-361-8303
lisajane@ljoassociates.com
NYFIX, Inc.
Christine Gildea, SVP Marketing
646-525-3180
Christine.Gildea@nyfix.com
Matt Zachowski, Intermarket Public Relations
(212) 754-5452
matt@intermarket.com