NYFIX to Begin Trading Under Symbol NYFXE on Nasdaq
August 15 2005 - 5:07PM
PR Newswire (US)
STAMFORD, Conn., Aug. 15 /PRNewswire-FirstCall/ -- NYFIX, Inc.
(NASDAQ:NYFX), a leader in technology solutions for the financial
marketplace, today announced that its common stock will begin
trading under the symbol NYFXE effective Tuesday, August 16, 2005.
The addition of the "E" to the Company's trading symbol indicates
that the Company has not timely filed its Quarterly Report on Form
10-Q for the quarter ended June 30, 2005, as previously announced
by the Company. Based on the delay in filing of the Company's Form
10-Q, NASDAQ notified the Company on August 12, 2005 that the
Company is not in compliance with the NASDAQ listing requirements
(Marketplace Rule 4310(c)(14)). In accordance with the notification
and NASDAQ Marketplace Rules that outline the standard procedures
to obtain a hearing in these circumstances, the Company intends to
request, within seven days of the notification, a hearing with the
NASDAQ Listing Qualifications Panel for continued listing on the
NASDAQ National Market. The Company expects that its common stock
will remain listed on the NASDAQ National Market until the Panel
holds a hearing. There can be no assurance the Panel will grant the
Company's request for continued listing. As previously announced,
the delay is a result of the Company's review of the information
relating to its stock option grants and the related restatements of
its financial statements, filed on June 30, 2005. The review was
prompted by questions raised by Deloitte & Touche LLP, the
Company's independent registered public accounting firm, to the
Company's Audit Committee. As previously reported by the Company,
the SEC has initiated an inquiry into the Company's granting of
stock options. The Company, as directed by the Audit Committee, is
working as expeditiously as possible to complete its review. About
NYFIX, Inc. NYFIX, Inc. is an established provider to the domestic
and international financial markets of trading workstations,
middle-office trade automation technologies and trade communication
technologies. Our NYFIX Network is one of the industry's largest
networks, connecting broker-dealers, institutions and exchanges. In
addition to our headquarters in Stamford, we have offices on Wall
Street in New York City, in London's Financial District, in
Chicago, and in San Francisco. We operate redundant data centers in
the northeastern United States with additional data center hubs in
London, Amsterdam, Hong Kong and Tokyo. For more information,
please visit http://www.nyfix.com/. 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. DATASOURCE:
NYFIX, Inc. CONTACT: Jennifer Carberry of NYFIX, Inc.,
+1-203-425-8000, Web site: http://www.nyfix.com/
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