Correlix will use the new financing to further enrich its Latency Intelligence solutions and to expand globally to meet the demands of its growing, global customer base.

"Over the past year we have seen the value of our RaceTeam service rise substantially as major players in the capital markets industry increasingly understand the strategic and economic value of our real-time order and latency monitoring solutions." said Shawn Melamed, Correlix founder and CEO. "We are also pleased by our investors' confidence and their continued support, and the additional funding will enable us to more aggressively pursue our goals", continued Melamed.

In addition, Correlix announced today the hiring of Richard Wilkins as Vice President of Sales.In this role, Mr. Wilkins will be responsible for the oversight and implementation of the global sales efforts as well as the facilitation of strategic partnerships.

Mr. Wilkins brings to Correlix a wealth of executive leadership and experience in electronic trading. As one of the first employees, Mr. Wilkins has served as Vice President of Sales for the Island ECN. Island grew from a start-up into the largest market for trading Nasdaq-listed stocks in the U.S., until being acquired by Instinet. After the merger, Mr. Wilkins was named Head of Sales for the combined market named INET ATS, which later sold to NASDAQ. Mr. Wilkins has also served in senior roles at several firms, and has helped start up other venues such as the ISE Stock Exchange, Ballista Securities, and several technology and electronic trading firms.