Townsend Analytics News

RealTick fully prepared for Options Symbology changes starting in February

Fri, 05 Feb 2010 19:10:11 GMT

Beginning February 12, 2010 a number of significant changes come into force for participants trading, reporting and managing options. RealTick fully supports these industry changes, which will make execution in options easier for traders and investors.

These changes relating to option symbology, how the instrument is commonly designated, include:

A migration from OPRA’s (Options Price Reporting Authority) code to a clear definition based on multiple fields – the option symbol, maturity, day, call/put indicator and strike price
All equity strikes, currently in fractions, will be decimalized

RealTick has, since mid 2009, been working closely and testing actively with the industry and key partners to ensure full operability, support and a seamless transition to the new symbology for clients.

Further industry background and detail can be view at www.theocc.com

Below are detailed the phased changes to options symbology:

Current TAL Symbol: +RRRnz (OCC root, month & P/C indicator, strike price indicator)

Current Representation
Option Symbol	OPRA Code	Option Strike	P/C	Expiration Date	TAL Symbol
NQ	BD	20.000	C	02/2010	+NQBD
NQ	ND	20.000	P	02/2010	+NQND

12 February – May: Consolidation Phase TAL Symbol: +RRRddnyss.ss (OCC root, day, month & P/C indicator, year, strike)

Market Open As of 2/12/2010
Option Symbol	Option Strike	P/C	Expiration Date	TAL Symbol
NQ	20.000	C	2/20/2010	+NQ\20B0\20
NQ	20.000	P	2/20/2010	+NQ\20N0\20

May onwards: Post Consolidation Phase

Post Consolidation
Option Symbol	Option Strike	P/C	Expiration Date	TAL Symbol
INTC	20.000	C	4/17/2010	+INTC\17D0\20
INTC	20.000	P	4/17/2010	+INTC\17P0\20

Following the transition, the Townsend Analytics OSI symbology will be:

+UUUUUUddnyss.ss.

Symbology defined:

UUUUUU = series code, based on underlier, 1-6 characters.
dd = 2-digit day of month.
n = month code as in Opra Month Codes, also indicating Put vs Call.
y = last digit of 4 digit year code (e.g. 2010 = 0, 2011 = 1).
ss.ss = strike price, normalized to contain the minimum number of decimal places, e.g. 12.5 rather than 12.50.

OPRA Month Codes:

Month:	Call Month Code	Put Month Code
January	A	M
February	B	N
March	C	O
April	D	P
May	E	Q
June	F	R
July	G	S
August	H	T
September	I	U
October	J	V
November	K	W
December	L	X

Illustration of symbology code change for INTEL Corp displayed below:

12 February – May: Consolidation Phase

May onwards: Post Consolidation Phase

RealTick sponsors TradeTech’s Buy-Side Trading Summit and Conference, New York 22-24 February 2010

Thu, 04 Feb 2010 14:52:03 GMT

RealTick sponsors TradeTech’s Buy-Side Trading Summit and Conference, New York 22-24 February 2010. Come and visit our stand at the Marriott Marquis, New York, to see how RealTick Execution Management System can make your trading easier.

Click here for Buy-Side Summit agenda.

Click here for Conference details.

RealTick at TraderForum's 2010 Equity Trading Summit

Mon, 25 Jan 2010 18:50:38 GMT

Come and visit our stand on 28 January at the Grand Hyatt in New York to see how RealTick Execution Management System can make your trading easier.

Click here to view the agenda.

For more information, visit http://www.iimemberships.com/.

RealTick EMS adds the latest Equity Algorithms and Futures Execution from Deutsche Bank

Mon, 14 Dec 2009 15:49:27 GMT

USA, New York , December 14, 2009 — RealTick (www.realtick.com), the leading global multi-broker, cross-asset electronic trading platform, has integrated the latest suite of global equity algorithms and futures execution capabilities from Deutsche Bank. This builds on a longstanding relationship between the two companies.

RealTick users can now access the latest algorithmic strategies including Stealth, Target Close and Optimal Portfolio Execution (OPX), as well as custom strategies. Clients can execute algorithmic, worked and direct to market orders via Deutsche Bank’s autobahn global trading platform, leveraging the smart order router to reach equity liquidity in multiple venues. In addition RealTick users can execute futures contracts directly on the market via Deutsche Bank’s newly integrated DMA capabilities.

