Monday November 27, 7:30 am Eastern Time
Javelin Technologies, Inc.
Javelin Technologies' FLIRT(TM) Transforms Electronic Trading; Financial Language Internet Real-time Trading(TM) Protocol
NEW YORK, Nov. 27 /PRNewswire/ -- Javelin Technologies, Inc., the leader
in electronic trading technology, announced today the distribution of
FLIRT(TM), an Internet infrastructure for the real-time communication of trade
Built by Javelin, FLIRT(TM) (Financial Language Internet Real-time
Trading) is a free, open Internet trading standard offering a simple way to
prepare the world for electronic trading.
By creating a universal infrastructure for electronic trading over the
Internet, FLIRT(TM) will push the industry towards increased market efficiency
and enhanced liquidity.
FLIRT(TM) is ``protocol friendly,'' meaning that trade
information can be written in any data format (FIXml, FpML, XML, etc.) and
reach its intended destination quickly and securely.
``We can pretend that FIX will solve all trading problems, but that would
be to ignore the power of the Internet and those trading partners, like the
retail investor for example, who cannot use FIX in its current form,'' said
George Kledaras, president and CEO of Javelin Technologies, Inc.
solves the ubiquity issue, and creates more liquidity connections, something
crucial for the industry moving forward.''
``Javelin is positioned to help firms exploit the power of the Internet in
a way the electronic trading marketplace has not seen,'' said Rob Hegarty,
Research Director with TowerGroup.
``FLIRT creates a universal infrastructure
for electronic trading over the Internet, which will help the industry achieve
greater market efficiency and allow access to greater pools of liquidity.''
``FLIRT(TM) is about making money on the Internet by trading,'' said Witold
Sames, senior vice president, product development for Javelin Technologies,
``As a global connectivity tool, the Internet has been heavily exploited,
but until now the electronic trading community has remained rather timid in
making use of it. FLIRT(TM) changes all that.''
With FLIRT(TM)'s ability to communicate across all languages, and
seamlessly link trade counterparties, the entire electronic trading
marketplace will benefit from the infrastructure.
This includes the retail
investment community, the buy side, the sell side, Electronic Communication
Networks (ECNs), order management system vendors wanting web-based and
non-equity traders using data formats like FpML.
FLIRT(TM) uses the connection-less HTTP(s) as its transport layer and adds
transactional integrity to create a lightweight state/session management
capability, eliminating the need for traditional point-to-point connections
(as is the case with a traditional FIX connection today).
Javelin Technologies, Inc.
Javelin Technologies, Inc., based in New York City with offices in San
Francisco and London, is the leading provider of electronic trading
technology, providing universal connectivity for better trading.
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
Javelin's innovations have also attracted a growing list of
partners including IBM, Robertson Stephens, TIBCO and Investec Ernst.
information on Javelin's electronic trading solutions, visit www.javtech.com.
For more information, please contact Stephanie Cohen of Javelin
Technologies, Inc., 917-320-4690, firstname.lastname@example.org; or Jennifer Hunt of
The Stephenson Group, 908-439-3660, email@example.com.