2.1.2009 |
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IDX Capital Confirms Rapid Revenue Growth in Recent Months
NEW YORK -- IDX Capital, an electronic interdealer broker of credit derivatives, announced today that it has closed out a record month in January. The firm's January revenues mark the highest one-month figure in IDX's short history. That figure represents double digit growth over December 2008 revenues, a topline number which had already confirmed a strong finish to a volatile year. IDX is a profitable, rapidly growing company.
"Despite extreme dislocation in the credit markets, we continue to execute on our growth plan at present," noted Jamie Cawley, CEO of IDX Capital. "As the market structure in credit default swaps continues to evolve, we have responded strategically to meet the needs of our clients.
"Booking the single largest month in IDX Capital's history, after a robust December, is evidence of that focus," observed Cawley.
This announcement comes on the heels of IDX relocating to larger office space and the hiring of several new brokers as well as two Managing Directors, late last year. "This is an exciting time for the firm, and January's results are indicative of how my desk is approaching this year," said Brady Halper, a Managing Director on the Investment Grade & High Yield Credit Derivatives Desk. Halper also noted the recent hiring of Greg Pasciucco, who joins the brokerage team from MarketAxess, an electronic trading platform for fixed income products.
Launched in late 2005, IDX Capital, LLC is an interdealer broker of 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.
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