Pacific Stock Exchange
Dale Carlson
415.393.4198
dcarlson@pacificex.com
www.pacificex.com
Roman Szymansky, President
Phone: 973.402.4334 x101
roman@microdesignservices.com
www.microdesignservices.com
PACIFIC STOCK EXCHANGE IMPLEMENTS
MICRO DESIGN SERVICE’S ENHANCED FLOOR BROKER HANDHELD
SYSTEM
San Francisco – September 2,
2003 - The Pacific Stock Exchange (PCX) today announced
the successful implementation of Micro Design Services,
LLC’s (MDS) enhanced Floor Broker Handheld System
(FBHH). The enhancement to the existing floor broker handheld
system allows the floor brokers to route orders to PCX
Plus and see the depth of market maker’s books and
to trade against these book orders on their handhelds.
Previously, FBHH could book customer
orders to the PCX Book only. With the new system, floor
brokers can route all customer and non customer orders
to PCX Plus, where orders can be held at the PCX until
they are marketable. Floor Brokers then can receive credit
for the execution, instead of sending the order to another
exchange.
The FBHH is one component of the new
PCX Plus system, which is added functionality that fulfilled
SEC Intermarket Linkage Requirement that was rolled out
in February 2003. This requirement provides for access
among the five options exchanges (the American Stock Exchange,
the Chicago Board Options Exchange, the International
Securities Exchange, the Pacific Exchange, and the Philadelphia
Stock Exchange) and better ensures customer orders trade
at best published price.
The entire PCX floor will be upgraded
to new FBHH. At completion, the rollout will include 30
booth terminals and 45 hand held devices. MDS has developed
and implemented similar systems for the New York Stock
Exchange and the New York Board of Trade.
The Pacific Exchange (PCX) is a marketplace
where individual and institutional investors, professional
broker-dealers, and registered member firms meet to buy
and sell options on more than 1,200 stocks. It is one
of the world's leading derivatives markets.
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.
