Young Dublin Entrepreneurs Awarded for Export Potential

13 October 2006

Hakan Guzelgoz and Stefano Rocco of Koelo Ltd. an innovative software solutions provider, based in the International Financial Services Centre (IFSC) in Dublin, recently received a special category award for Export Potential and a cash award of €500 at the Eastern Regional Heat of the Shell LiveWIRE Young Entrepreneur of the Year awards in Dublin Castle.

The Livewire programme, which is promoted worldwide by Shell and across the island of Ireland by Shell Exploration & Production in partnership with Invest Northern Ireland and the Department of Enterprise, Trade and Employment (DETE), celebrates the spirit of enterprise that is alive and kicking in young people aged 16-30.

Established in January 2006, Koelo Ltd provides modern Straight Through Processing (STP) solutions to global financial markets which optimize the trade-related communication process between Asset Managers, Brokers/Dealers and Fund Administrators.

Koelo’s products include “Spider Messenger” and “FIX Station” which will be available from November. Designed specifically for asset managers Spider Messenger is an electronic trading platform that connects the asset manager with the brokers/dealers counterparts using "the FIX protocol", a messaging standard widely used in finance. FIX Station is a real-time browser-based multi-client, multi-broker, electronic trading and order management framework suitable for the entire trade-chain including Asset Managers, Brokers/Dealers and Fund Administrators.

To date, Koelo has licensed Spider Messenger to Bank of Ireland Securities Services and MPS Asset Management, the asset management branch of the 5th largest bank in Italy "Monte Paschi dei Siena". MPS Asset Management uses the Spider Messenger to connect to 9 brokers/dealers with daily trading activity ranging from 500 up to 2000 trades per day.

Winners of the Eastern heat, John Beckett of ByamSys Ltd. and Mark Duckenfield and Conor McCarthy of Emergent Events Ltd, will compete for the prestigious title of the 2006 Shell LiveWIRE All Ireland Young Entrepreneur of the Year, which will be presented at a gala awards ceremony in The Pavilion at Leopardstown Race Course on Thursday 30th November.

Speaking at the Eastern region awards luncheon in Dublin Castle,
Ann Hamilton, Financial Director, Shell E&P Ireland said “We're delighted to be involved in the Shell LiveWIRE Young Entrepreneur of the Year event in Ireland for the seventh year. We believe strongly that supporting the development of young entrepreneurship is a key driver for the future competitiveness of the Irish economy. We are very impressed with the creative and innovative ideas of this year's entrants and we look forward to watching their businesses grow over the years.”

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