NYFIX Millennium Names CEO: Robert Gasser, Former Head of US Equity Trading At JP Morgan

Business Wire, Oct 5, 2001

Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 5, 2001

NYFIX, Inc. (NASDAQ: NYFX) announced today that its Broker/Dealer affiliate, NYFIX Millennium, L.L.C., named Robert C. Gasser to the newly established post of Chief Executive Officer.

Mr. Gasser spent 14 years at JP Morgan & Co. in the firm's global equity business. He most recently served as Head of US Equity Trading. In that role, he was responsible for NASDAQ and Listed Trading, Program Sales and Trading, Convertible Sales and Trading as well as the firm's global equity e-commerce strategy. During his tenure at JP Morgan, Mr. Gasser served on various industry committees, including the Nasdaq Quality of Markets Committee and the NYSE Upstairs Traders Advisory Committee. In addition he directed the firm's investment in NYFIX Millennium and Archipelago, where he actively served on the Board of Managers.

"We believe Bob's leadership skills and abundant industry experience will bring serious drive to the delivery of the next phase of growth in NYFIX Millennium L.L.C. In addition to extensive trading and management experience, he brings many valuable relationships and a great depth of market knowledge," commented Peter Kilbinger Hansen, Chief Executive Officer of NYFIX, Inc.

"I am excited to join the NYFIX Millennium team," said Mr. Gasser. "NYFIX brings unique and valuable human, technological and client assets to the Millennium endeavor. Our team is confident that we will build one of the leading execution venues providing significant enduring value to our clients, shareholders and a broad scope of market constituents."

"We put together a top-notch team of employees and partners and took NYFIX Millennium successfully past the starting line and into full operation. We are now expanding our team with the kind of top professional management talent that will allow us to take Millennium towards its ultimate potential," stated Dean Stamos, President of NYFIX Millennium L.L.C.

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 world's largest electronic order routing networks.

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., ABN Amro, Banc of America Securities, Deutsche Bank, First Union Securities, JP Morgan, Lehman Brothers, Morgan Stanley, 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.