AXIOM SGI will be headed by Wall Street veteran Scott F. Carotenuto, founder of AXIOM Global Trading, a technology company providing solutions for global equity order management, execution, and other market access demands of both domestic and foreign money managers, hedge funds and broker dealers. In addition to providing institutions, with access to multiple third-party and proprietary electronic DMA technology, agency-only NASDAQ trading, and other value added services including commission management programs and independent research products, AXIOM SGI offers direct floor coverage through SGI LLC's existing NYSE agency-only floor brokers.

"I'm thrilled to be partnering with Scott and his team and excited about the opportunities that the synergies between our two companies will bring to the combined entity," said Walter Schubert, CEO of SGI LLC. "Scott Carotenuto and his group are the best of the best, and are respected as creative innovators who understand the added value of delivering reliable electronic solutions in a constantly changing financial services landscape," added Schubert

"We are excited to be an intricate part of AXIOM SGI joint venture, and we look forward to working with Schubert Group International, a highly respected member firm of the New York Stock Exchange. We will continue to deliver next-generation order execution and commission management tools to the institutional community, while raising the bar on the level of client service expected of agency-only brokers like AXIOM" said Scott Carotenuto, Chief Executive Officer of AXIOM Global Trading. In describing the business model he added that, "Our approach to delivering best-of-breed trading systems through the integration of proprietary technology with third-party providers truly offers clients the freedom to choose from a variety of front-end solutions, middleware, back-office and order handling and routing functionality. These are just a few of the characteristics that set us apart and above the rest."

With the winning combination of traditional floor based brokerage, OTC trading services and leading edge technologies, AXIOM SGI is firmly positioned to offer a complete solution for anonymous, unbiased order execution.

"Foremost will always be our commitment to providing our clients with best execution, and the highest level of personal service," added Lynne Whalen, President of AXIOM Global Trading, and Head of Trading for AXIOM SGI.