PHILADELPHIA- June 22, 2006 —
The Philadelphia Stock Exchange announced today that the PHLX
and TORC Financial, LLC (TORC) have entered in to an agreement
for a joint development project to provide ancillary services
to the new, all electronic PHLX-XLE Equity Trading System. Expected
services to be developed by TORC and licensed to the PHLX include
VWEB, a system that allows for the entering of cross orders by
PHLX floor brokers, as well as Help-Desk and operational support
tools. In addition, TORC will also provide consulting and advisory
services as necessary to ensure the successful implementation
and expected growth of the PHLX-XLE System, as well as the continued
success of PHLX as the nation's oldest and most innovative securities
exchange.
The Philadelphia Stock Exchange was founded in 1790. The PHLX
trades 1,943 stocks, more than 2,200 equity options, 19 sectors
index options, and currency options and futures. For more information
about the PHLX and its products, visit www.phlx.com.
TORC Financial, LLC, is a financial-automation software design
firm committed to the development of high-performance trading
solutions for the Equity, Options, and Futures markets. With a
highly specialized staff of Mathematics Doctorates, computer system
engineers, and electronic trading specialists, TORC Financial
is uniquely capable of responding rapidly to changing demands
in an increasingly sophisticated industry.
