NYFIX, Inc., Announces the Addition of JP Morgan H&Q, Formerly Chase H&Q, JP Morgan & Co., and Banc of America Securities to the NYFIX Millennium, L.L.C. Partnership

Business Wire, April 2, 2001

Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--April 2, 2001

NYFIX, Inc. (NASDAQ: NYFX) announced the addition of new members to its NYFIX Millennium, L.L.C. partnership. NYFIX Millennium, the Company's broker/dealer affiliate and ATS (Alternative Trading System) has signed agreements with Banc of America Securities, JP Morgan & Co. and JP Morgan H&Q (formerly Chase H&Q) to join the NYFIX Millennium, L.L.C. partnership. NYFIX recently named First Union Securities as a new partner in the NYFIX Millennium partnership. With these newest members, the NYFIX Millennium partnership now includes 11 of the world's leading financial institutions. The original NYFIX Millennium partners include NYFIX, Inc., Deutsche Bank, ING Barings, Lehman Brothers, Morgan Stanley Dean Witter, Sanford C. Bernstein & Co., Inc., SG Cowen Securities Corp. and UBS Warburg. This expansion coincides with the ongoing roll-out of the NYFIX Millennium ATS to the broker/dealer community.

"We view our investment in NYFIX Millennium as an important strategic initiative. It has the potential, in our minds, to provide clients with an additional option for improving price, and ultimately, best execution," commented a senior official at JP Morgan & Co.

"Banc of America Securities seeks superior trade execution methods," said Kevin Chessen, Head of Equity Trading at Banc of America Securities. "NYFIX Millennium's mix of technology and strong partners makes the trading process more efficient, which decreases execution costs for both our clients and Banc of America Securities," added Mr. Chessen

By integrating the NYFIX Millennium ATS directly into the NYFIX Network, the Company is simplifying the simultaneous access to liquidity in NYFIX Millennium and the traditional listed markets. NYFIX Millennium's unique capability of exposing invisible and anonymous orders electronically pegged to underlying markets in real-time provides the professional trading community with the much needed ability to expose large trading orders to the market without causing counter productive price-swings.

Although the details of the agreements were not disclosed, the expansion of the partnership is done as a round-table style investment, with each partner contributing two million dollars. NYFIX, Inc. secured certain provisions to maintain its ownership ratio relative to the overall partnership.

NYFIX, Inc. (NASDAQ: NYFX) develops and markets advanced electronic trading systems to brokerage firms, international banks and global exchanges trading in equities and derivative instruments. The Company's NYFIX Network, a combined FIX (Financial Information eXchange Protocol) and Exchange Access Network, enables users to electronically communicate trade data among the buy-side, sell-side, and exchange floor environments. NYFIX is one of the financial community's fastest-growing intranets. With more than 1500 high-speed circuits and alternative routes, NYFIX processes approximately 400 - 750 million shares of equity order flow on a daily basis.

NYFIX Millennium L.L.C., the Broker-Dealer affiliate of NYFIX, Inc., is an Alternative Trading System (ATS) which aims to provide investors with a valuable tool for achieving best execution. NYFIX Millennium seeks to help investors achieve price improvement, ensure anonymity and reduce market fragmentation through the electronic linkage of various liquidity sources, including exchanges and ECNs. NYFIX Millennium complements the existing market structure while eliminating many of its inefficiencies. NYFIX Millennium leverages the NYFIX network's large order routing share volume to provide a more efficient liquidity source for the financial community. Investors in NYFIX Millennium, L.L.C. include NYFIX, Inc., Banc of America Securities, Deutsche Bank, First Union Securities, ING Barings, JP Morgan H&Q (formerly Chase H&Q), JP Morgan & Co., Lehman Brothers, Morgan Stanley Dean Witter, Sanford C. Bernstein & Co., Inc., SG Cowen Securities Corp. and UBS Warburg.

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 inclusion of 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.