Source: Belzberg Technologies
Belzberg Technologies Inc. (TSX: BLZ), a leading provider of technology-based equity and options trading, today announced that it has successfully launched a rollout of new technology that integrates its trading software with high-speed market data, delivered directly from all of the major North American stock and options exchanges.
Belzberg's new Direct Data products are driven by state-of-the-art ticker plant software provided by Active Financial, a firm that provides software and market data to stock brokers and financial institutions in the US and Canada.
To date, over 50% of Belzberg clients have been successfully converted to the Direct Data products, including a large percentage of Belzberg's algorithmic and options traders. As a result, Belzberg is seeing significant increases in its order flow numbers, the most dramatic increase being with electronic options users. Electronic options volumes grew to approximately 6.3 million contracts traded in Q1 2005 versus 4.9 million in Q4 2004.
"Options traders need huge volumes of market data delivered to them as fast as possible, where fractions of a second in bringing up options chains are vital to their success," said Donald Wilson, COO of Belzberg Technologies. "Algorithmic traders need quote ticks delivered to their systems accurately and with zero latency. Our Direct Data products are designed to meet these requirements, and position our company to handle the ongoing surge in market data traffic that has occurred as a result of electronic trading systems."
"As the company completes the transition of all of its clients to our Direct Data products, we expect continued increases in trading volumes and to see further cost reductions as we completely phase out third party data feed vendors," said Sid Belzberg, CEO of Belzberg Technologies Inc.
Earnings for Q1 will be announced on April 27th, 2005.