Trading Technologies moves into profit

Trading Technologies moves into profit

Trading Technologies, a Chicago-based technology supplier to the derivatives industry, has announced $24 million in annual revenues for 2002, representing a 76% increase over 2001.

The privately-held firms says that all three of the final months of 2002 were profitable – making the fourth quarter of 2002 the company’s first fully profitable quarter.

Software license sales during the year increased by 79% over 2001.

Chris Derossi, Trading Technologies president and CEO, says: "Perhaps the most significant aspect of these financial figures is that profitability was accomplished while we continued to invest in our business through staff growth and new product releases."

The company released a new version of its X-Trader front-end dealing system for short-term interest rate swaps in December.

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