The National Association of Securities Dealers (Nasd) has approved Nyfix's membership application for its transaction services subsidiary.
From 1 July 2002, Nyfix Transaction Services will provide execution and smart order routing solutions primarily to domestic and international broker-dealers and specialised trading firms.
Andy Wilson, president of Nyfix Transaction Services, says: "Nyfix Transaction Services will enable Nyfix to expand its market reach to international broker/dealers and specialised trading firms looking for high performance technology and market access on a transaction-fee basis."
Peter Kilbinger Hansen, president and chief executive officer of Nyfix, adds: "With multiple cross selling opportunities coming from our subsidiaries with clients in the US, Europe and the Far East, we have high expectations for the transaction side of the business."