Micro Design Services, LLC
Roman Szymansky, President
Phone: 973.402.4334 x101
roman@microdesignservices.com
www.microdesignservices.com
FOR IMMEDIATE RELEASE
9 AM EDT, June 2, 1998
MICRO DESIGN SERVICES, LLC
AND PACIFIC EXCHANGE, INC. LAUNCH A WIRELESS HAND-HELD
COMPUTER BASED OPTIONS ON SECURITIES ORDER BOOK MANAGEMENT
AND BROKER TRADING SYSTEM
MICRO DESIGN SERVICES, LLC
(MDS), UNDER CONTRACT TO PACIFIC EXCHANGE, INC. (PCX)
SUCCESSFULLY LAUNCHED A WIRELESS HAND-HELD COMPUTER BROKER
TRADING SYSTEM FOR USE ON PCX'S OPTIONS TRADING FLOOR
IN SAN FRANCISCO.
The system, which was designed and
developed by MDS in close cooperation with PCX's staff,
accepts orders for securities options, from member firm
interfaces through PCX's POETS order processing system,
from member firms' booth terminals on the trading floor,
and routes the orders over a spread-spectrum 2.4 GHz wireless
LAN to the appropriate executing brokers in the trading
pits. Brokers' executions are reported wirelessly in real-time
to the Exchange and to the member firms for customer notification.
All activity in the system is fully audit-trailed with
the date-time of action. The initial system is designed
to handle up to 150 wireless hand-held computers and 150
booth computers.
PCX is one of the world's leading options
markets and the nation's premier regional stock exchange.
Its two equities floors trade nearly 2,700 securities,
including most of the active issues listed on the New
York and American Stock Exchanges. PCX's options floor
trades more than 800 stock options and four index options.
MDS is one of the foremost wireless
systems developers and integrators in the country. They
have developed systems for many of the world's largest
securities and futures exchanges.
About
Micro Design Services, LLC
Micro Design Services, LLC (MDS) is an industry
leader in the design and development of sophisticated
software products for the financial industry. MDS provides
its customers with outstanding technology, enabling them
to compete in a rapidly changing environment. The company
created the patented MarketLook™ Information System
(MLIS) , and designed and developed many of the order
m anagement and r outing systems used on leading equities,
options, and futures exchanges in the US. These systems
incorporate the latest in wireless radio technology, and
mobile tablet computer products. Founded in 1990, MDS
is headquartered in Parsippany, New Jersey. For more information,
visit www.microdesignservices.com.
