Arbinet Acquires Band-X's IP Trading Exchanges in New York, London and Edinburgh; Expands Its Data on thexchange Marketplace.NEW BRUNSWICK New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. , N.J. -- Arbinet, the leading electronic market for communications trading, announced today that it has acquired Band-X's IP Trading Exchange business with more than 200 buyers and sellers in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , London and Edinburgh. This acquisition expands the geographic coverage of Arbinet's data on thexchange(SM) marketplace, launched in July in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . Data on thexchange enables Tier 1 and regional service providers, content aggregators, ISP's, cable operators, e-commerce businesses, gaming providers and enterprises to buy and sell Internet routes using Arbinet's automated trading system An automated trading system (ATS) is a computer trading program that automatically submits trades to an exchange. An example of an early ATS is Instinet. This allows traders to input trades invisibly to the market, with a crossing price determined by a VWAP measure. . The platform routes a buyer's traffic to sellers of the entire Internet or specific autonomous system numbers (ASNs) by its performance and price criteria, and consolidates billing and collections with one settlement. "We will integrate these Internet exchange See IXP and NAP. delivery points with our Los Angeles EDP (Electronic Data Processing) The first name used for the computer field. EDP - Electronic Data Processing to create an electronic market where over 225 industry buyers and sellers trade, route and settle Internet access See how to access the Internet. ," says Curt Hockemeier, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Arbinet. "We believe this acquisition will allow more buyers and sellers to improve profitability and cash flow by reducing their numbers of interconnections, reducing selling, legal, billing and collection expenses and eliminating disputes and bad debt," Hockemeier says. "Not only do we acquire new customers, facilities and equipment with this acquisition, we also gain a sales, support and technical team in these markets," adds Roger Kim, vice president data on thexchange. "We believe the acquisition will accelerate the growth of our exchange for Internet capacity." About Arbinet Arbinet is the leading electronic market for trading, routing and settling communications capacity. Members of our exchange, consisting primarily of communications service providers, anonymously buy and sell voice calls and Internet capacity based on route quality and price through our centralized, efficient and liquid marketplace. Members place orders through our web-based interface. Our fully-automated, highly-scalable trading platform matches these orders using our proprietary software and delivers them through our state-of-the-art facilities. For more information, visit Arbinet at www.arbinet.com. Disclaimer This press release shall not constitute an offer to sell securities or a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. |
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