NYFIX, Inc. Announces Millennium Buy-Back; Strong Growth in Executions.

Business Editors

STAMFORD, Conn.--(BUSINESS WIRE)--Jan. 8, 2002

NYFIX, Inc. (NASDAQ: NYFX) today announced that it is exercising its option to increase its ownership percentage of NYFIX Millennium LLC by 30%, bringing its total ownership to 80%.

This change is effective February 1, 2002. In exchange for the increased interest in NYFIX Millennium, NYFIX will pay the Millennium partners an aggregate of approximately 300,000 shares of NYFIX common stock.

In other news the Company said that it is experiencing strong growth in the daily volume and number of executions in NYFIX Millennium. The average number of daily executions since January 1, 2002 has increased to 2,584 per day, up several hundred percent from the average daily executions in the fourth quarter of 2001. The average price improvement is 3 cents per share against the "NBBO," the National Best Bid or Offer.

"With our option to increase ownership of NYFIX Millennium completed, we are able to consolidate Millennium's performance into NYFIX's results. We anticipate gaining strength in the Alternative Trading System marketplace for listed securities and this ownership structure will enable the Company as a whole to benefit from Millennium's expected expansion," commented Peter Kilbinger Hansen, Chief Executive Officer of NYFIX, Inc.

"While we have not broken the 10 million shares per day barrier, we firmly expect to do so during this quarter. The events of 9/11 clearly disrupted our rollout plans, but we are now steadily recruiting more customers and bringing existing and new customers into production. This includes a diverse group of firms engaged in institutional execution, online retail execution, statistical arbitrage players, regional specialists and options market makers," said Robert Gasser, Chief Executive Officer of NYFIX Millennium, LLC.

The NYFIX Millennium customer base now includes approximately 40 broker/dealers who interact with the Millennium order book on a daily basis. This does not include numerous new clients in the process of entering into on-line production.

"Also importantly, we continue to broaden the participation of existing users to include not only block trading desks but program trading, equity derivatives, proprietary trading and international equity trading as well. We expect our execution rate to climb steadily throughout 2002," added Robert Gasser.

NYFIX, Inc. (NASDAQ: NYFX) develops and markets advanced electronic trading systems to brokerage firms, international banks and global exchanges trading in equities and derivative instruments. The Company's NYFIX Network, a combined FIX (Financial Information eXchange Protocol) and Exchange Access Network, enables users to electronically communicate trade data among the buy-side, sell-side, and exchange floor environments. NYFIX is one of the world's largest electronic order routing networks.

NYFIX Millennium, L.L.C., the Broker-Dealer affiliate of NYFIX, Inc., is an Alternative Trading System (ATS) which aims to provide investors with a valuable tool for achieving best execution. NYFIX Millennium seeks to help investors achieve price improvement, ensure anonymity and reduce market fragmentation through the electronic linkage of various liquidity sources, including exchanges and ECNs. NYFIX Millennium complements the existing market structure while eliminating many of its inefficiencies. NYFIX Millennium leverages the NYFIX network's large order routing share volume to provide a more efficient liquidity source for the financial community.

Investors in NYFIX Millennium, L.L.C. include NYFIX, Inc., ABN Amro, Banc of America Securities, Deutsche Bank, JP Morgan, Lehman Brothers, Morgan Stanley, Sanford C. Bernstein & Co., Inc., SG Cowen Securities Corp., UBS Warburg and Wachovia Securities.

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.