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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: TechMkt who wrote (8707)	10/24/2000 7:17:27 AM
From: TechMkt	Respond to of 15615

Any yet another customer. Fez _________________________ Global Crossing's IXnet Selected by TRADESCAPE.com Inc. to Host and Deliver Leading Next-Generation Direct Access Trading Platforms and Technologies NEW YORK--(BUSINESS WIRE)--Oct. 24, 2000-- Thousands to Access TRADESCAPE.com's Products & Technologies Over Global Crossing's IP-Based Financial Extranet IXnet, a Global Crossing Ltd. (NASDAQ:GBLX) company and provider of a high-performance global Extranet for the financial servi es community, announced today that TRADESCAPE.com(TM), Inc., a world leader in direct-access trading, has signed a three-year agreement with IXnet to host and distribute its complete range of premier trading technologies and applications. The world of professional electronic investors on IXnet's secure global financial Extranet, which reaches more than 1,400 leading financial institutions in 44 financial centers, will be able to efficiently access TRADESCAPE.com's next generation brokerage, execution and trading technologies. Active individual traders will be able to access many of those same technologies over the Internet. IXnet will host and manage a range of TRADESCAPE's solutions and connect TRADESCAPE customers through the Financial Extranet and through the Internet. IXnet will enable direct access to TRADESCAPE's advanced trading software platforms used by over one-thousand professional on-site traders. This trading platform allows remote traders to experience the superior software functionality and performance formerly only available to on-site trading floors. TRADESCAPE employs Smart Order Routing Technology(SM) (SORT(SM)) to analyze the connected markets using proprietary algorithms that combine variables such as latency and liquidity. Its Electronic Communication Portal(SM) (ECP(SM)) offers traders a single point of access to multiple sources oh liquidity by consolidating the ECNs, Nasdaq, NYSE and regional market information into one interface for execution and data. Access to all of TRADESCAPE's systems will be available worldwide over the IXnet Extranet. TRADESCAPE's proprietary technologies and policy of neutrality, flexibility and compatibility with existing systems and protocols positions the company as the preeminent next-generation brokerage, execution and trading technology firm. "We've been a customer of IXnet since the inception of our company," said Scott Graczyk, co-president, TRADESCAPE.com Institutional, "and look forward to continuing to grow with them. While IXnet has focused on developing the global Extranet, we have focused on creating a proprietary technology which creates unlimited venues for electronic commerce. TRADESCAPE has enabled a true connection from end-to end between the consumer and the markets, ECNs, Nasdaq and NYSE and the IXnet Extranet makes the implementation of that model possible in an efficient, immediate way. We have successfully grown our business strategies, and look forward to an even greater acceleration with IXnet as a business partner over the next several years." "The strategic fit creates a win-win-win situation," said Jim Demitrieus, president, IXnet. "This is a win for TRADESCAPE.com because it will have immediate access to the thousands of firms already on our Extranet, and the benefit of a fully managed solution, from hosting to distribution to customer service. This is a win for our on-net customers who, through a single existing IXnet connection, can receive all the benefits connectivity to TRADESCAPE.com delivers to its traders in an efficient, secure way. This is clearly of course a big win for IXnet and Global Crossing, whose mission it is to provide the finest global IP-based optical network capable of delivering the most compelling content to business professionals around the world." Demitrieus continued, "With our global IP-based optical network, advanced technologies available through the Financial Extranet, and our intense commitment to understanding and meeting the specific needs of the financial services community, IXnet has all the necessary elements in place to deliver a comprehensive, super-efficient global network solution for TRADESCAPE." TRADESCAPE's recent acquisition of MarketXT created a revolutionary network, enhancing market access for retail customers who use MarketXT for access to extended-hours trading, as well as active investors using the TRADESCAPE.com software platforms to execute trades. The merger created a robust platform that has extended the direct access model with SORT to institutional investors. IXnet was the network services provider for MarketXT when it was launched in 1999.