Compaq Selected To Power Electronic Securities Trading System.HOUSTON--(BUSINESS WIRE)--May 20, 1999-- $27 Million Compaq Enterprise Solution Includes NonStop Himalaya, AlphaServer And ProLiant Systems Compaq Computer Corporation (company) Compaq Computer Corporation - The largest US manufacturer and vendor of IBM PC compatible personal computers and servers. Compaq was started in 1982 by three ex-Texas Instruments employees. Quarterly sales $2499M, profits $210M (Aug 1994). http://compaq.com/. (NYSE NYSE See: New York Stock Exchange :CPQ CPQ Compaq CPQ Conseil du Patronat du Québec (Canada) CPQ Configure-Price-Quote CPQ Conseil de Presse du Québec (Québec Press Council, Canada) CPQ Companion Parrot Quarterly ), today announced that it was selected by OptiMark Technologies Inc. to provide an enterprise IT solution to power the first worldwide electronic securities trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the system. The OptiMark(TM) Trading System The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. increases the efficiency and reduces the cost of securities trading by providing a confidential environment in which buyers and sellers can bring liquidity to the market without the risk of market impact. The sale is valued at $27 million and provides OptiMark with a reliable, high performance system essential to running its business effectively. "We came to Compaq because of their proven track record as an IT technology partner with the majority of the world's securities exchanges," said William F. Adiletta, OptiMark's Chief Technology Officer. "With trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. reaching a current high of three million shares in a day, the OptiMark System had all the power and functionality it needed to handle, match and process the requests -- from approximately 40 broker dealers and 100 securities institutions. Compaq's cross-platform solution met all our requirements, including the need to handle the complex calculations of matching buys and sell within three seconds." "Compaq is the premier global technology supplier to the Capital Markets industry with over 105 exchanges and growing," said Jerry Peterson, Vice President, Financial Service and Electronic Commerce, Compaq Computer Corporation. "Because of our expertise, we were able to quickly understand and meet OptiMark's requirements for a mission-critical solution. By partnering with OptiMark in the creation of this unique trading system, we are helping to advance the electronic exchange of information and pave the way for tomorrow's virtual trading floor." The OptiMark Trading System The OptiMark Trading System is currently available for trading listed equities as a facility of the Pacific Exchange. A version of the System for trading Nasdaq is under development and is expected to be available as a facility of the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. in the third quarter. The OptiMark solution showcases Compaq's breadth of enterprise offerings with NonStop Himalaya server's continuous and reliable processing power, Alpha Server's intensive computing capabilities, and the ProLiant systems outstanding price performance. Company Backgrounds OptiMark Technologies Inc. is a privately-held transaction services company headquartered in Jersey City, N.J., and with offices in strategic financial centers throughout the U.S., Canada and Japan, including New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Boston, Chicago, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Toronto and Tokyo. Additional information on the company is available on the World Wide Web at http://www.optimark.com. Compaq Computer Corporation, a Fortune Global 100 company, is the second largest computer company in the world and the largest global supplier of computer systems. Compaq develops and markets hardware, software, solutions, and services, including industry-leading enterprise computing solutions, fault-tolerant business-critical solutions, enterprise and network storage solutions, commercial desktop and portable products and consumer PCs. The company is an industry leader in environmentally friendly programs and business practices. Compaq products are sold and supported in more than 100 countries through a network of authorized Compaq marketing partners. Customer support and information about Compaq and its products are available at http://www.compaq.com. Compaq, Registered U.S. Patent and Trademark Office. Product names mentioned herein may be trademarks and/or registered trademarks of their respective companies. |
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