Wednesday January 3, 7:30 am Eastern
Press ReleaseSOURCE: Javelin
Inc. Launches JavCentral, an Electronic Trading Service
Acquisition of Gateway Financial
Technologies, Inc. Strategic to New Offering
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
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.''
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.
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.''
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
``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
Javelin Technologies, Inc.
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.
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.