Printer Friendly

MarketXT Announces $25 Million Investment from Warburg, Pincus; Investment Furthers MarketXT's Leadership Position in the Extended-Hours Market.

NEW YORK--(BUSINESS WIRE)--October 21, 1999--

MarketXT, the first extended-hours marketplace designed specifically for the individual investor, today announced that the private equity investment firm Warburg, Pincus Ventures has invested $25 million in MarketXT. This investment will expand and accelerate MarketXT's growth plans, provide valuable experience and new professional relationships, and increase the privately held company's name recognition within the brokerage community.

"We are excited to have the opportunity to enter this market with a company whose innovative services, experienced management and industry recognition make it a clear leader in the nascent extended-hours market space," said Stewart Gross, Managing Director of Warburg, Pincus, who recently joined the Board of Directors of MarketXT. "As the popularity of online investing continues to grow and the prospect of a 24 hour trading day approaches reality, we are confident that MarketXT will emerge as one of the most promising players in the investment market."

Launched in August of this year, MarketXT's extended-hours marketplace is enhancing the convenience and investment opportunities available to individual investors. Through its relationships with such brokerage partners as Discover Brokerage, Dreyfus Brokerage Services and Salomon Smith Barney, MarketXT enables individuals to invest in Nasdaq(R) and NYSE stocks during the hours of 4:30 p.m.-8 p.m. Eastern Time / 3:30 p.m. - 7 p.m. Central Time / 1:30 p.m.-5 p.m. Pacific Time, Monday through Thursday.

"We are very pleased to be partnering with Warburg, Pincus, which has established a reputation for furthering the development of some of the most recognized financial services and information technology companies in the industry," commented Michael Sanderson, CEO and Chairman of MarketXT, Inc. "This investment is truly a strong vote of confidence in our business model, our superior technology and the quality reputation we have established within the investor community."

About Warburg, Pincus Ventures

Since 1971, Warburg, Pincus has made over 300 private equity investments. Warburg, Pincus has approximately $7 billion under management and is currently investing from a $5 billion fund, Warburg, Pincus Equity Partners, L.P. Warburg, Pincus is headquartered in New York City with regional offices in London, Hong Kong, Singapore, Tokyo, and Sao Paolo. Other successful companies that Warburg, Pincus has invested in include: the Mellon Bank Corporation; Intuit Inc.; BEA Systems, Inc.; NOVA Corporation; and VERITAS Software Corporation. Learn more about Warburg, Pincus at www.warburgpincus.com.

About MarketXT, Inc.

Based in New York and privately held, MarketXT, Inc. is committed to enhancing the convenience and opportunity of investing. The company's alternative trading system is the first extended-hours marketplace specifically designed for individual investors, offering tools and services previously available only to institutions. Founded in 1997 by two former SEC lawyers, MarketXT is headed by a CEO with extensive experience in shaping and creating the after-hours trading market. MarketXT is supported by major brokerage firms and has strategic partnerships with Salomon Smith Barney, Morgan Stanley Dean Witter & Co., Herzog Heine Geduld, Bernard L. Madoff Investment Securities, and Polaris Venture Partners. For more information, visit the MarketXT Web site at www.MarketXT.com or contact Karen Rappaport of Connors Communications at 212-807-7500.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Oct 21, 1999
Words:519
Previous Article:Cheniere Energy Selects MDC Group, Inc. for Financial Public Relations.
Next Article:Synygy Announces Results of the 1999 Incentive Compensation Conference Survey Survey Reveals Flexible Plan Management as the Top Area for Improvement.


Related Articles
MarketXT Brings Extended-Hours Trading to Mydiscountbroker.com; MarketXT's Partnership with Mydiscountbroker.com Expands the Reach of MarketXT.
MarketXT Partners with Track Data's myTrack Online Trading Service.
MarketXT Expands Its Offerings to Include 300 Active Nasdaq-R and NYSE Stocks.
TRADESCAPE.com, Inc. to Acquire MarketXT; Merged Company to Receive Up to $100 Million in New Capital From SOFTBANK-Led Investors.
Internet Finance International Launches NightInvestor.com - The Leading Web Resource for Extended Hours Trading Information.
DEAL'S A WRAP FOR FOUR MEDIA; WARBURG TO CONTROL POST-PRODUCTION FIRM.
Investors create new company to focus on Europe.
Partners focus on China.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters