Chicago Board of Trade to purchase 1,700 digital exchange floor phones from V Band.ELMSFORD, N.Y.--(BUSINESS WIRE)--Nov. 1, 1994--V Band Corp. (NASDAQ/NML:VBAN) announced today that the Chicago Board of Trade Chicago Board of Trade (CBOT) The second largest futures exchange in the US, and a pioneer in the development of financial futures and options. (CBOT See Chicago Board of Trade. CBOT See Chicago Board of Trade (CBOT). ), the world's leading futures exchange Futures Exchange Traditionally, a term referring to a central marketplace where futures contracts and options on futures contracts are traded. More recently, with the growth in electronic trading, it is also used to describe the activity of futures trading itself. , has signed an agreement to purchase a major trading floor communications system In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. that includes approximately 1,700 custom-designed V Band exchange floor phones and various peripheral equipment in a transaction valued at over $9 million. The new CBOT exchange phones employ the technology base used in V Band's most advanced digital trading console -- the Power Deck. Construction on CBOT's new, state-of-the-art telecommunications facility In telecommunication, the term facility has the following meanings: 1. A fixed, mobile, or transportable structure, including (a) all installed electrical and electronic wiring, cabling, and equipment and (b) all supporting structures, such as utility, ground network, will begin immediately. CBOT plans phased installation of the exchange floor phones beginning in the second quarter of 1995. Once completed in mid-1996, it will be the largest digital trading floor communications system in the world. V Band Corp. will also be providing full installation services, including project management and cabling for the 9,000 line communications system. Thomas E. Feil, chairman and chief executive officer of V Band Corp. commented, "For V Band, the signing of this contract represents the culmination of an eighteen month, highly competitive bidding Competitive bidding A securities offering process in which securities firms submit competing bids to the issuer for the securities the issuer wishes to sell. competitive bidding 1. process. Our ability to win this major transaction underscores both our company's engineering strength and the viability of the Power Deck technology platform." CBOT Chairman Patrick H. Arbor said, "It is our goal to provide the most efficient and cost-effective markets for our member and customers. This system will help us maintain that goal." Chris Hehmeyer, chairman of the CBOT Telecommunications Subcommittee, added, "Once this system is installed and operating, it will propel the Chicago Board of Trade ahead of all other exchanges in providing reliable, responsive, and flexible telephone service to our members on the trading floors." V Band is a leading supplier of turnkey instant access voice trading systems. These systems include sophisticated communications workstations, peripheral products and services and WAN solutions that are used worldwide by financial services organizations for the trading of stocks, bonds and other financial instruments. Other industries served include utilities, airlines and emergency services emergency services Emergency care '…services …necessary to prevent death or serious impairment of health and, because of the danger to life or health, require the use of the most accessible hospital available and equipped to furnish those services' organizations. CONTACT: V Band Corp.
Thomas Hughes, 914/789-5089
or
John E. Petronzi, 914/789-5006
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