NEW YORK, Jan. 3 /PRNewswire/ -- Javelin Technologies, Inc., the leader in electronic trading technology, announced today the launch of JavCentral, a vendor-neutral electronic trading service bureau. JavCentral furthers Javelin's goal of better trading and universal connectivity by helping customers make and manage their electronic relationships.
A core component of JavCentral is FIXchange.net, a gateway for electronic trading that Javelin inherited when it acquired Gateway Financial Technologies' (GFT) a month ago. FIXchange.net offers direct electronic connectivity to any floor broker on the NYSE via FIX. This is Javelin's first strategic acquisition made in order to expand its service offerings and extend its business model. GFT was previously owned by both Javelin and AW Bertsch, Inc., a NYSE member firm.
``JavCentral provides users with a single point of contact for instant access to pools of trade liquidity,'' said John Petschauer, Senior Vice President of Javelin Technologies, Inc. and General Manager of JavCentral, formerly CEO and President of Gateway Financial Technologies. ``It reduces infrastructure costs, offers faster time to market and enables businesses to become more profitable by offering access to multiple electronic trade connections. In addition, it helps make Straight Through Processing a reality.''
Catering to specific customer needs, JavCentral offers services which range from supplying an outsourced FIX engine to offering protocol conversion, Petschauer added. ``Regardless of the individual service, JavCentral is about helping people manage their business relationships,'' he said.
``Helping the securities industry make money through better trading is our ultimate goal,'' said George Kledaras, President and CEO of Javelin Technologies. ``Acquiring Gateway allows Javelin to make trading easier, eliminate barriers to entry and most importantly grow the electronic trading community.''
Both expertise and customer service will ultimately determine the successful vendor. ``As more exchanges and institutional clients adopt the FIX protocol for orders, the need for intermediaries with extensive FIX experience has expanded,'' said Joe Sommer, Director of US Electronic Trading & Connectivity Services for Credit Suisse First Boston. ``We have received professional and responsive service from Gateway to link our systems to the NYSE floor brokers,'' Mr. Sommer continued. ``We have also had excellent results connecting to institutional order management systems that rely on the Javelin FIX engine. The combined firm will be well qualified to support the industry as it continues to evolve.''
``Recent funding by Institutional investors has provided us with the means to pursue an aggressive product expansion strategy,'' said Michael A. Chaladoff, Chief Financial Officer of Javelin Technologies, Inc. ``This acquisition is a key part of a long term plan that includes adding depth to our product line in order to add value to the industry.''
Javelin Technologies, Inc.
Javelin Technologies, Inc., based in New York City with offices in San Francisco and London, is the leading vendor of electronic trading technology, providing universal connectivity for better trading. Javelin's electronic trading technology powers hundreds of clients including Chicago Board Options Exchange (CBOE), Yahoo!, Morgan Stanley Dean Witter, Advent Software, Fidelity Management Research, Instinet, Thomson Financial and Market XT/Tradescape. Javelin's innovations have also attracted a growing list of partners including IBM, Robertson Stephens, TIBCO and Investec Ernst. For information on Javelin's electronic trading solutions, visit www.javtech.com.
For further information, please contact Stephanie Cohen of Javelin Technologies, Inc., 917-320-4690, firstname.lastname@example.org; or Kamal Bagga of The Stephenson Group, 212-420-7905, email@example.com, for Javelin Technologies, Inc.