Monday January 28, 8:05 am Eastern Time
Javelin Technologies, Inc.
American Stock Exchange Selects Javelin Technologies for OLA
Javelin Solution to Facilitate AMEX Participation In Options Exchange Linkage Plan
NEW YORK, Jan. 28 /PRNewswire/ -- Javelin Technologies, Inc. announced
today that the American Stock Exchange® (Amex®), the nation's second
largest floor-based exchange, has selected Javelin's Appia(TM) trading
solution to facilitate the exchange's participation in the Options Linkage
Authority's (OLA) plan to provide direct electronic access between the five
primary options exchanges in the U.S.
The implementation of the OLA's linkage plan will allow investors to
electronically ``sweep'' all participating exchanges to find the best venue of
execution. Amex members represent a cross-section of the nation's leading
brokerage houses, including 807 regular members who transact business in
equities and options, and 57 options principal members who execute
transactions in options only. With Javelin enabling a link with the OLA, these
members will have the ability to find best execution across a variety of
The OLA's participating exchanges include the American Stock Exchange,
Chicago Board Options Exchange (CBOE), International Securities Exchange,
Pacific Exchange (PCX) and Philadelphia Stock Exchange. In addition to the
Amex, Javelin counts CBOE and PCX as clients.
``FIX is a mature and reliable technology solution that will compliment our
existing technology capabilities,'' said Ravi Apte, chief technology officer at
the American Stock Exchange. ``It will enable the Amex to participate in the
Options Exchange Linkage plan and implement future trading solutions as well.''
``Javelin's specific purpose is to supply the entire securities industry
worldwide with tools to help them trade more efficiently,'' said John Coulter,
COO and president of Javelin Technologies. ``Our involvement with the Amex and
the OLA gives us additional exposure and deeper penetration in both the
exchange and options markets, which is not only a significant win for us but
also for the FIX protocol as a whole.''
About Javelin Technologies, Inc.
With over 1,000 installations at nearly 250 major buy and sell-side
institutions, securities clearing houses, hedge fund managers, exchanges and
ECNs worldwide, Javelin Technologies is a leading supplier of electronic trade
communication technology and the leader in Financial Information Exchange
(FIX) technology. Javelin solutions provide better trading through universal
connectivity, streamline workflow and eliminate the high cost and risk of
developing proprietary network links and protocol implementations.
Javelin is based in New York City with offices in San Francisco, London,
Paris and Hong Kong. Winner of the 2001 Deloitte & Touche Shooting Star award
for fastest-growing technology companies, Javelin's electronic trading
solutions power hundreds of clients including Chicago Board Options Exchange
(CBOE), Morgan Stanley Dean Witter, Fidelity Management Research, Instinet,
Thomson Financial, Market XT/Tradescape, and Yahoo!. For more information on
Javelin's electronic trading solutions, visit http://www.javtech.com.
About the American Stock Exchange
The American Stock Exchange® (Amex®), a subsidiary of the National
Association of Securities Dealers, Inc. (NASD®), is the only primary
exchange that offers trading across a full range of equities, exchange traded
funds (ETFs), including structured products and HOLDRS(SM) and options. In
addition to its role as a national equities market, the Amex is the leader in
ETF listings, listing 117 ETFs to date, and is the second largest options
exchange in the U.S., trading options on broad-based and sector indexes as
well as domestic and foreign stocks. For more information, visit