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IDX Capital Announces Record First Half of 2009 from Credit Derivatives Trading

NEW YORK, Aug. 3 /PRNewswire/ -- IDX Capital, an electronic interdealer marketplace for credit derivatives, today confirmed a record second quarter and issued a statement commenting on recent market developments. Founder and CEO Jamie Cawley confirmed that IDX has grown revenue 60% quarter-over-quarter and projects a similar pace for the quarter ending in September.

"Our solid performance is consistent with meeting the needs of our clients. We are working to exceed the expectations of our shareholders and employees in this fast changing environment. We believe such dislocation breeds opportunity."

Over the last six months, the firm has hired aggressively on its Investment Grade & High Yield Credit Derivatives Desk as well as in its trading infrastructure and application management groups. The company's flagship offering, IDX Live, is a java-based central limit order book trading platform for the interdealer market.

The firm expects its growth to continue into second half of the year as its franchises in single name CDS, loan CDS, hybrids, & corporate bonds continue to grow.

"IDX Capital has been a longstanding proponent of using technology to promote transparency and lower transaction costs," Cawley added. "Our client's responsive to these values is clearly reflected in our record performance year-to-date."

As public outcry for change catalyzes regulatory reform, IDX has been at the forefront of market participants working to modernize the CDS trading ecosystem and mitigate systemic risk.

Launched in 2006, IDX Capital, LLC is an interdealer trading platform for credit default swaps matching buyers and sellers for a fee. IDX Capital has been a long-time pioneer of electronic trading, transparency and market-stabilizing initiatives in the credit default swaps space.

For more information please contact: Alexander Harrison, Managing Director, IDX Capital, 212-779-1612

SOURCE IDX Capital, LLC

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