Citi and Credit Suisse Among the First Clients to go Live

LONDON and NEW YORK, March 17 /PRNewswire-FirstCall/ -- NYFIX, Inc. (Nasdaq: NYFX), a trusted provider of innovative solutions that optimise trading efficiency, today announced the successful launch of Euro Millennium(TM), a neutral dark pool of liquidity for pan-European listed cash equities. This strategically significant event extends NYFIX's track record of delivering innovative services that meet the demands of its global client community.

The European equity markets are undergoing dramatic change driven by two major catalysts. First, significant regulatory changes, such as the implementation of MiFID[1], have removed barriers to cross-border and off-exchange trading in Europe. Second, European markets are witnessing growth in the use of electronic and algorithmic trading, leading to significantly increased trade volumes. Into this dynamic marketplace, NYFIX has launched Euro Millennium, aimed at supporting the needs of both sell-side and buy-side clients in Europe seeking to adapt to and to take advantage of this changing market environment.

Euro Millennium is the first truly open European dark pool. Euro Millennium currently matches UK-listed equities, and will be rolling out other major European markets over the course of 2008. Euro Millennium is built upon the proven technology that powers NYFIX Millennium(R), a leading independent US dark pool in operation for the past seven years.

Euro Millennium allows participation from both buy-side and sell-side firms seeking price improvement and minimal market impact. The service was developed with the direct participation of an Advisory Board which worked with NYFIX for nearly a year. Members of the Advisory Board include Allianz Global Investors KAG mbH, Baring Asset Management, BNP Paribas Securities Services, Citi, CA Cheuvreux, Credit Suisse, DWS Investments, Insight Investment, JPMorgan Asset Management, JPMorgan, Merrill Lynch, Resolution Asset Management, Schroder Investment Management and UBS.

Commenting on the launch, Howard Edelstein, CEO, NYFIX said: "This is an exciting day for NYFIX and marks a significant milestone in our determined drive to remain at the forefront of global trading technology. With seven years of experience operating a dark pool in the US, we have witnessed how technological innovation has enabled clients to keep pace with the requirements of a constantly changing market place. Euro Millennium was designed to provide our European client base with a service that offers an ability to deploy new trading strategies across Europe by tapping into a new pool of liquidity."

Credit Suisse was the first client to successfully match a live trade on this new dark liquidity venue using its industry-leading Advanced Execution Services (AES) algorithms on the first day of operation. "We are delighted to be the first participant in this new dark venue and we support Euro Millennium's aim to widen the competitive landscape among exchanges and alternative trading venues in Europe. As a member of the Euro Millennium Advisory Board, we are confident that the service supports our drive to achieve best execution for our clients and we believe a collaborative approach to harnessing dark liquidity in Europe is the best way to satisfy our clients' execution performance objectives," said Naseer Al-Khudairi, Co-head of Cash Trading at Credit Suisse.

Richard Evans, Global Head of Citi Electronic Execution added "We are delighted to support NYFIX and further increase the liquidity options open to our clients through their new platform. Citi is committed to providing leading edge solutions to allow our clients to access the maximum available liquidity pools via our algorithmic trading and market leading smart order routing products across the globe."

Adding to this, Chris Smith, Director, NYFIX International, said: "Euro Millennium was born out of a committed year-long partnership with buy-side and sell-side participants who have provided valuable advice and feedback through our Advisory Board. As the only truly open European dark pool, we are very proud that Euro Millennium reflects the rapidly evolving needs of our clients in today's environment of dramatic regulatory change and increased competition."

About NYFIX, Inc.

A pioneer in electronic trading solutions, NYFIX continues to transform trading through innovation. The NYFIX Marketplace(TM) is a global community of trading counterparties utilising innovative services that optimise the business of trading. NYFIX Millennium provides the Marketplace community with new methods of accessing liquidity. NYFIX also provides value added information and analytic services and powerful tools for measuring execution quality. A trusted business partner to buy-side and sell-side alike, NYFIX enables ultra-low touch, low impact market access and end-to-end transaction processing. NYFIX International Limited, a subsidiary of NYFIX, Inc., is the operator of Euro Millennium, and is authorised and regulated by the UK Financial Services Authority, FRN 400884. Please visit http://www.nyfix.com for more information about NYFIX and http://www.thinkliquidity.com for more information about Euro Millennium

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Actual future events, circumstances, performance and trends could materially differ from those set forth in these statements due to various factors, including but not limited to: general economic conditions; the effects of current, pending and future legislation; regulation and regulatory actions; actions and initiatives by both current and future competitors; our ability to accommodate increased levels of trading activity and keep current with market data requirements; the risks related to the ability of NYFIX to develop and market its products and services; NYFIX's success in obtaining, retaining and selling additional products and services to clients; the pricing of products and services; stock market activity; the ability of NYFIX's Transaction Services Division to maintain third-party assistance to access exchanges and other important trading venues; changes in technology; the availability of skilled technical associates; the ability of NYFIX to obtain necessary network equipment, technical support or other telecommunications services or being forced to pay higher prices for such equipment, support or services; and the impact of new acquisitions and divestitures; and other risks and uncertainties including those detailed in our SEC filings; as well as future decisions by us. There can be no assurance that the forward-looking statements will prove to be accurate and the inclusion of such information should not be regarded as a representation by NYFIX or any other person that the objectives and plans of NYFIX will be achieved. In addition, the forward-looking statements included in this press release represent NYFIX's views as of March 17, 2008. NYFIX anticipates that subsequent events and developments will cause NYFIX's views to change. However, while NYFIX may elect to update these forward-looking statements at some point in the future, NYFIX specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing NYFIX's views as of any date subsequent to March 17, 2008. All trademarks, trade names, logos, and service marks referenced herein belong to NYFIX, Inc.

[1]. MiFID, (Markets in Financial Instruments Directive) introduced changes to financial markets regulation, creating competition and transparency within the European financial markets.

SOURCE NYFIX 03/17/2008
CONTACT: Contact: For Media, London, Greentarget, Melissa Rowling,
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Communications, Jed F. Hamilton, +1-212-754-5479
(NYFX)

03/17/2008 05:00 EDT http://www.prnewswire.com