OES Launches Operation of Outbound Router Facility for ISE Stock Exchange.
PRINCETON, N.J. -- Order Execution Services Holdings, Inc. (OES), today announced that its ISERoute, LLC (ISERoute) subsidiary now operates as an exchange facility of the ISE Stock Exchange, LLC, and provides ISE with Reg. NMS-compliant outbound routing services. ISERoute exclusively connects the ISE Stock Exchange's equities trading platform to all other required trading centers in compliance with its March 5, 2007 Reg. NMS obligations.
OES said that the ISE Stock Exchange, a subsidiary of the International Securities Exchange Holdings, Inc. (NYSE: ISE), is presently using ISERoute to implement exchange-defined routing logic and transmit orders that access other markets through sponsoring agency broker-dealers. ISERoute facilitates trades with the displayed and reserve interests at those destinations. The ISE Stock Exchange introduced a fully Reg. NMS-compliant displayed market late last year, supplementing MidPoint Match[TM], its dark pool equities product that offers continuous price improvement.
OES, through ISERoute, also provides the ISE Stock Exchange with services that include smart routing technology, Reg. NMS self-help, audit tools, and agency brokerage services to handle ISE equity orders sent to other trading centers.
Andrew Brenner, head of the ISE Stock Exchange, said, "We are pleased to partner with OES to implement ISERoute and to ensure our preparedness for Reg. NMS well in advance of the compliance date."
"The successful implementation of ISERoute exemplifies OES' ongoing initiative of providing services that enable several trading centers and large broker-dealers to be compliant with Reg. NMS, and continues our record of achieving key wins with Reg. NMS," said, David Scheckel, the chief executive officer of OES. "OES is especially pleased with the current Reg. NMS-compliant capabilities of ISERoute, and looks forward to continuing to work with the ISE Stock Exchange to improve the exchange facility's integral technology and services."
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. Closely-held, OES is headquartered in Princeton, with offices in Chicago, Los Angeles, and New York City. For information, visit www.tradeoes.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.
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|Date:||Feb 16, 2007|
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