Michel Finzi, Global Head of Business Development, with RealTick comments, “Deutsche Bank and RealTick have a longstanding relationship and we are pleased to make their latest equity and futures products available via RealTick. Across the board, RealTick clients require the ability to access the latest algorithmic strategies from their key trading partners efficiently and quickly, through a single trading platform.”

“In order to deliver on this requirement RealTick has developed Deutsche Bank’s latest algorithms using the Algorithmic Trading Definition Language (ATDL) - the new industry standard from FIX. Our implementation of ATDL significantly speeds up the deployment of new algorithms from the broker to the trader. RealTick clients can route orders to Deutsche Bank’s strategies, including the ability to overlay the broker’s ‘I would’ strategy,” continues Finzi. “The RealTick EMS is built on a ‘best in class’ technology infrastructure, offers reliable data and the robust operations, service and support capabilities our clients demand.”

Deutsche Bank is part of RealTick’s global multi-broker network, which includes, among many others, Bank of America Merrill Lynch, Barclays Capital, BNP Paribas, BNY Convergex, CA Cheuvreux, Citigroup, Credit Suisse, Goldman Sachs, Instinet, JP Morgan, MF Global, Morgan Stanley, Nomura Securities, RBC Capital Markets, Societe Generale, and UBS.
RealTick recently upgraded its category defining multi-asset class EMS with enhanced single stock and list trading functionality including, advanced benchmark analysis and industry sector management, plus dynamic navigation and order entry tools, as well as sophisticated options trading capabilities. These enhancements enable traders to fully configure and simplify their workflow, in order to stay focused on achieving better trading performance across broker algorithms, liquidity pools and asset classes in one click.
***
About RealTick
RealTick is the electronic trading industry’s premier global, broker neutral, multi-asset Execution Management System (EMS). RealTick’s unsurpassed flexibility and customizability streamlines trader workflow by delivering a fully integrated front-to-back solution, including sophisticated trading tools; unrivalled electronic access to leading global brokers, exchanges, ECNs and ATSs, plus alternative pools of liquidity; real-time market data, news, analytics and risk management tools. Used by institutions, broker-dealers and traders worldwide, RealTick EMS is supported by state-of-the-art global data centers and a redundant network for ultimate stability and resiliency. For more information, visit www.realtick.com.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

***
Contacts:
Townsend Analytics
Rustam Lam, Director
+44 (0) 20 7786 5091
rlam@realtick.com

Deutsche Bank – Europe
AESales.emea@db.com
+44 (0) 20 7547 2587
+1 800 553 1226

RealTick® expands its electronic execution platform with Real-Time TCA from UBS Fusion

Mon, 02 Nov 2009 15:35:00 GMT

London, United Kingdom, November 2, 2009 — RealTick (www.realtick.com), the leading global multibroker, cross-asset electronic trading platform has further expanded the electronic execution products clients can access through RealTick EMS to include the UBS Fusion web-based platform of transaction cost analysis tools, including their new Real-Time TCA offering. This enables clients to seamlessly manage single stocks and portfolios between the RealTick EMS and UBS Fusion, creating a powerful combination of analytics and execution capabilities.

“We are pleased to have expanded our long standing relationship with UBS by integrating a leading TCA product, Fusion, into RealTick. Our clients will be able to benefit from easy access to high quality single stock and portfolio trading cost analytics, both historical and real-time, adding substantial value to their trading decisions and execution,” comments Peter Ward, Head of International Business Development for Townsend Analytics.

“Our ongoing focus is to ensure our clients have direct and easy access to their key trading partners and their value added trading tools and liquidity wherever it may reside globally. The addition of a broader range of UBS products enables clients to access a major global broker with established expertise across electronic execution and TCA tools,” Ward adds.

Tim Wildenberg, Head of UBS Direct Execution for EMEA, said: “The seamless integration of transaction cost analysis and trading execution is very powerful for today’s electronic traders. Integrating UBS Fusion into RealTick’s EMS raises the bar even higher -- Fusion makes real-time execution information available while clients’ orders are live allowing them to easily and efficiently manage, monitor and quickly adjust active orders. When delivered via RealTick EMS alongside our existing equity and equity options algorithmic trading and DMA services, the result is a set of tools that deliver tremendous opportunities to enhance performance.”

