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Ubitrade tackles competition in Chicago

Ubitrade, a leading supplier of advanced system solutions for the finance
industry, today announces that Chicago based Gelber Group LLC successfully
converted from Rolfe & Nolan's Risc onto Ubix, Ubitrade's derivative processing software.

Gelber Group business focus is worldwide electronic trading for professional traders. Ranked as one of the top 50 FCM's by Futures Magazine, Gelber uses UBIX for high volume back-office processing of listed derivatives.

Ubix provides Gelber with clearing & settlement of exchange-traded derivatives. Ubix features include multi-company account structure and multiple clearing levels, daily margining, automated trade and market data entry from exchanges, and an extensive range of control reports and customized client statements.

Gelber also acquired Ubix' [email protected] module, which offers Internet access for end-users, enabling Gelber's clients to access to their positions, statements and trades in real time, and to download this information into their own position keeping, risk management or accounting systems.

Didier Varlet, Chairman of Ubitrade, commented: "The successful conversion of the Gelber group is an important milestone for Ubitrade's deployment in the US, demonstrating we have now reached a size and gained a legitimacy enabling us to answer the expectations of the large volume trading firms''