New SpoozToolz Module to Play Key Role in Symbol Management Process Developed by SFB Market Systems
28 Maio 2008 - 8:00AM
Business Wire
Spooz Technologies, Inc., a wholly owned subsidiary of Spooz, Inc.
(Pink Sheets: SPZI) and SFB Market Systems, Inc. (SFB) a privately
owned corporation are excited to announce that their new joint
venture company, the Symbol Management Clearing Corporation (SMCC),
will employ a new SpoozToolz module, �SymbolToolz��, as a key
component of Symbol Manager� and Symbol Master�s� symbol request,
approval and management process. The process enables, 1) exchanges
to request and reserve symbols for currently trading instruments or
new issues; 2) sell side brokers to request option strikes, spreads
and synthetic symbols, and; 3) buy side market participants, such
as hedge funds, fund managers, institutions and independent
traders, to electronically request symbols from their brokers or
clearing providers for any exchange listed instrument, or synthetic
spread or basket of listed instruments. �These new developments in
no way signal a change in the direction of our company,� stated
Paul D. Strickland, Jr., the Spooz CEO. �Our new joint venture
simply illustrates the flexibility of SpoozToolz and, in reality,
shows how SpoozToolz is applicable to hundreds of transaction
processing and messaging revenue streams besides trading.� In
addition, the process will allow market participants to view
pending symbols on two levels, 1) those pending symbols that are
not attached to resting orders; 2) those symbols that show size on
the bid or offer side of a trade. This will dramatically assist
brokers in developing markets for large customers before new
symbols are approved. A diagram of the new SMCC process will be
available for viewing today at www.Spooz.com and
www.SymbolMaster.com. �The SMCC process is geared to meet the needs
of the investment and financial communities to ensure that best
execution in trade clearing is achieved more efficiently than ever
before. This new process brings an entirely new dimension to the
sophisticated trading environments of today and is truly a step
forward into the next generation of electronic trading,� said Lee
Clifford the new CEO of SMCC. Negotiations between Spooz and SFB
are continuing at a highly cooperative level with the next meeting
scheduled for Thursday, May 29th in Chicago. According to the terms
of the Letter of Intent executed on May 22, definitive agreements
for the new private joint venture company are due for completion
before July 31, 2008. About Spooz, Inc. Spooz, Inc. is an
independent software vendor developing revolutionary trading
solutions for active and professional electronic traders. Spooz's
suite of technology products provide the most versatile
configuration of trading screens, analysis screens and automated
trading systems in a fast growth financial marketplace. Spooz is a
trading solutions company focused on next generation traders.
SpoozToolz�, AlgoServer�, SpoozChartz�, Spooz AutoSpreader�,
ToolzKit� and Spooz CPM�, the Company's flagship products enable
any trader to quickly and efficiently bridge the gap between
concept and execution. The value of the SpoozToolz platform is that
it allows any trader to create trading applications that retain
flexibility and customizability, are simple to use, and facilitate
bringing trader�s ideas to production before opportunity for profit
is lost. About SFB Market Systems, Inc. Founded in 1994, SFB has
been the industry expert in options symbology for over 14 years and
has provided the options exchanges with both technology solutions
and data management services. SFB currently manages all option
symbology traded in the U.S. through its proprietary software known
as Symbol Manager� and Symbol Master�. Symbol Manager� which is
used by the options exchanges to manage and generate options series
data is integrated with Symbol Master�, also used by the exchanges
and market participants as the centralized repository for options
symbology and reference data. SFB is dedicated to servicing the
financial industry with the management and distribution of the most
accurate, reliable and up-to-the-minute symbology information. In
addition, SFB works to provide support to the Options Symbology
Initiative. Forward Looking Statements This press release contains
statements, which may constitute "forward-looking statements"
within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities
Litigation Reform Act of Forward-Looking Statements: This news
release may contain forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. These statements
present management's expectations, beliefs, plans and objectives
regarding future financial performance, and assumptions or
judgments concerning such performance. Any discussions contained in
this release, except to the extent that they contain historical
facts, are forward-looking and accordingly involve estimates,
assumptions, judgments and uncertainties. There are a number of
factors that could cause actual results or outcomes to differ
materially from those addressed in the forward-looking statements.
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