RealTick recently upgraded its category defining EMS with enhanced single stock and list trading functionality, more sophisticated options trading functionality and advanced workflow capabilities, which further empower traders to more effectively manage trading strategies across multiple brokers, asset classes, and liquidity pools in one click.

***
About RealTick
RealTick, created by Townsend Analytics, is the electronic trading industry’s premier global, broker neutral, multi-asset Execution Management System (EMS). RealTick’s unsurpassed flexibility and customizability streamlines trader workflow by delivering a fully integrated front-to-back solution, including sophisticated trading tools; unrivaled access to leading global brokers, exchanges, ECNs and other pools of liquidity; real-time market data, news, analytics and risk management tools. Used by institutions, broker-dealers and traders worldwide, RealTick is supported by Townsend’s state-of-the-art global data centers and a redundant network for ultimate stability and resiliency. For more information, visit www.realtick.com.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Barclays Bank PLC. For more information, visit www.townsendanalytics.com.

Media Contacts:
Townsend Analytics
Rustam Lam, Director
+44 (0) 20 7786 5091
rlam@realtick.com

RealTick® Execution Management System (EMS) connects to Goldman Sachs for Global Equities Execution

Fri, 30 Oct 2009 21:02:13 GMT

USA, Chicago, October 12, 2009 — RealTick (www.realtick.com), the leading global multi-broker, cross-asset electronic trading platform, has added Goldman Sachs to its international multi-broker network. This important arrangement allows clients to access Goldman Sachs Electronic Trading (GSET) through RealTick EMS.

RealTick users can now access the latest range of equity algorithms from GSET. Clients will also have the ability to send orders to Goldman Sachs’ ATS, SIGMA X, as well as send orders directly to the market via Goldman Sachs’ SIGMA smart order router, allowing customers to reach a broad pool of equity liquidity globally.

Michel Finzi, Global Head of Business Development, Townsend Analytics comments, “Clients, across the spectrum, increasingly want to take greater control of order execution and access to their key trading partners. There is strong demand to have a single system on their desk, from which they can easily and efficiently manage and route orders to the brokers and venues of their choosing. We already have a number of institutions connected and sending orders to GSET via RealTick, with several more in the pipeline.”

“We are pleased to have added Goldman Sachs, a leading provider of market liquidity in global equities, onto the RealTick network. We believe RealTick clients will benefit from being able to route orders to GSET via thirteen algorithmic strategies, including regional specific ones, without changing platform or interface,” continues Finzi. “RealTick is a global, multi-broker EMS that streamlines and simplifies user workflow, with the technology infrastructure, reliable data and robust operations.”

Goldman Sachs joins RealTick’s global multi-broker network, which includes, among many others, Bank of America Merrill Lynch, Barclays Capital, BNP Paribas, BNY Convergex, CA Cheuvreux, Citigroup, Credit Suisse, Instinet, JP Morgan, MF Global, Morgan Stanley, Nomura Securities, Societe Generale, and UBS. RealTick aggregates multiple brokers and their electronic products onto a single-screen format.

RealTick recently upgraded its category defining multi-asset class EMS with enhanced single stock and list trading functionality as well as more sophisticated options trading enhancements. New features include advanced benchmarking, industry sector management, dynamic navigation tools and advanced options spreads trading capabilities. These enhancements enable traders to customize their workflow and stay focused on achieving better trading performance across broker algorithms and liquidity pools in one click across asset classes.

About RealTick

RealTick, created by Townsend Analytics, is the electronic trading industry’s premier global, broker neutral, multi-asset Execution Management System (EMS). RealTick’s unsurpassed flexibility and customizability streamlines trader workflow by delivering a fully integrated front-to-back solution, including sophisticated trading tools; unrivaled access to leading global brokers, exchanges, ECNs and other pools of liquidity; real-time market data, news, analytics and risk management tools. Used by institutions, broker-dealers and traders worldwide, RealTick is supported by Townsend’s state-of-the-art global data centers and a redundant network for ultimate stability and resiliency.

For more information, visit www.realtick.com.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics

Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Barclays Bank PLC. For more information, visit www.townsendanalytics.com.

