Correlix Names Daniel Connell as CEO

Financial Data Industry Executive to Lead Company's Global Growth

Dec 15, 2010, 08:15 ET from Correlix Inc

NEW YORK, December 15, 2010 /PRNewswire/ -- Correlix Inc., the operator of the industry-leading RaceTeam(TM) service for monitoring, measuring and analyzing order and market data flows in real-time, announced today that the company has named Daniel Connell as its new Chief Executive Officer. Mr. Connell will be responsible for accelerating Correlix's global growth and extending the company's leadership position for Latency Intelligence solutions.

Mr. Connell brings to Correlix a wealth of executive leadership and experience in the global financial information markets. Mr. Connell served as Executive Managing Director at Standard & Poor's Information Services division for over ten years. Within that capacity, he also held the title of CEO of ComStock, the real-time provider of global market data, which was acquired by Interactive Data Corp (IDC). Post acquisition, Mr. Connell served as the CEO of IDC's Real-Time Services division. After that he was COO of Xinhua Finance, a global financial information and media company, and he most recently served as Executive in Residence at Spire Capital Partners.

"We are tremendously pleased to have an executive of Dan's caliber joining our management team and leading our company," said Shawn Melamed, Founder and President of Correlix. "His leadership experiences in real-time market data and electronic trading coupled with his twenty plus year career in the international financial information sector make him the ideal executive to grow Correlix in the global real-time latency intelligence market."

"In the global electronic trading environment, real-time latency transparency throughout the entire trade execution process is becoming a default requirement for creating competitive advantages. Correlix is on the forefront of monitoring technology and data provisioning that allows our clients to optimize their trading strategies, operations and low latency infrastructure," explained Daniel Connell, new CEO of Correlix. "We are proud that a number of high profile customers have recently joined our RaceTeam service and we have strong expectations for continued growth in the coming year and beyond."

Correlix also recently announced that a number of prominent capital market firms and exchange venues have joined the RaceTeam latency monitoring service, including NASDAQ OMX Nordic, part of the NASDAQ OMX group and the world's largest exchange company, Chicago Board Options Exchange (CBOE), the largest U.S. options exchange and creator of listed options, Lime Brokerage, an independent agency broker and leading provider of high throughput low latency technologies to the professional trading community, and Direct Edge, America's newest stock exchange.

About Correlix RaceTeam(TM)

RaceTeam is an objective latency measurement service that enables trading firms to manage and share real-time Latency Intelligence with their customers as well as receive objective real-time latency data from liquidity venues. The RaceTeam service facilitates greater trading latency insight into each transaction and leads to optimized trading strategies, improved customer service and streamlined operations.

About Correlix

Correlix Inc., a leader in latency intelligence solutions, offers RaceTeam(TM), the leading latency management service providing real-time latency visibility for the buy-side, sell-side and liquidity venues. Customers rely on Correlix to monitor, measure, and minimize latency in trade execution and market data flow in real-time. This empowers clients to execute a trade or deliver and act on market data in fastest possible manner. The company's global client base encompasses the world's largest high frequency trading firms and market centers as well as low latency service providers.

Correlix is headquartered in New York with offices in London and Israel. Correlix is backed by prominent venture capital groups Sequoia Capital, Genesis Partners, Blumberg Capital, Vernon & Park Capital, L.P. and Xenia Ventures.

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