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

To: CF Rebel who wrote (9082)	11/16/2000 8:14:24 AM
From: TechMkt	Read Replies (1) \| Respond to of 15615

Global Crossing's IXnet Selected by Electronic Trading Systems Inc. to Provide Worldwide Broadband IP Connectivity NEW YORK--(BUSINESS WIRE)--Nov. 16, 2000-- Electronic Trading Systems Inc. To Deliver Trading Front End Execution Systems Exclusively Over IXnet's Global Financial Extranet IXnet, a Global Crossing Ltd. (NYSE: GX) company and provider of a high-performance global Extranet for the financial services community, announced today that it has entered into an exclusive agreement with Electronic Trading Systems (ETS) to deliver ETS's Internet Front End Execution System, the only electronic trading software in the world capable of trading online equities, foreign exchange, futures, and options from a single console, with connectivity to any global exchange. IXnet's customer base of more than 1,200 leading financial institutions in 44 global financial centers will be able to efficiently access ETS's core ASP technologies, offering real-time quotes and matching and settlement information to traders at their terminals anywhere in the world. ETS's applications are based on a tripartite arrangement combining an exchange, its members and clients, and the clearinghouse on-line, simultaneously and instantaneously. "With IXnet's secure Extranet, global distribution and scalable bandwidth, ETS doesn't have to worry about operating a network but can, instead, concentrate on adding value through our innovative core ASP technologies, customized applications and Electronic Communication Networks (ECNs)," David Schwartz, CEO of ETS, said. "We chose IXnet because they provide unparalleled service, reliability and distribution. IXnet will continue to play an integral role in our strategy to rapidly grow our business." "We are pleased to be able to expand the reach of ETS and to add another important ECN to our global Extranet," Jim Demitrieus, President of IXnet, said. "This is a win-win situation for IXnet's on-net customers and ETS, making innovative trading alternatives easily accessible to thousands of traders around the world while adding new participants and additional liquidity to ETS's trading environment. In addition, as part of the Global Crossing family, we bring tremendous, scalable bandwidth to ETS and its clients, and an unmatched ability to satisfy their requirement to connect participants seamlessly and reliably through a single, efficient network connection."