FutureTrade, a leading independent provider of electronic equity and option execution services, today reported revenues for the first quarter grew 44% compared to the same period last year and the company's revenues grew 9.8% from the prior quarter.
"Our commitment to providing our buy-side clients with the tools and functionality that they need to make effective trading decisions has resulted in another strong quarter for FutureTrade," said Murray Finebaum, President and Chief Executive Officer at FutureTrade. "During the past few months we completed a strategic alliance with Bear Stearns which offered further validation of our platform. We also introduced a number of significant enhancements to our platform including the expansion of our algorithmic trading offering which we expect will continue to contribute to our revenue and client growth moving forward."
Company quarter highlights include:
- Released FutureTrade Version 2.4, an upgrade that included new algorithmic trading capabilities in demand by leading buy-side traders
- 27% growth in options volume compared to prior quarter
- 384% growth in equities volume from algorithmic trading compared to prior quarter
- 150% growth in volume from previously announced LiquidityPATH white-label partnerships compared to prior quarter
FutureTrade has over 200 hedge fund and other institutional clients, which manage a total of more than $100 billion in equity assets.