Signals Evolution of Firm to Global Solution Provider, Changes Name, Refocuses Offering
(New York: January 17, 2006) Tradeware Systems Corp. today announced a new corporate identity – Tradeware Global Corp. – that reflects the firm’s new focus on providing strategic cross-border trading solutions and its expanding presence in Europe, Asia and emerging markets.
Brand repositioning comes as the next logical step in the series of changes Tradeware has undertaken in the past six months towards strengthening its corporate structure and expanding its market position. The name change further reflects the evolution of the firm from its previous position as a largely domestic provider of routing and OMS technology to its new role as a provider of a unique strategic global solution that gives institutions – through their broker dealers - seamless electronic access to 58 equity markets in more than 40 countries worldwide.
In June 2005, Tradeware recruited Howard J. Schwartz as Chairman and CEO. Schwartz is credited with building the concept of commission recapture at Lynch, Jones, and Ryan, which became a Wall Street powerhouse.
Following his appointment, Schwartz developed and implemented the new business strategy and Tradeware is now focused on delivering its value added GlobalX™ product as well as increasing its customer service levels for all its US domestic businesses.
Tradeware’s GlobalX equity trading model has increasingly gained interest among broker-dealers and their institutional clients alike. On one hand it enables Tradeware’s sell-side participants to minimize regulatory and risk capital requirements by allowing them to execute and settle all trades as true 'Agency' transactions regardless of the destination market. On the other hand, this model provides institutional investors with reliable anonymous access to numerous exchanges worldwide. GlobalX™ allows cross-border trading to be carried out worldwide with the same costs and efficiencies as are available in the local market. Tradeware facilitates the entire life cycle of the trading process, from execution to clearing and settlement, while remaining completely neutral throughout. Clients maintain control over the entire process, giving them flexibility to direct order flow to the brokers and execution venues of their choice.
Said Howard Schwartz, Chairman & CEO of Tradeware Global, "Tradeware Global is committed to bringing investors the same technological benefits, efficiencies and cost-effectiveness in global markets that they enjoy when trading U.S. domestic equities. We are convinced that the company is now poised to provide such efficiencies and savings, and that in doing so we will fundamentally change the nature of global equity trading. We can expect to see more cross-border flow through GlobalX™. This increased flow will enhance the role of broker-dealers, enable more efficient cross-border investment, and ultimately enhance the capital formation process for non-U.S. markets.
"The securities industry demands ever more advanced technology and near instantaneous access to liquidity, while taking into account both transaction costs and regulatory requirements. In GlobalX™ we have put them together on one platform. Our model is designed to meet both current demand and to anticipate how markets may evolve."
The new Tradeware Global’s corporate identity features a distinctive red and white "spheres" logo that is now integrated into the firm’s sales and marketing collateral. Tradeware’s products and marketing materials will also include two new taglines – "Making Global Markets Local™" and "Where Do You Want to Trade Today?™" – to highlight the firm’s novel approach to cross-border trade and settlement. Along with the launch of the new corporate identity, Tradeware introduced a new website.