LIMITrader Securities to Exhibit At IT for WallStreet '99 Show.NEW YORK--(BUSINESS WIRE)--Feb. 22, 1999-- Electronic Bond Trading System Chosen to Be Featured On Show's Trading Floor Systems Integration Demonstration Area LIMITrader Securities, Inc., creators of LIMITrader.com(SM), the first system to completely automate the trading conventions of the bond market through its unique one-on-one negotiation capability, will exhibit at the IT for WallStreet '99 show here this week. Near the show's main entrance will be the Trading Floor Systems Integration Demonstration Area, enabling attendees to glimpse the future of securities trading. The LIMITrader system will be featured in this interactive showcase incorporating exhibitors' products. Show attendees will be able to view presentations and simulations of the LIMITrader system, along with the LIMITrader.com Web site. Thousands of key decision makers from the top securities, banking and insurance companies have registered for IT for WallStreet '99, which is being held in conjunction with a conference produced by GartnerGroup February 23-25 at the Jacob K. Javits Convention Center Jacob K. Javits Convention Center is a large convention center on the west side of Manhattan in New York City. It was designed by architects I. M. Pei and partners. The revolutionary space frame structure was built in 1986 and named for New York Senator Jacob K. . IT for WallStreet '99 is focused on the latest IT solutions for the financial services industry. "By combining the automated matching of buyers and sellers with anonymous online negotiation, our unique, LIMITrader system dramatically improves the bond trading process," noted Edward McGuinn, LIMITrader president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "With a centralized, virtual trading facility based on sophisticated matching and flexible notification capabilities, we are actually creating an exchange-like trading environment that lowers transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). while improving price discovery. What really sets us apart, however, is our unique ability to offer a whole new, highly efficient way of trading while at the same time adhering to existing bond trading conventions. That's what has our early institutional partners excited." Designed for institutions and brokers trading in the $50 billion-per-day market in secondary corporate bonds, LIMITrader's intuitive, Web-based system is scheduled to go live in limited availability in March, followed by general availability in April. In addition to LIMITrader, vendors participating in the trading floor showcase will include: Infra-Structures, Inc.; British Telecom North America; Daktronics; Data Modules; Eurocraft Corp.; SBFI, Inc.; IPC (1) (InterProcess Communication) The exchange of data between one program and another either within the same computer or over a network. It implies a protocol that guarantees a response to a request. Information Systems; ImTech Corp.; IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) ; Magenta Magenta, town, Italy Magenta (mäjān`tä), town (1991 pop. 23,667), Lombardy, N Italy, near Milan. Manufactures include matches, textiles, and machinery. Research Ltd.; On- line Voice Identification, SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. Systems, Systems Manufacturing Corporation; Silicon Graphics; IX Net; ViewSonic; and Tibco Finance Technology. A theater area associated with the trading floor will allow vendors, including LIMITrader, to give presentations on their various products. The Trading Floor Systems Integration Demonstration Area at IT for Wall Street '99 is being designed by trading room consultants and designers Interport Financial, Inc. "LIMITrader.com is the only system that can provide the enabling platform for creating a continuous, secondary bond market based on electronic trading," added James Kopley, vice president of marketing. "With the LIMITrader system, a portfolio manager, trader or institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. can trade exactly as they do now, but with a major new advantage -- they literally create the market by initiating their own prices for buying and selling bonds. The result is a pure market, where customers, not dealers, set the price." The LIMITrader system automatically executes all trades, functioning as a riskless principal Riskless Principal Two principal transactions occurring at the same price that are reported only once as an agency transaction. Notes: This is a principal transaction that synthesizes an agency transaction by removing the risks involved with holding a position. . Sellers have a variety of pricing options, including dollar price yield to put, yield to call or spread over a selected treasury security benchmark. There are no subscription or separate commission fees to use the LIMITrader system. Trades are handled on a net price basis. About LIMITrader LIMITrader Securities, Inc., a privately-held company, is the creator of LIMITrader.com(SM), the first system to completely automate the trading conventions of the bond market through its unique negotiation capability. LIMITrader.com extends the automation process of online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. through the invention of one-on-one online anonymous negotiation. LIMITrader dramatically improves the bond trading process by providing a centralized, virtual trading facility based on sophisticated matching and notification. Designed for institutions and brokers trading in the $50 billion (daily) secondary corporate bond market, LIMITrader's intuitive, Web-based system helps institutions increase liquidity, protect anonymity, and gain price transparency, easier price discovery and lower transaction costs. The latest major investment in securities trading technology by the firm's Chairman, Donald E. Weeden, a Wall Street legend and renowned pioneer in electronic trading, LIMITrader's recent investors include SOFTBANK Technology Ventures and Zero Stage Capital Co. An SEC-registered broker-dealer and member of the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , MSRB MSRB See Municipal Securities Rulemaking Board (MSRB). , SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. and the Bond Market Association, LIMITrader is headquartered at 230 Park Avenue, New York, NY 10169, telephone (212) 499- 1390, fax (212) 499-1399, with other offices in Greenwich, Conn. More information is available on the Web at www.limitrader.com. LIMITrader.com is a service mark of LIMITrader Securities, Inc. All other trademarks are the property of their respective owners. |
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