FutureTrade, a leading independent provider of electronic equity and option execution services, today reported that revenues for the fourth quarter grew 66% compared to the same period last year and the company's revenues grew 27% from the prior quarter.
In 2004, FutureTrade's revenues increased 102%, reflecting steady growth in the number of institutional clients and trading volume per client. This strong revenue growth was achieved despite soft equity volumes experienced by the industry overall.
"2004 was a milestone year for FutureTrade. We steadily increased our revenues and the number of new clients providing further validation and industry-wide acceptance of our advanced trading technologies," said Murray Finebaum, President and Chief Executive Officer at FutureTrade. "In 2005, we will continue to focus on providing exceptional service and client support with an emphasis on further enhancing our trading capabilities. We also expect that key partnerships announced this quarter will contribute significantly to revenue and client growth this year."
Company highlights from 2004 included:
- Increasing its institutional client base substantially, doubling its equity client base to more than 200 clients and signing on 50 new clients to its options business.
- Successfully launching its LiquidityPath Service Bureau for broker-dealers and prime brokerages.
- Announcing key partnerships with Bear Stearns, Capital Institutional Services Inc. (CAPIS), and Credit Suisse First Boston - underscoring the broad acceptance of FutureTrade's trading technologies.
- Closing of a $10.6 million Series D Funding round led by Smart Technology Ventures. They join Menlo Ventures as leading investors in FutureTrade.
FutureTrade has over 200 hedge fund and other institutional clients, which manage a total of more than $100 billion in equity assets.