PHLX signs Torc Financial to support equity trading system
The Philadelphia Stock Exchange announced today that the PHLX and TORC Financial, LLC (TORC) have entered in to an agreement for a joint development project to provide ancillary services to the PHLX-XLE Equity Trading System.
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Expected services to be developed by TORC and licensed to the PHLX include VWEB, a system that allows for the entering of cross orders by PHLX floor brokers, as well as Help-Desk and operational support tools. In addition, TORC will also provide consulting and advisory services as necessary to ensure the successful implementation and expected growth of the PHLX-XLE System, as well as the continued success of PHLX as the nation's oldest and most innovative securities exchange.