LONDON and NEW YORK, Jan. 24,
2011 /PRNewswire/ -- Trayport, a leading provider of
exchange trading systems worldwide, today announced that its
client, the Dutch Caribbean Securities Exchange (DCSX)
(www.dcsx.an), has gone fully operational using Trayport's
GlobalVision Exchange Trading System(SM) and is expecting its first
listings this quarter. The news coincided with DCSX's inauguration
ceremony held on 20th January which was attended by
dignitaries from Aruba,
Curacao, the Netherlands and Saint
Marten.
Financial institutions including Banco di Caribe, Amicorp, SFT
Bank, BNH Financial Services and Maduro & Curiel's Bank are now
authorized by DCSX as brokers and have fully tested Trayport's
Exchange Trading System. These institutions are connected to the
DCSX trading platform and are expected to start listing contracts
on the exchange in the first quarter of 2011.
"DCSX will primarily provide an exchange for the trading of
equities, fixed income and funds," said Luis Santine, CEO of DCSX. "We expect a
significant amount of fund listing in particular, as there is a
demand for local alternative investment opportunities that have
arisen from the constitutional change from the former Netherlands Antilles in 2010. The government
is only permitted to issue bonds freely, only after approval has
been gained, which can be a limiting factor for pension funds and
insurance companies. So, the exchange will be a way of creating
alternative investment for them. Many small to medium size firms
are also likely to list on DCSX as it is provides a cost effective
alternative to listing in the
Netherlands itself."
Trayport's (www.trayport.com) role is as a technology
facilitator to enable trading on DCSX. "In 2009 we initially
undertook preliminary work to explore the provision of a trading
system for the exchange," said Mr. Santine. "We defined objectives
and then looked at which platforms would be the most appropriate to
meet these. We quickly decided that Trayport was the best solution
for DCSX. In particular the experience that Trayport has in terms
of providing exchange technology to other markets worldwide was
important as well as offering us a flexible trading platform that
will expand as our markets grow."
"The trading platform has already proven to be user friendly. So
far the brokers that have used the system have been comfortable
with it and there have been no issues where they needed extra
training," he added.
At the inauguration ceremony for DCSX, His Excellency, Mr.
George Jamaloodin, Minister of
Finance said, "DCSX recognised the need for a professional, high
standard and skilfully operated securities exchange - and the many
opportunities it represents some time ago. Our country has a
financial sector of the highest standards. We are home to many
leading international companies. Due to its jurisdiction and
geographical position, Curacao
increasingly functions as a hub between the high growth economies
in Latin America and the
established industries in the US and Europe. The presence of a securities exchange
that is able to compete with other exchanges in the region is of
great importance to the wellbeing, development and growth of our
financial sector and therefore our economy as a whole."
About Trayport Limited
Trayport® is the leading provider of software to the global
commodity trading community. It develops, deploys and supports
quality, resilient software for trading in any asset class
worldwide in cleared or OTC markets. Trayport's GlobalVision(SM)
software is used by the world's largest trading companies in high
profile markets that include derivative and cash instruments.
Founded in 1993, Trayport has offices in London, New
York and Hong Kong.
Trayport is a subsidiary of GFI Group Inc. (NYSE: GFIG). More
information is available at www.trayport.com.
Forward-looking statement
Certain matters discussed in this press release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When used in this press
release, the words "anticipate," "believe," "estimate," "may,"
"might," "intend," "expect" and similar expressions identify such
forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated,
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herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks
and uncertainties. These include, but are not limited to, risks and
uncertainties associated with: acquisitions by us of businesses or
technologies; economic, political and market factors affecting
trading volumes, securities prices or demand for the Company's
brokerage services; competition from current and new competitors;
the Company's ability to attract and retain key personnel,
including highly-qualified brokerage personnel; the Company's
ability to identify and develop new products and markets; changes
in laws and regulations governing the Company's business and
operations or permissible activities; the Company's ability to
manage its international operations; financial difficulties
experienced by the Company's customers or key participants in the
markets in which the Company focuses its brokerage services; the
Company's ability to keep up with technological changes; and
uncertainties relating to litigation. Further information about
factors that could affect the Company's financial and other results
is included in the Company's filings with the Securities and
Exchange Commission. The Company does not undertake to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
SOURCE Trayport