American Stock Exchange selects Symbol Technologies' high-performance wireless network; The AMEX sets stage for elimination of order tickets by being the first to standardize on wireless LAN.BOHEMIA, N.Y.--(BUSINESS WIRE)--Sept. 18, 1995--For the first time, options brokers will issue buy-and-sell orders without their traditional hand signals and slips of paper. Information will be electronically communicated -- instantly and securely -- from member firms via a wireless network on the Trading Floor. Symbol Technologies, Inc. today announced that the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. has standardized on Spectrum24(TM), Symbol's high-capacity local area network (LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. ), to bring real-time information exchange directly to the trading floor. The move initially impacts options traders. Over time, equities trading also will be conducted on the wireless network. The AMEX AMEX See: American Stock Exchange is the first stock exchange to standardize on wireless networking See wireless network. technology. Standard Hardware, Software With Spectrum24, traders send and receive orders via radio frequency signals, using small, industry-standard hand-held computers to access information, to make "buy" and "sell" decisions and to execute trades. Because the Spectrum24 radio is an industry-standard, one-piece PC card complete with antenna, individual brokerage firms are free to select from among hand-held computers from a range of manufacturers. Individual terminals may be placed easily online when the Spectrum24 card is inserted in the device's PCMCIA (Personal Computer Memory Card International Association, San Jose, CA, www.pcmcia.org) An international standards body and trade association that was founded in 1989 to establish a standard for connecting peripherals to portable computers. PCMCIA created the PC Card. See PC Card. Type II expansion slot A receptacle inside a computer or other electronic system that accepts a printed circuit board. The number of slots determines future expansion. See PC data buses. (hardware) expansion slot - A connector in a computer into which an expansion card can be plugged. . AMEX Trading Floor personnel will be equipped with Symbol PPT 4100 hand-held pen terminals, which the Exchange will be making available to traders with a suite of business-specific applications developed for the lightweight and compact Symbol computer. Cone Software, Inc. is developing and integrating a fully redundant gateway software system to manage and govern information transmitted via the Spectrum24 network. 'New Era For AMEX' "This is a new era for the AMEX. Traders have instant position management and real-time access to their back office. This wireless link for traders on the floor is one of the most significant changes in operation of the AMEX since we adopted electronic order processing in the late 1960s," William Strauss, senior executive, vice president and chief financial officer of the American Stock Exchange, said. "Spectrum24's high data capacity, power conservation and ability to balance communications traffic greatly enhance our efficiency. Its open systems, industry-standard interoperability makes it ideal, with each trading firm having the freedom to select the hand-held terminal that best suits their needs," Strauss added. "We are pleased the American Stock Exchange has selected our Spectrum24 network for the very core of its business," said Dr. Jerome Swartz, chairman and chief executive officer, Symbol Technologies. "Spectrum24 provides precisely the wireless backbone necessary for mission-critical communications and industry-standard interoperability," Dr. Swartz added. Global Standard Spectrum24, operating at the global 2.4 GHz frequency standard, functions as a full wireless local area network and supports open hardware and software standards for easy integration with existing systems. It is the first high-performance wireless LAN A local area network that transmits over the air typically in the 2.4 GHz or 5 GHz unlicensed frequency band. It does not require line of sight between sender and receiver. Wireless base stations (access points) are wired to an Ethernet network and transmit a radio frequency over an area designed to support the forthcoming interoperability protocol of the IEEE (Institute of Electrical and Electronics Engineers, New York, www.ieee.org) A membership organization that includes engineers, scientists and students in electronics and allied fields. 802.11 committee, the wireless industry's standards development body. Based on a bridge architecture, Spectrum24 provides a transparent connection to an Ethernet LAN through multiple access points. Since 1983, Cone Software, based in Boothwyn, Pa., has delivered pen-based and wireless application systems for Fortune 100 companies in a variety of industries. Information is available from Cone Software at 610-497-0300. Customer information is available from Symbol at 1-800-SCAN-234. Symbol Technologies (NYSE NYSE See: New York Stock Exchange :SBL SBL Society of Biblical Literature SBL Symbol Technologies, Inc. (NYSE symbol) SBL Spamhaus Block List SBL Space-Based Laser SBL Securities Borrowing and Lending SBL Supreme Beings of Leisure (band) ) is the world leader in bar code-driven data transaction systems with more than three million scanners and portable computer terminals installed. The company designs, manufactures and markets radio frequency data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. networks, bar code reading equipment and portable computer terminals and that are used as strategic building blocks in information systems for retail, manufacturing, package and parcel delivery, warehousing and distribution and other industries. CONTACT: For press information: Doug Picker, Nancy Tully Arda Nazerian, Mary Sedarat Symbol Technologies American Stock Exchange 516/244-4191 212/306-1634 & 1635 or David Hastings David Hastings is a fictional character on NBC's daytime drama, Passions. David was played by actor Justin Carroll from 21 June 2001 to 16 March 2004. The role was temporarily played by Julian Stone in October 2003. Cone Software 610/497-0300 or For financial information: Michael G. Archambault Symbol Technologies 516/244- 4632 |
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