ADA, Mich., Oct. 19, 2005 â Global Forex Trading announced today that it ranked 16th on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on percentage of revenue growth over five years, from 2000â2004. GFT grew 15,518 percent during this period.
Gary Tilkin, president and CEO of GFT, attributes the companyâs 15,518 percent revenue growth to its commitment to developing trading software for the foreign exchange market, and the companyâs ability to deliver nonâstop customer service and technical support to a client-base in more than 100 countries worldwide.
"DealBookÂ® FX 2, our online currency trading software, significantly attributed to our tremendous growth rate over the past five years. We have been able to overcome service barriers faced by traditional telephone brokers and trading floor exchanges. There is tremendous demand for services in online currency trading, and we have been at the forefront of shaping and leading the industry, which we feel is still in its infancy," said Tilkin.
GFT earned the honor of being named as only one of two companies from Michigan on the list, and was also the highest ranked company in the Midwest. This is the first year GFT has submitted the company for consideration in the Technology Fast 500.
"Attracting enough customers to attain such fast growth over five years makes a strong statement about the quality of a companyâs product and its leadership," said Tony Kern, deputy national managing principal of Deloitteâs Technology, Media & Telecommunications industry practice. "GFT has shown the right stuff for growth."
Overall, companies that ranked on the 2005 Technology Fast 500 had growth rates ranging from 240 to 73,752 percent over five years, with an average growth rate of 2,408 percent.
The Fast 500 list is compiled from Deloitteâs 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 2000 operating revenues of at least $50,000 USD or $75,000 CAD for the United States and Canada, respectively, and 2004 operating revenues of at least $1 million USD or CAD.
Entrants must be headquartered in North America and must be a âtechnology company,â defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.
This designation is the latest in a series of honors GFT has received. In 2004, Tilkin was named a regional winner in the Ernst & Young Entrepreneur Of The YearÂ® program for the financial services category, and then went on to be named as one of only three in the nation to earn the status of EOY National Finalist. GFT was also awarded the honor of being named as one of "50 Companies to Watch in Michigan" in 2005.
Founded in 1997, Global Forex Trading (GFT) is a world-leading provider of real-time currency dealing, pricing and comprehensive services for retail and institutional foreign exchange traders. Serving a global customer-base in more than 100 countries through its DealBookÂ® FX 2 trading software and 24-hour dealing operation, GFTâs world headquarters are in Ada, Michigan, with sales offices located in New York, Chicago, Tokyo and Sydney, Australia.