###

Media Contacts:

Townsend Analytics

Rustam Lam, Director

+44 (0) 20 7786 5091

rlam@realtick.com

RealTick 9.2 Now Available

Fri, 24 Jul 2009 16:46:00 GMT

Townsend Analytics is pleased to announce the release of RealTick 9.2, which can be downloaded by visiting our Downloads page. Subscribers can view the Release Notes Overview Page by clicking here.

RealTick 9.2 introduces significant new features for equity and derivative traders, including:

A “spreads view” - for commonly traded options strategies (e.g. butterfly, bull, bear, calendar spreads, etc.)
Customizable toolbars - configurable for specific trading workflow, brokers and accounts
List trading enhancements - providing enhanced execution performance monitoring across multiple benchmarks and lists
New order types - enabling greater order management

RealTick 9.2 builds upon Townsend Analytics’ ongoing commitment to being the preeminent provider of global, multi-broker, multi-prime, broker-neutral and multi-asset electronic trading solutions. By providing our clients with access to the latest trading technology backed by Townsend’s own highly resilient and redundant global infrastructure for orders and market data, we continue to raise the bar with each subsequent release and empower traders to seek better execution capabilities.

If you have any questions regarding the new RealTick 9.2 functionality, please contact your account manager or subscriber services at subscriberservices@realtick.com. Our Subscriber Services specialists are available to discuss any questions that you may have.

Thank you for your continued support.

Trade-Ideas July Free Trial

Wed, 01 Jul 2009 16:17:51 GMT

RealTick is happy to announce a partnership with Trade-Ideas, a leading stock scanning service which helps traders discover and verify trading patterns in real-time, using a wide variety of customized parameters and historical data.

At Trade-Ideas, we help you discover and verify trading patterns, using your parameters and our historic data. In real time. It's Like having 1,000 eyes on the market.

Click here for information on the Trade-Ideas FREE Trial.

RealTick Matters Newsletter - June Edition

Thu, 25 Jun 2009 16:03:04 GMT

Click here to view the June 2009 edition of the RealTick Matters Newsletter.

RealTick Matters Newsletter - March Edition

Fri, 13 Mar 2009 23:51:30 GMT

We are pleased to announce the the first-ever edition of our new bi-monthly Newsletter, RealTick Matters.

Click here to view RealTick Matters for March 2009

RealTick 9.1 SP1 Now Available

Fri, 13 Mar 2009 23:50:41 GMT

Townsend Analytics is pleased to announce the release of RealTick 9.1 SP1, which can be downloaded by visiting our Downloads page. Subscribers can view the Release Notes Overview Page by clicking here.

RealTick 9.1 SP1 introduces a wide variety of feature and functionality enhancements which build upon Townsend Analytics’ commitment to being the preeminent provider of global, multi-broker, multi-prime, broker-neutral and multi-asset electronic trading solutions. By providing our customers with access to the latest trading technology backed by Townsend’s own highly resilient and redundant global infrastructure for orders and market data, we continue to raise the bar with each subsequent release.

If you have any questions regarding the new RealTick 9.1 SP1 functionality, please contact your account manager or subscriber services at subscriberservices@taltrade.com. Our Subscriber Services specialists are available to discuss any questions that you may have.

Thank you for your continued support.

RealTick 9.1 Now Available

Thu, 18 Dec 2008 15:29:20 GMT

Townsend Analytics is pleased to announce the release of RealTick 9.1, which can be downloaded by visiting our Downloads page. Subscribers can view the Release Notes by clicking here.

RealTick 9.1 introduces a wide variety of feature and functionality enhancements which build upon Townsend Analytics’ commitment to being the preeminent provider of global, multi-broker, cross-asset electronic trading solutions. By providing our customers with access to the latest trading technology backed by Townsend’s own highly resilient and redundant global infrastructure for orders and market data, we continue to raise the bar with each subsequent release.

Click here to view the full press release.

If you have any questions regarding the new RealTick 9.1 functionality, please contact your account manager or subscriber services at subscriberservices@taltrade.com. Our Subscriber Services specialists are available to discuss any questions that you may have.

Thank you for your continued support of Townsend Analytics.

Townsend Analytics Integrates with NYSE MatchPoint Dark Block Trading Facility

Tue, 03 Jun 2008 22:14:02 GMT

Townsend Analytics Integrates with NYSE MatchPoint Dark Block Trading Facility

Users of Townsend’s RealTick execution management system (EMS) can access world’s first portfolio-based, point-in-time electronic exchange facility for leak-proof block trading

Chicago, IL, June 2, 2008— Townsend Analytics (www.townsendanalytics.com), a leading provider of global multi-broker, cross-asset electronic trading solutions, is adding the NYSE MatchPoint network to its extensive choice of destination offerings through Townsend’s RealTick® EMS.

