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NYFIX Expands IOI Reach with Acquisition

Traders Magazine, May 2008

Nina Mehta

Almost two years after rolling out its first indications-of-interest (IOI) product, NYFIX is upgrading its offering to cater to the changing needs of big traders. As part of this effort, NYFIX last month purchased FIXCITY, a U.K.-based technology firm, for $6.6 million in an all-cash deal. "This will accelerate our liquidity-seeking and liquidity-aggregation capabilities and hence our ability to execute orders for clients," chief executive Howard Edelstein told Traders Magazine.

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