FOR IMMEDIATE RELEASE
Arbinet Changes Name to Arbinet-thexchange, New Brand Emphasizes End-to-End Trading Services for Members
NEW YORK – May 31, 2000 – Arbinet Holdings, Inc., the leading online telecommunications exchange, today announced the launch of a new name, Arbinet-thexchange, Inc. The new name and logo emphasize thexchange’ s offering of an end-to-end service for on-demand, multilateral trading and automated physical delivery and settlement of minutes of telephony bandwidth.
“In our new name we describe ourselves as thexchange,” relates Anthony Craig, Arbinet-thexchange Chairman and CEO. “Exchanges for products develop when the economics no longer support the expense of a dedicated in-house infrastructure for the one-off trading of a commoditized product. According to industry reports, SG&A; costs in the telecommunications industry are 900 basis points higher than the US corporate average. We have developed a reliable, scalable, automated system that performs centralized trading, delivery and settlement services for our members, improving their profitability. Our marketplace provides incremental revenue opportunities for sellers, and trading on our exchange can help our members access multiple buyers and sellers, lower costs, increase speed, and reduce risk. These capabilities are summarized in our new brand; we are thexchange for our industry.”
Arbinet-thexchange’ s new logo graphically illustrates the company’ s mission. The two arrows that come together and intertwine signify that thexchange provides services that efficiently interconnect members’ networks—providing benefits to both parties.
Arbinet-thexchange has created an on-line trading exchange through which the telecommunications industry can buy, sell and physically deliver network capacity on demand. This is expressed in minutes of available calling time for international and domestic long-distance voice and fax calls. Thexchange is neutral, favoring neither buyers nor sellers, and allows participants to trade anonymously. Automated delivery is accomplished through the company’s switch by using advanced trading software and a set of patented processes to link the web-based trading platform with a carrier-grade telecommunications switch. Arbinet-thexchange handles all invoicing, collection and payment for trades effected on its exchange and provides continuous monitoring and on-line rating of the service quality of each seller’s network.
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