Mantara Offers Flexible Deployment Of expressWay Through New Broker-Dealer

Jersey City - 28 July 2010

Clients Benefit from Access to Leading Low-Latency Trading System through MantaraX

Mantara, Inc., a provider of advanced technology solutions for high-frequency trading, announced that it has received broker-dealer registration approval from FINRA for MantaraX™, its new trading entity. Established to offer clients greater flexibility in structuring access to and executing order flow through Mantara’s expressWay™ trading platform, MantaraX underscores the Company’s commitment to providing client-oriented approaches to delivering the benefits of its ultra-low latency trading technology.

MantaraX was established as a ‘non-executing’ broker-dealer for the express purpose of providing Mantara’s sponsoring broker-dealer clients with a technology business model that directly supports tighter alignment of trade execution costs and associated revenue streams. Sponsoring broker-dealer clients now have the option to apply variable costs to their trading technology based on the volume of commission dollars generated from trade executions initiated through Mantara’s expressWay. This reduces the broker-dealer’s exposure to fixed upfront expenditures and monthly fees that may not be supported by commission revenue generated by their sponsored clients.

Commenting on the newly launched broker-dealer, John Power, CFO of Mantara and CEO of MantaraX, said, “We are delighted to provide our sponsoring broker-dealer clients with the ability to custom-structure their participation with Mantara for a solution that best fits their usage model and provides their high-frequency trading clients with seamless access to expressWay’s leading edge execution software. It is innovative approaches such as these that place Mantara at the forefront of the technology providers in our space.”
Kevin Beadles, managing director of Wedbush Securities, stated, “We are excited to see MantaraX established as a registered broker-dealer. We believe this will support a partnership approach that will enable us to grow our business well beyond the conventional models currently deployed through more traditional software vendor relationships.”

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