The direct connection enables RealTick’s buy- and sell-side clients to match block and portfolio-based orders anonymously with one of the world’s largest liquidity pools. Traders can execute single block trades or buy and sell within a basket and look for internal matches before that flow interacts with the rest of the liquidity pool.They can also specify minimum-share requirements for stocks and apply net cash constraints to portfolios to manage their risk.

As global markets become increasingly fragmented and visible liquidity shrinks, dark pools are gaining traction among institutions seeking anonymous block-trading opportunities with minimal market impact.According to analysts at the Tabb Group, order flow from crossing networks and dark venues now comprises 15%of buy-side trading flow--an annual rate increase of over 95% from 2004-2007.

A facility of the New York Stock Exchange (NYSE), NYSE MatchPoint is the world’s first centralized, exchange-neutral, non-displayed matching system that trades all securities listed on the major and regional stock exchanges in the U.S.It matches aggregated orders at predetermined sessions throughout regular and after hours of the Exchange.

“RealTick is one of the world’s leading broker-neutral trading platforms, so it’s a great fit for our exchange-neutral trading model,” notes James G. Ross, vice president, NYSE MatchPoint. “We expect RealTick’s considerable user base will contribute a substantial amount of volume--helping MatchPoint deliver our value proposition of deep block liquidity with minimal market impact.”

“Many of our clients are finding it increasingly difficult to locate and quickly extract liquidity anonymously--especially when they are looking to match portfolios,” comments Stuart Breslow, CEO and CIO for Townsend Analytics. “By adding MatchPoint as a direct destination, we’re giving them an excellent opportunity to match and to use RealTick’s superior order execution capabilities to control the trade,” he adds.

Townsend’s RealTick EMS aggregates multiple brokers, destinations and products onto a single-screen format for ease of use and faster electronic order routing.Clients include institutional and proprietary trading desks, hedge funds, CTAs, FCMs, buy-side institutions and professional traders in 94 countries and territories around the world.

About RealTick

RealTick, created by Townsend Analytics, is the electronic trading industry’s premier multi-asset, multi-broker, and multi-route direct-access trading platform. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to brokers, exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick’s advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information, visit www.realtick.com.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics

Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services.Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers.For more information, visit www.taltrade.com.

About NYSE MatchPoint

NYSE MatchPoint is a portfolio-based, point-in-time electronic exchange facility that matches aggregated orders at predetermined times with no market impact. NYSE MatchPoint is designed to provide the optimal solution for portfolio and single order liquidity discovery by creating a centralized exchange-neutral matching environment. The matching facility is based on a sophisticated algorithmic model that will maximize the NYSE Euronext global infrastructure and liquidity relationships. Complete control of order information and execution remains in the hands of users.

Media Contacts:

Anne Aldrich

for Townsend Analytics

(312) 787-1642

annea1@covad.net

Todd Swearingen

Townsend Analytics

(312) 442-8656

tswearingen@taltrade.com

Scott Peterson

Managing Director, Communications

NYSE Regulation + NYSE Euronext

(212) 656-4089

SPeterson@nyx.com

Exchange data available to RealTick customers effective June 1, 2008.

Tue, 03 Jun 2008 22:13:30 GMT

June 1 New Content

Townsend Analytics is pleased to announce that the following exchange data will be available to RealTick customers effective June 1, 2008.

ICAP

Captured from more than USD 1.5 trillion in global daily trading activity by the world’s premier interdealer broker, ICAP’s unique market information is the original source of prices across a wide range of asset classes, time zones and instruments.

