Executive Vice President
The Ruth Group
1.646.536.7006 [email protected]
Arbinet’s DirectAxcess Service Reaches First 1 Million Minute Day; Represents Over 3% of Total Minutes
New Brunswick, NJ, July 6, 2005 – Arbinet-thexchange, Inc. (Nasdaq: ARBX), the world’s leading electronic market for trading, routing and settling communications capacity, today announced that minutes traded on the Company’s DirectAxcessSM branded trading service exceeded one million minutes for the first time on Thursday, June 30, 2005. This represents over 3% of the total minutes traded on Arbinet on that day, and is above the Company’s target of 2%. The Company noted that the number of participating carriers and the number of end markets covered have both increased since the launch of DirectAxcess in May.
Arbinet is the leading electronic market for trading, routing and settling communications capacity. Members of the exchange, consisting primarily of communications service providers, buy and sell voice calls and Internet capacity based on route quality and price through its centralized, efficient and liquid marketplace. Members place orders through a web-based interface. Its fully automated, highly scalable trading platform matches these orders using proprietary software and delivers them through state-of-the-art facilities.
This press release contains "forward-looking statements" (within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended), including statements about the Company’s growth and future operating results derived from the DirectAxcessSM trading service. Various important risks and uncertainties may cause the Company’s actual results to differ materially from the results indicated by these forward- looking statements, including, without limitation: members (in particular, significant trading members) not trading on our exchange or utilizing our new and additional services (including data on thexchange, mobile on thexchange services, and DirectAxcessSM trading service); continued volatility in the volume and mix of trading activity; our uncertain and long member enrollment cycle; the failure to manage our credit risk; failure to manage our growth; competitive factors; system failures, human error and security breaches could cause the Company to lose members and expose it to liability; future government regulation; and the Company’s ability to obtain and enforce patent protection for our methods and technologies. For a further list and description of the risks and uncertainties the Company faces, please refer to the Company’s 10-K and other filings, which have been filed with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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120 Albany St. Tower II, Suite 450, New Brunswick, NJ 08901
phone: 732-509-9100, fax: 732-509-9101, website: www.arbinet.com.