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Courant Technologies Becomes Fortex, Inc.
Fortex to Market Premier Multi-asset Trading Platform Directly
to Leading Trading and Investment Firms
REDWOOD SHORES, Calif., December 21,
2005 – Fortex, Inc., provider of the industry’s
only independent, real-time multi-asset trading platform for
the equities, options, futures, and foreign exchange markets,
today announced that it has changed its name from Courant
Technologies, developer of the popular OpenEx trading system,
to Fortex, Inc. The name change and re-incorporation reflects
the company’s decision to maintain and strengthen its
position as a neutral technology provider to the world’s
leading broker-dealers, trading firms, banks, clearing houses,
and hedge funds.
“Fortex is building on its strong track record with
traders and financial institutions who enthusiastically adopted
the OpenEx product,” said Daniel Chen, Fortex President.
“We have a well-earned reputation for delivering successful
technology solutions and an ability to anticipate industry
needs. As we continue to help our current customers improve
their trading insight and execution, we will also deliver
next-generation capabilities to equities, options, futures,
and foreign exchange trading.”
Fortex will market hosted, customized trading systems directly
to leading trading and investment firms. As noted in a separate
release, today Fortex also announced the launch of its Fortex
Equities Plus and Fortex FX platforms. Fortex Equities Plus
provides neutral, direct real-time access to all U.S. exchanges,
electronic communication networks (ECNs), and key market makers
for execution of equities, options, and futures trades. Advanced
artificial intelligence (AI) routing and rules-based order
management support the most sophisticated trading strategies
and automatically locate pools of maximum liquidity, discover
price improvements, and minimize market impact. Equities Plus
accelerates execution and reduce transaction costs.
Fortex FX is optimized for buy-side and sell-side institutions,
connecting major bank dealing systems and execution services
in real time. Unique Fortex FX Multibank Portal software enables
real-time Executable Streaming Quotes (ESQ) from more than
50 liquidity providers for over 80 global currency pairs over
the Fortex proprietary network. Straight-through Processing
(STP) places orders automatically for instant, low-cost execution.
The platform can also function as an open-end FX exchange
system.
Thousands of traders in the U.S., Europe, Asia, and the Middle
East already use the Fortex always-on platform to trade foreign
exchange, and the company’s network hosts an average
daily currency trading volume of US$500 million.
Fortex is headquartered in Silicon Valley with an office in
New York City’s financial district. The company is privately
held.
About Fortex
Fortex develops and deploys premier multi-asset trading systems
for equities, options, futures, and foreign exchange trading.
It is the only company to provide a completely neutral, real-time
platform that provides direct access to major global exchanges
and leading market makers through a single trading interface.
For more information, please visit www.fortex.com
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