BRASS Reaches Trade Volume Milestone of One Million Trades in One Day.WEEHAWKEN, N.J.--(BUSINESS WIRE)--Dec. 17, 1999-- Automated Securities Clearance, Ltd. announced that its BRASS Transmission Service, the premier sell-side equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as system, has exceeded the trade processing milestone of over one million trades within a single day. On Dec. 9, 1999, service bureau customers of the BRASS Transmission Service collectively executed over 1.1 million trades using the BRASS program and all licensees of the BRASS Transmission Service collectively executed over 1.75 million trades using the BRASS program. "This milestone is a strong testament to the BRASS Transmission Service's ability to support and process high trading volumes for all ranges of clients, from small regional firms up to the largest market makers in the world," said Thomas King, president of Automated Securities Clearance, Ltd., on the BRASS Transmission Service volume milestone. A separate order routing network product offered by ASC ASC Ambulatory surgery center, see there , BNET BNET Battle.net (Blizzard Entertainment) bnet Bungie.net BNET Bentley Intranet BNET Billy Noguera Entertainment Group Inc. BNET Britain-Nigeria Educational Trust (the BRASS Network), which enables institutions and broker/dealers to direct order flow to one another, also set an order execution volume milestone on Dec. 9, 1999. Over one quarter of a million of the orders sent into BNET received executions. On the milestone reached by BNET, Mr. King stated "This is indicative of BNET's enormous liquidity pool and demonstrates what a valuable tool the BNET service can offer to all institutions and broker/dealers. A network like BNET can only positively support a broker/dealer's or institution's efforts to achieve best execution." Automated Securities Clearance is an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of SunGard Data Systems Inc., the only large specialized provider of propriety investment support systems and the pioneer and leading provider of comprehensive computer disaster recovery services. SunGard's stock is listed on the New York Stock Exchanges New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. . |
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