While celebrating the company’s fifth anniversary, Max Wright, CEO of EMXCo, announced the first three consecutive months of profitable trading on the back of massive continued growth of the funds industry messaging system for orders, valuations and settlement.
From their first contract and 1000 messages a month in June 2000, through the early years of uncertainty, to EUR1.8 billion of funds orders flow and 625,000 messages in May 2005, Wright puts the success down to understanding that distribution drives the market so making the change to focus on the top 150 distributors/wholesalers and delivering them a faster, cheaper, safer and easier automated solution that is free and works, has been the key to gaining momentum.
Wright said, “I’d like to thank everyone, that’s staff, clients, suppliers and investors, who has been involved in getting us to the point where we have delivered profitable trading in a sustainable and independent business ahead of our expectations and in such a short time after start up.”
Wright added “It’s a simple concept of one set of data, keyed once, in one format, through one connection.”
Looking to the future, Wright said, “We’ll continue to lay track in the UK and, from our established foothold in Luxembourg, we have the capital and ambition to extend into other unitized products and European markets.”