Letter to the Editor

Firstly, IFX Markets Inc has been a fabulous investment for City Index, its revenues have grown in the past year by 70%, impressive by anyone's standards, and secondly the price paid by City Index for FX Solutions (in shares) reflects, in our opinion, the excellent revenue/profitability, technology and management the company brings.

We feel that once we have added a greater suite of products to our combined entities, in the form of indexes, commodities and equities, the City Index Group will be

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