Financial Fusion Inc. announced that Exane, one of Europe's independent brokers, has implemented Financial Fusion Server with GlobalFIX as part of its electronic-routing project in FIX mode. Financial Fusion Server with GlobalFIX is a fully integrated part of Exane's STP implementation. Exane chose Financial Fusion Server with GlobalFIX as part of its STP initiative to automate the processing of financial orders with its customers, and guarantee enhanced service quality, while handling bigger transaction volumes.
SolutionForge, the U.K.-based provider of financial straight-through-processing solutions, has announced, at the TradeTech conference in Paris, that it has been selected by Advent Software to provide an enhanced FIX-messaging module, based on its FIX.NET Server product, for Advent's automated-trading and order-management system, Moxy. Moxy is an integral part of Advent Office, Advent's suite of integrated, scalable and client-centric solutions, automating investment-management functions. The new FIX module will allow Moxy users to automatically execute trades with their broker or ECN and transmit allocation information.
NYFIX, Inc. announced its results of operations for the first quarter of 2002. Revenue for the first quarter ended March 31, 2002 increased to $10,070,533 from $8,422,151 in the same quarter last year. Earnings before income taxes totaled $160,099 compared to $2,432,367 for the same quarter last year. Adjusted pre-tax earnings excluding consolidation of NYFIX Millennium L.L.C., its broker/dealer subsidiary acquired on Feb. 1, 2002 were $1,922,590. Net earnings for the quarter totaled $97,746 ($0.00 per basic and diluted common share) compared to net earnings of $1,463,542 ($0.06 per basic and $0.05 per diluted common share) in the prior year quarter.