Piper Jaffray Selects Vhayu Velocity to Strengthen Algorithmic and Program Trading Groups

NEW YORK - LONDON, April 3, 2006 – Vhayu, a leader in streaming tick processing and persistence software, today announced that Piper Jaffray has selected its Vhayu VelocityTM platform to power micro-market strategies within its algorithmic and program trading groups.

Following client demand and industry regulation, Vhayu was selected based on its ability to capture and analyze massive amounts of streaming and historical data, providing Piper Jaffray with a high-speed, scalable platform to enable precise, overnight market analysis and enhance their trading programs.

In addition, the Velocity platform offers Piper Jaffray advanced order book data analysis and storage capabilities, providing precise nightly snapshots of the market and enabling trading applications to achieve best execution with zero latency. Piper develops its strategies using Level 2 data provided by Lava, sourced from ARCA, BRUT, INET and TotalView.

"By deploying Vhayu Velocity as our market data analytics platform, we gain the ability to quickly replay the market, build and validate our statistical models, and analyze our trading performance, all within the same engine," said Charles Kennedy, Managing Director, Piper Jaffray.

"As market data volumes continue to increase in light of new industry regulations, the ability of firms to quickly and reliably process, persist and act upon tick data will become a crucial component of efficient trading applications," noted Jeff Hudson, CEO of Vhayu. "We are thrilled that Piper Jaffray has chosen Vhayu to capture and analyze this critical data and provide full depth-of-book analysis to support its algorithmic and program trading groups."

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