EL SEGUNDO, Calif., February 22, 2005 - Traders worldwide continued to help fuel the growth of MB Trading (MBT) in 2004, solidifying the direct-access brokerageâs place as a rising star in the industry, according to year-end financials released today.
Total equity share volume grew more than 15 billion shares from 2003 to 2004, or approximately 1,500 percent. Overall equity trades also increased, rising more than 700,000 trades in a year-to-year comparison, representing a 145 percent increase.
"The continued growth is reinforcement of our business model," stated Ross Ditlove, CEO and co-founder of MBT.
"Weâre an electronic brokerage that emphasizes execution, price, and service over all else," said Ditlove. "These numbers tell us traders recognize that fast executions without low prices and exemplary support are not acceptable in todayâs market place. The team at MB Trading follows a very strict course of technology development. We do not release services or features without the ability to fully support them."
MBT also experienced strong growth in futures (offered through MB Trading Futures) and options trades, which Ditlove says, "is a direct reflection of our ability to bring our best-execution capability and intuitive software to that part of the business." MBTâs futures trade count grew by almost 200,000, or 248 percent, with a corresponding increase in contracts traded of 304 percent. Similarly, options trades increased by 18,000, or 395 percent, with a corresponding increase of 581 percent in contracts traded.
Finally, total funded retail accounts increased 88 percent to approximately 6,000 accounts, net of MBTâs institutional business.
Ditlove sees continued growth for 2005 with the introduction of core technologies and services that will bring additional value to a demanding client base.