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TFS Blackwood Announces That Blackwood Securities Receives Approval to Operate Europe's First Large Scale Nasdaq Daytrading Center in London.

TFSB to Open Its Doors to Professional Traders at Gresham Street

NEW YORK, July 10 /PRNewswire/ --

TFS Blackwood LLC (TFSB) today announced that Blackwood Securities LLC has received SFA approval to trade US equities in the UK. A 7,000 sq. ft. office at 51-55 Gresham Street, that has the capacity to hold 75 traders -- with plans to increase capacity by 15% in 4Q '01, will now become fully operational.

TFSB is an international joint venture formed in 3Q 2000 between Tradition Financial Services (TFS), a leading international OTC brokerage company and Blackwood Trading, LLC an innovative direct access technology firm based on Wall Street.

The office, which will initially open with around 12 customers, projects to trade hundreds of thousands of shares daily, primarily on the NASDAQ. During the first weeks of operation, extensive training will be conducted by several of Blackwood New York's most successful traders, including Head Trader and Managing Partner, Laurence Bag. Other experienced US daytraders will remain on site in the UK for up to a year, to train and guide UK-based professional traders. Blackwood's Director of Infrastructure, Michael Bogan, and other technical staff have overseen TFSB's technology integration. Blackwood New York IT staff will be on hand during the opening period and beyond to ensure system reliability.

Stephen Kelly was appointed Managing Director of the London operation, responsible for local risk management and customer relations. David Thompson, Business Development Director, will oversee marketing of new customers, as well as media relations and the operation of the first Direct Access Trading Academy in London planned in 3Q '01.

TFSB will provide European professional traders direct access trading in all U.S. equities markets (NYSE, NASDAQ, ECNs and regional exchanges) through Blackwood's proprietary financial software. Blackwood's latest professional direct access platform, Blackwood PRO, is designed to provide professional traders with connectivity to all liquidity pools coupled with advanced order execution functionality. Blackwood's proprietary HUNT order routing technology is used by many of the most active and profitable of Blackwood's traders in the U.S. in order to intelligently navigate the markets and obtain high-quality executions.

The new company also plans to open offices in other financial centers worldwide, offering traders in these locations direct access to the U.S. equities markets. TFSB anticipates market evolution whereby traders throughout the world will be able to trade on multiple international exchanges through a central direct access technology platform.

Simon Brady, Managing Director of TFSB LLC in New York, said "The arrival of this powerful daytrading technology beyond the shores of the United States for the very first time marks the beginning of a new era of empowerment and opportunity for professional traders throughout the world."

"Our vision for TFS Blackwood is to combine Blackwood's direct access technology with the global capabilities of TFS to give traders and investors around the world direct access to all foreign exchanges", explains Craig Schlifstein, managing partner, Blackwood.

"TFSB is now positioned to become a leading provider of direct access technology globally," said Benjamin Weinger, Managing Partner, Blackwood. "This joint venture is integral to Blackwood's commitment to providing all traders worldwide with access to every significant source of liquidity and to offering a state-of-the-art technological solution needed for efficient trade executions."

Visit http://www.tfsb.net for additional details.

About TFS

Founded in 1985, Tradition Financial Services (http://www.tfsbrokers.com) is a leading broker of OTC inter-dealer physical and derivative products. The company covers global foreign exchange, commodity, equity and energy markets as well as pulp and paper and bandwidth. The TFS Energy Division was established in 1989. Specializing in derivatives across the whole energy spectrum, OTC businesses are operational in coal, electricity, emissions, natural gas, oil, and weather.

The majority shareholder in TFS is Viel et Cie (http://www.viel.com), continental Europe's largest financial services broker. TFS is listed on the Second Marche of the French Stock Exchange, and is part of Compagnie Financiere Tradition, which is headquartered in Lausanne, Switzerland.

About Blackwood Trading, LLC

Headquartered in the heart of New York's financial district, Blackwood (http://www.blackwoodtrading.com) is a major direct access technology firm offering one of the most advanced direct access trading systems in the financial community. Blackwood ranks among the top online brokers in the U.S.-based on equivalent volume.

Blackwood's technology is changing the way Wall Street trades securities by providing active traders with direct, equal access to all sources of liquidity, and by offering unbiased, electronic order routing technology that automates the strategies of Blackwood's successful Wall Street traders.

All securities offered by Blackwood Securities LLC, member NASD, SIPC

Blackwood Securities, London is a branch of Blackwood Securities LLC,

New York. Regulated by SFA for conduct of business in the UK.

TFS Blackwood Ltd is a branch of TFS Blackwood LLC, New York.

TFS Blackwood LLC is an associated company of Tradition Financial Services.

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Publication:PR Newswire
Geographic Code:1USA
Date:Jul 10, 2001
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