Javelin reports FIX product sales

Javelin reports FIX product sales

FIX engine supplier Javelin says it added 76 new clients during 2002 plus an additional 60 installations through order management system partners.

The New York-based firm is reporting 59 new clients for its flagship product Appia, including one of the world's leading investment bank and 17 customers for the ASP-based FIXBox with Instant Integrator. Javelin now claims over 350 direct customers and 400 indirect clients for its FIX engine software worldwide.

The company reported a 32% revenue rise for Q4, even as parent Nyfix posted a net loss of $3.2 million for the year ending December 2002. Nyfix is expecting an upturn in activity as cross-sales from the merger kick in. The company says that 20 of Javelin's buy-side customers have connected to the NYFIX Network, which is utilised by more than 250 participating brokers and was expanded to the buyside in August 2002.

John Coulter, Javelin Technologies president and COO, comments: "Javelin and Nyfix offer buy-side institutions a full set of electronic trading solutions which include on-site or hosted FIX technology, network connectivity, FIX routing and certification and execution services."

Javelin has announced plans to release two new product offerings based around the Appia package. Slated for production at the end of the second quarter is a trade monitoring and alerting module that is aimed at larger financial institutions needing to streamline FIX engine administration while enabling traders to run data reports and analytics through a Web-based interface. In addition, Javelin is developing a FIX certification offering that will utilise the Nyfix Network and Appia to make it easier for customers to be up and trading in less time.

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