Preferred Capital Markets Announces Name Change to PreferredTrade.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Dec. 18, 2000 PreferredTrade(SM), Inc., a broker-dealer formerly known as Preferred Capital Markets, today announced it has changed its name to better reflect its focus on its direct access online brokerage operation of the same name. The new name also underscores the firm's longstanding expertise in stock execution for options market makers on the floors of U.S. options exchanges. According to President and Co-Chief Executive Officer Michael W. Engmann, who founded the firm in 1982 and was one of the first market makers on the Pacific Exchange's options floor, the new company name more clearly reflects PreferredTrade's expertise in stock and option trade execution. "PreferredTrade has built a strong following among options market makers and active online equity and options traders by focusing on achieving rapid and accurate electronic trade execution at the best price possible. We are the only online brokerage that gives retail option traders direct access to major U.S. options exchanges, as well as direct access for Nasdaq stock orders to market makers and electronic communications networks (ECNs). We were also the first to offer integrated online trading with leading real-time streaming quote services," he added. Engmann said PreferredTrade currently serves approximately 12,000 online retail investors through a dedicated Windows-based software application, versus the slower browser-based systems used by most online brokerages. Options orders are directly routed to the electronic systems of the Chicago Board Options Exchange Chicago Board Options Exchange (CBOE) A securities exchange created in the early 1970s for the public trading of standardized option contracts. Primary place for the trading of stock options, foreign currency options, and index options (S&P 100, 500, and OTC 250 index) (RAES RAES Royal Aeronautical Society RAES Radio Amateur Educational Society RAES Random Access Encryption Specification ), the Pacific Exchange (POETS), the 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. (AMOS), The Philadelphia Stock Exchange's AUTOM system and the newly formed International Securities Exchange (ISE Ise (ē`sā), city (1990 pop. 104,164), Mie prefecture, S Honshu, Japan, on Ise Bay. It is one of the foremost religious centers of Shinto, the site of the shrines of Ise. ). PreferredTrade also offers online option traders limit, stop and stop limit orders for options, plus contingent option orders. Stops and contingent orders can be triggered by the price of either the option contract or the underlying stock or index. A number of other features are under development to enhance PreferredTrade's appeal to options traders, including online spread orders and orders wherein one cancels another order. PreferredTrade has entered into more than 20 marketing and integration alliances. Its proprietary software is fully integrated with eSignal from Data Broadcasting Corp., DTNIQ and InterQuote from Data Transmission Network, Q-Charts from Quote.com, a Lycos company, AT Attitude from AT Financial, Inc., a Thomson Financial company, NexTrend Analysis from NexTrend, Inc., MicroHedge and OptionVue. In addition, PreferredTrade has marketing agreements with a variety of Internet online financial information sites, including Option Investor.com, Optionetics.com, Traders Library.com, TheLion.com, eGoose.com and MarketCompass.com. Founded in 1982 and headquartered in San Francisco, PreferredTrade, Inc. is a broker-dealer serving options market makers, other professional investors and active individual investors. With offices in New York, Boston, Chicago and Philadelphia, PreferredTrade is a member of 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. , the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. , American Stock Exchange, Boston Stock Exchange The Boston Stock Exchange (BSE) is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834. On October 2nd, 2007 Nasdaq agreed to acquire BSE for $61 million. , Chicago Board Options Exchange, Pacific Exchange, Philadelphia Stock Exchange Philadelphia Stock Exchange (PHLX) A securities exchange trading American and European foreign currency options on spot exchange rates. , the Municipal Securities Rulemaking Board The Municipal Securities Rulemaking Board, often referred to simply as the MSRB, makes rules regulating broker-dealers and banks that deal in municipal bonds, municipal notes, and other municipal securities in the United States. and the Securities Investor Protection Corporation Securities Investor Protection Corporation (SIPC) A nonprofit corporation that insures customers' securities and cash held by member brokerage firms against the failure of those firms. . For more information, visit www.PreferredTrade.com. PreferredTrade(SM) is a registered servicemark of PreferredTrade, Inc. All rights reserved. |
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