JERSEY CITY, N.J., July 21, 2010 (GLOBE NEWSWIRE) -- Direct Edge announced today the successful operational launch of its EDGA and EDGX Exchange platforms and the commencement of trading across all listed stock symbols.
"We are extremely proud to be America's newest stock exchange and are steadfast in our commitment to continue to bring innovative products, creative solutions, and increased competition to the markets," said William O'Brien, Chief Executive Officer of Direct Edge. "Our customers can benefit from our new, next-generation exchange platforms and infrastructure that have been designed to improve the latency, consistency, throughput, and performance of our markets and enhance overall user experience."
Direct Edge received exchange approval from the U.S Securities and Exchange Commission ("SEC") in March 2010 and began the process of transitioning from its legacy ECN platforms to its next-generation trading systems, located in state-of-the-art data center—the Equinix NY4 facility in Secaucus, New Jersey.
O'Brien added, "Today's launch would not have been possible without the efforts of our owners and employees, as well the support of our valued customers. We are also extremely grateful to our technology partners, who facilitated the development and launch of our new exchange platforms."
Direct Edge's technology partners are: Microsoft, HP, Intel, Cisco Systems, Equinix, Exegy, Scalability Experts, 29West Inc./Informatica, International Integrated Solutions, Telx, Wall Street Networks, Network Infrastructure Services, and Texas Memory Systems.
More information about Direct Edge is available at www.directedge.com.
About Direct Edge
Direct Edge, America's newest stock exchange, offers the next generation of displayed markets. With U.S. cash equities volume routinely exceeding 1 billion shares per day, Direct Edge uses multiple trading platforms and unique order types to match complementary forms of liquidity based on sensitivity to transaction cost, fill rate, and fill speed, while maintaining high execution quality and low latencies. Headquartered in Jersey City, N.J., Direct Edge is owned by a consortium that includes the International Securities Exchange, Knight Capital Group, Inc., Citadel Derivatives Group, The Goldman Sachs Group, and J.P. Morgan. More information about Direct Edge is available at http://www.directedge.com. Everybody Needs Some Edge.
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(C) 2010 Direct Edge ECN LLC. All rights reserved.