NYFIX to Begin Trading Under Symbol NYFXE on Nasdaq
03 April 2004 - 9:05AM
PR Newswire (US)
NYFIX to Begin Trading Under Symbol NYFXE on Nasdaq STAMFORD,
Conn., April 2 /PRNewswire-FirstCall/ -- NYFIX, Inc. , a leader in
technology solutions for the financial marketplace, today announced
that its common stock will begintrading under the symbol NYFXE
effective Monday, April 5, 2004. The addition of the "E" to the
company's trading symbol indicates that the Company has not timely
filed its Annual Report on Form 10-K for the year ended December
31, 2003, as previously announced by the Company. Based on the
delay in filing of the Company's Form 10-K, NASDAQ notified the
Company on April 1, 2004 that the Company is not in compliance with
the NASDAQ listing requirements (Marketplace Rule 4310(c)(14)). In
accordance withthe notification and NASDAQ Marketplace Rules that
outline the standard procedures to obtain a hearing in these
circumstances, the Company intends to request, within seven days of
the notification, a hearing with the NASDAQ Listing Qualifications
Panelfor continued listing on the NASDAQ National Market. The
Company expects to be granted a hearing within three to four weeks
of its request, during which time the Company's common stock will
remain listed on the NASDAQ National Market. As previously
announced, the delay in the filing of the Company's Form 10- K is a
result of the Company's ongoing discussions with the staff of the
SEC's Division of Corporation Finance regarding the Company's
accounting for its investment in and acquisition of its 80%-owned
subsidiary, NYFIX Millennium, L.L.C. ("NYFIX Millennium"). The
discussions are part of the comment process in connection with the
SEC's review of a registration statement on Form S-3 filed by the
Company in 2003. As a result of these discussions, the Company
intends to restate its audited results for the years ended December
31, 1999 through 2002 to change the manner in which it accounted
for the 1999 original investment in, and 2002 acquisition of an
additional interest of, NYFIX Millennium. The Company is working
expeditiously to complete that restatement and to file its Form
10-K. About NYFIX, Inc. NYFIX, Inc. through its subsidiaries and
affiliate provides electronic trading technology infrastructure and
execution services to brokerage firms and institutional investors.
NYFIX products and services automate trading workflows by
streamlining data entry and seamlessly integrate electronic order
and execution handling. NYFIX offers a complete electronic desktop
order management solution, stationary and wireless handheld
exchange floor technology; FIX (Financial Information eXchange
Protocol) messaging and monitoring tools and a high volume trade
execution platform. Its products deliver straight through
processing ("STP") for front, middle and back office trade
transaction processing. NYFIX maintains multiple data centers and
an extensive network of electronic circuits that link industry
participants for electronic trade communication and provides access
to the global equities and derivatives financial markets. NYFIX, a
pioneer in the FIX-based solutions offers a FIX-compliant product
suite. NYFIX's core technology, which includes equity solutions for
listed and over-the-counter markets, derivatives and future
products and Javelin's Appia and Instant Integrator products, are
complemented by NYFIX's broker-dealer operations, which offers its
NYFIX Millennium ATS and trade execution services. Headquartered in
Stamford, Connecticut, NYFIX has additional offices in New York
City, Chicago, San Francisco, London and Madrid. For more
information, please visit http://www.nyfix.com/ and
http://www.javtech.com/. 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. Investors are
cautioned that all forward-looking statements involve risks and
uncertainty, including without limitation, the ability of the
Company to market and develop its products. Although the Company
believes that the assumptions underlying the forward-looking
statements contained herein are reasonable, any of the assumptions
could be inaccurate, and therefore, there can be no assurance that
the forward-looking statements included in this press release will
prove to be accurate. In light of the significant uncertainties
inherent in the forward- looking statements included herein, the
inclusionof such information should not be regarded as a
representation by the Company or any other person that the
objectives and plans of the Company will be achieved. DATASOURCE:
NYFIX, Inc. CONTACT: Jennifer Carberry of NYFIX, Inc.,
+1-203-425-8000, Web site: http://www.nyfix.com/
Copyright