Press Release
Contact:
STC AssociatesCarolyn Robertson
212-725-1900 ext. 204
[email protected]
FOR IMMEDIATE RELEASE
Arbinet Appoints Former TD Waterhouse President, John H. Chapel, Senior Vice President of Trading
New Brunswick, New Jersey, USA, November 28, 2006 – Arbinet-thexchange, Inc. [Nasdaq: ARBX], the leading provider of solutions to simplify the exchange of digital communications, announced today the appointment of John H. Chapel as Senior Vice President of Trading. Mr. Chapel spent nearly 20 years at TD Waterhouse Group, where he helped build the company into the second largest discount brokerage firm in the country, with 140 branches in over 100 cities. As President of the U.S. Brokerage Division, he led efforts that resulted in the growth of TD Waterhouse’s customer base from 300,000 to more than 2.5 million and increased annual commission revenues by $420 million.
During his tenure at TD Waterhouse, Mr. Chapel also created and implemented the systems, processes and functions for its brokerage division, including the Internet transaction channel, which accomplished a 40-fold increase in daily trading.
Curt Hockemeier, President and Chief Executive Officer of Arbinet commented, “Helping Members trade more efficiently is the cornerstone of our business, and John’s expertise in designing and growing a successful trading organization makes him ideal to head our group. We look forward to John’s experienced leadership as we continue to grow liquidity for buyers and sellers on thexchange.”
Mr. Chapel was most recently President and CEO of Wall Street Connect LLC, where he was responsible for strategic direction and spearheaded the sales, marketing and technology divisions to profitability in just eighteen months. He also implemented a natural language speech recognition program to facilitate trading within the Broker Dealer community.
A graduate of Boston University with a B.S. in Business Management, Mr. Chapel has served on the Board of Directors of the Chicago Stock Exchange, Waterhouse Investor Services Inc. and Sterling Management Solutions, LLC.
About Arbinet
Arbinet solutions simplify the exchange of digital communications in a converging world. These include exchanges, a transaction management platform and managed services, which streamline performance and improve profitability for Members.
Arbinet’s 700+ voice and data Members, including the world’s 10 largest international carriers, use Arbinet’s Internet based electronic platforms to buy, sell, deliver and settle transactions valued at about $500 million in 2005. These Members include fixed, mobile and VoIP carriers, ISPs and content providers from more than 60 countries who exchange voice, data, content and value added services.
Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements about the Company’s strategic and business plans. 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: the effects and outcomes of the Company’s exploration of strategic alternatives; whether any of the strategic alternatives will result in enhanced shareholder value; members (in particular, significant trading members) not trading on our exchange or utilizing our new and additional services (including data on thexchange, DirectAxcess SM, PrivateExchange SM, AssuredAxcess SM, and PeeringSolutionsSM); continued volatility in the volume and mix of trading activity (including the average call duration and the mix of geographic markets traded); our uncertain and long member enrollment cycle; the failure to manage our credit risk; failure to manage our growth; pricing pressure; investment in our management team and investments in our personnel; system failures, human error and security breaches which could cause the Company to lose members and expose it to liability; 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 Amendment No. 1 to its Annual Report on Form 10-K/A and other filings, which have been filed with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise and such statements are current only as of the date they are made.
120 Albany St. Tower II, Suite 450, New Brunswick, NJ
08901
phone: 732-509-9100, fax: 732-509-9101, website: www.arbinet.com
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