Trading Edge Announces Strategic Partnership With The Chicago Board Options Exchange.Business Editors NEW YORK--(BUSINESS WIRE)--April 5, 2000 World's Largest Options Marketplace To Implement and Co-Market Trading Edge's Leading BondLink(TM) Technology, Enabling Investors to Trade FLEX Options Online 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) (CBOE CBOE See: Chicago Board Options Exchange CBOE See Chicago Board Options Exchange (CBOE). ), the world's largest options marketplace, and Trading Edge, Inc., a fixed-income securities broker and creator of BondLink(TM), the first anonymous, secure, real-time service for fixed income trading over the Internet, today announced a strategic partnership. The CBOE will implement and co-market a customized online trading system, based on Trading Edge's leading BondLink technology, which will enable investors to trade FLexible EXchange (FLEX(R)) options via the Internet. Trading Edge will work with the CBOE to build a highly customized web-based system for trading CBOE's FLEX options, which allow institutional markets/participants, such as pension funds, money managers and insurance companies, to meet their investment objectives by customizing certain terms of an option contract. The joint venture will be funded by Trading Edge and co-marketed by the CBOE. "Since their inception, CBOE's FLEX options have traded $420 billion and have quickly become a viable alternative to the over-the-counter market," said William J. Brodsky, Chairman 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. of the Chicago Board Options Exchange. "To ensure the continued success of FLEX options trading, the CBOE has aligned with Trading Edge to provide investors with a leading system for online trading. This alliance reinforces our commitment to empowering investors through cutting-edge trading capabilities." "We are very proud to have been chosen as the online trading technology partner of the Chicago Board Options Exchange," said Murray Finebaum, Chairman and CEO of Trading Edge. "Just as our success with BondLink has given institutional investors total anonymity, security and price-transparency in real-time, our approach will be as successful in impacting CBOE's FLEX options." Launched in April 1999, BondLink currently offers secure trading of high-yield, emerging market and convertible notes and will introduce municipal bond trading in the second quarter of 2000. Hedged convertible note trading will be implemented in the third quarter of 2000, with investment grade bonds added shortly thereafter. BondLink is currently installed on more than 770 workstations, representing nearly 300 institutions. About The Chicago Board Options Exchange CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, access the CBOE site on the World Wide Web at http://www.cboe.com or call 1-800-OPTIONS. About CBOE's FLEX Options Created in 1993 by the CBOE, and initially listed on the S&P 100(R), S&P 500(R) and the Russell 2000(R) indices, FLexible EXchange Options, known as FLEX(R) Options, offer an alternative to over-the-counter options, enabling institutional market users to customize certain terms of the option contract. Designed for initial transactions of at least $10,000,000 of national principal, FLEX options enable competition in price discovery, liquidity and transparency. Today, the CBOE offers FLEX Options on more than 700 equities, including America Online, Inc. (ticker symbol AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ); Cisco Systems (CYQ); Citigroup, Inc. (ZZU); CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) , Inc. (GCB); Dell Computers (DLQ); International Business Machines (IBM); Lucent Technologies (LU); Microsoft (MSQ); Qualcomm (AAF) and Yahoo! Inc. (YHO). About Trading Edge, Inc. Trading Edge, Inc. is a fixed-income securities broker with offices located in 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. , Washington, D.C. and Santa Monica, California For other uses, see Santa Monica (disambiguation). Santa Monica is a coastal city in western Los Angeles County, California, USA. Situated on Santa Monica Bay of the Pacific Ocean, it is surrounded by the City of Los Angeles — Pacific Palisades and Brentwood on the north, . In addition to marketing and developing BondLink and BondLink News Service, the Company is a member of 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. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). ) 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. (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. ). Founded in 1997, Trading Edge previously received funding from Brentwood Venture Capital, Media Technology Ventures, Technology Crossover Ventures, three of the nation's foremost strategic partners specializing in early-stage and emerging technology and information companies. Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. also invested in Trading Edge and acquired an equity position in December 1999. For more information, visit www.tradingedge.com. Qualified institutional investors can request the BondLink service by contacting Trading Edge toll free at 877-314-2244 or by registering online. All Company and product names are trademarks of their respective holders. |
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