OES Closes Acquisition of Archipelago Brokerage Services.PRINCETON, N.J. -- Order Execution Services Holdings, Inc. (OES), announced today that it has closed its acquisition of Archipelago Brokerage Services, L.L.C. (ABS), now renamed ABS Brokerage Services. Order Execution Services Holdings is the parent company of Order Execution Services, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a leading independent introducing and agency broker-dealer. Terms of the acquisition were not disclosed "The completion of this acquisition is a major milestone as OES continues to aggressively grow and further position itself under Reg. NMS See NetWare Management System. ," said David M. Scheckel, 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. of OES. 'New Era for OES' "Today, a new era begins for OES," Mr. Scheckel said. "OES is now delivering a competitive trading solution, complete with competitive pricing, FIX connectivity and total anonymity for ABS customers, while continuing to focus on innovation and attention to customer service. "As a result of this acquisition," he said, "OES is better able to maximize our services as a one-stop provider of advanced order routing and connectivity." Archipelago Holdings, Inc. (PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. : AX), the owner and operator of the Archipelago Exchange(R) (ArcaEx(R)), had operated ABS as an introducing broker that provided broker-dealer customer access to ArcaEx for securities traded on ArcaEx. "ABS customers will benefit from the enhanced connectivity and customer services provided under the growing umbrella of OES," said Mike Cormack, president of Archipelago. About Order Execution Services (OES) Order Execution Services Holdings, Inc. (OES), through its wholly-owned technology and broker-dealer subsidiaries, provides seamless electronic market connectivity, liquidity access and rapid executions by linking broker-dealers, trading systems, exchanges and market centers. As an innovative securities industry leader, OES specializes in smart-order routing, Reg. NMS compliance tools, sponsored market access, agency execution and private inter-market linkages. OES was formed in 2002 by the management buyout Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. of the Herzog-listed trading division from Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. . Closely-held, OES is headquartered in Princeton N.J., with offices in 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, Boston and Philadelphia. For information, visit www.tradeoes.com About Archipelago Archipelago Holdings, Inc. (PCX: AX), operates the Archipelago Exchange (ArcaEx), the first totally open all-electronic stock exchange in the United States. ArcaEx trades all Nasdaq(R)-listed equity securities and exchange listed equity securities, including those listed on the New York Stock Exchange 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. (R) (NYSE NYSE See: New York Stock Exchange (R)), 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. (R), (Amex(R)) and ArcaEx. In April 2005, the NYSE and Archipelago announced that they have entered a definitive merger agreement that will lead to the combined entity, NYSE Group, Inc. In addition to offering core execution services, ArcaEx provides corporate clients with listing services and innovative data products. In September 2005, Archipelago acquired PCX Holdings, Inc., parent company of the Pacific Exchange and PCX Equities, Inc. allowing Archipelago to bring together the all-electronic trading of equity securities and options products thereby expanding and diversifying Archipelago's business lines. For more information please visit http://www.archipelago.com. This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. All trademarks are properties of their respective owners. 2006 Order Execution Services Holdings Inc. - All Rights Reserved |
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