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Edgetrade Closes Series A Financing with the Edison Venture Fund
14 June 2005
EDGETRADE, a privately held independent provider of Agency Algorithmic Trading Strategies and Advanced Direct Market Access (DMA) trading technologies, announced today, it has completed its first round of Venture financing from the Edison Venture Fund. Established in 1986, Edison provides capital and value-added services to expansion stage information technology businesses. The company will utilize the proceeds to expand technological development, implement marketing programs, and increase client services.
Edgetrade serves hedge funds, mutual funds, asset managers, and specialized broker-dealers who recognize the value and differentiation that an independent agency Algorithmic and DMA provider can bring to their operation. The company's technology gives clients direct access to various pools of liquidity, enabling best execution for their trading activity. Edgetrade's proprietary algorithms allow asset managers to move large blocks of stock anonymously, efficiently, with lower market impact and transaction costs based on the clients specific objectives. Edgetrade also works with clients to customize algorithms based on their specific trading needs. Both the DMA and Algorithmic services are delivered without the conflicts of interest that are inherent at firms that engage in proprietary trading.
"With Edison's support, we expect to enhance our unique position as one of the few truly independent and unconflicted electronic agency broker-dealers,"stated Edgetrade President, Kyle Zasky. "Edgetrade's independent, agency model is well positioned to offer best execution to its clients. Given the current regulatory environment, Edgetrade offers a differentiated and compelling value proposition to market participants." Stated Edison Principal Chris Sugden. Sugden will also be joining the company's Board.
Joseph Wald, Chief Executive Officer added, "The progression towards 'smarter' automated trading tools continues to accelerate, and with this investment, we are well positioned to continue to be on the forefront of creating advanced trading applications across multiple trading venues. Our consultative approach to understanding our clients execution objectives allows us to deliver relevant and customizable tools that truly create value."
About EDGETRADE
EDGETRADE.com, Inc., established in 1996, is a leading provider of Direct Market Access (DMA) trading and Agency Algorithmic services through its proprietary technology. Clients can connect to EDGETRADE via the EDGE Execution Management front-end, FIX or through our partners including Bloomberg, Portware, and Tradeware. As an agency-only broker-dealer and software developer, the company's mission is to provide unconflicted, next generation technologies specifically designed to cater to institutional clients. Located in the heart of Wall Street, EDGETRADE currently provides world-class service to over 150 institutional clients. EDGETRADE is a member of the NASD and SIPC. For more information please visit www.edgetrade.com.
About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to expansion stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $3 to 5 million. Edison typically serves as a sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases. Edison's 18 investment professionals are based in three offices: Lawrenceville, NJ, Bala Cynwyd, PA, and McLean, VA. Industry specialties include application software, education, financial services, healthcare & pharmaceutical IT and electronics. Edison's successes include ACT!, Axent, BTG, Dendrite, Eastern Telelogic, Fiberlink, InSoft, Marcam, QSS, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $420 million under management and is actively making new investments. For more information please visit www.edisonventure.com
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Contact:
For Edgetrade
Andrew Krieg, 561-302-1684
Press-sure@email.com
or
Kyle Zasky, 646-981-1201
Kyle-zasky@edgetrade.com
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Source: Edgetrade
Source: Business Wire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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