*Product*	*Region*	*Fee*
Foreign Exchange (FX Spot, Forwards only)	Global	£15
Non-Deliverable Forwards	Asia Pacific	£30
Non-Deliverable Forwards	Europe	£30
FX Currency Options	Global	£60
Money Markets	Asia Pacific	£13
Money Markets	Europe	£10
Money Markets	North America	$20
Interest Rate Options	Europe & North America	£55
Interest Rate Derivatives - IR Swaps & STIRs	Asia Pacific	£40
Interest Rate Derivatives - IR Swaps & STIRs (excl. CMS/CMT)	Europe	£30
Interest Rate Derivatives - IR Swaps & STIRs (excl. CMS/CMT) + IR Options	Europe	£33
Constant Maturity Swaps (CMS)	Europe & North America	£60
Inflation Derivatives	Europe	£50
Interest Rate Swaps & FRAs	North America	$80
Fixed Income - Government Debt Benchmarks (SG, HK)	Asia Pacific	£18
Fixed Income - Eurozone & Gilts - Government Debt	Europe	£15
Fixed Income - Eurobonds	Europe	£30
Mortgages	North America	$60
US Agencies	North America	$60
US Treasuries	North America	$120
Oil	Europe	£55
Electricity (UK and European - 5 min Delay)	Europe	£40
Gas (UK and European - 5 min Delay)	Europe	£40
Coal (UK - 30 min Delay)	Europe	£35
Power	North America	$60
Credit Default Swaps	Global	£50

TSX/CP Equities News

TSX Datalinx and The Canadian Press have joined forces to create TSX/CP Equities News™ - the bilingual news service delivering the most comprehensive coverage on Canadian capital markets. This source for real-time business news combines the market knowledge and experience of TSX with credible reporting from CP, Canada's only national news agency since 1917.

*Product*	*Fee*
TSX/CP Equities News	CA$50.00

Please note that the availability of data (real time and historical) varies per exchange for all exchange data offered by Townsend Analytics.

Subscriber Exchange Fee Modifications

Townsend Analytics professional and non-professional subscribers should please note the following exchange-mandated changes to Townsend Analytics’ subscriber exchange fees that will go into effect on July 1, 2008.

Exchange	Product	New Fee
Warsaw Stock Exchange	Level 1 (Professional)	€30.00
Warsaw Stock Exchange	Level 1 (Non-Professional)	€1.90

Questions

If you have any questions regarding this communication, please contact Trading Service at 1 (888) 533-8742 or +1 (312) 442-8971, Option 1; European Service at +44 (0) 207 786 5080; or, via email at tradingservice@taltrade.com.

Thank you for your continued support of Townsend Analytics.

Townsend Analytics Showcases RealTick EMS Enhancements at TradeTech Europe, April 22-25, 2008, Booth #31

Wed, 23 Apr 2008 11:27:27 GMT

Improved functionality for list trading, options and forex and new market data display top the list

London, UK, April 23, 2008—Townsend Analytics (www.townsendanalytics.com), a leading provider of global multi-broker, cross-asset electronic trading solutions, is demonstrating the latest round of enhancements to its RealTick® Execution Management System (EMS) at TradeTech Europe 2008, April 22-25, at the CNIT Centre in Paris, France.

Geared toward global institutional traders, the upgrades include:

MiFID compliance tools, including Time and Sales data reflecting all prints from all exchanges in the European market, and GBP/GBX Aggregated Trade Reports
New list trading functionality and order types
Expanded options capabilities
New forex (FX) functionality, trading tools, customizable data and display and streamlined workflow management
Bai Kai market data display

“With continued growth expected in electronic FX and options trading, Townsend is pleased to offer new as well as enhanced functionality and additional connectivity to leading FX brokers that help traders quickly capture opportunities and manage risk in these areas,” explains Thomas Kim, Managing Director, Global Head of Trading Services for Townsend Analytics.

“Clients increasingly want a multi-broker platform that provides access to all of the global markets and asset classes they trade seamlessly, and this fully integrated version of RealTick provides just that. And we’re committed to pushing the bar higher as traders continue to demand more and more out of their EMS,” Kim adds.

Townsend’s broker-neutral RealTick platform aggregates multiple brokers, destinations and products onto a single-screen format. All are accessible from customizable menus allowing for ease of use and fast electronic order routing.

Attendees of TradeTech can preview the latest version of RealTick at the Townsend Analytics Booth, #31. Billed as the 8th Institutional Trading & Technology Summit, TradeTech Europe takes place this year from April 22-25 at CNIT Centre, 2 Place de la Defense, Paris, France. For a complete conference program, visit http://www.wbresearch.com/TradeTechEurope

About RealTick®
RealTick, created by Townsend Analytics, is the electronic trading industry’s premier direct-access research and trading software. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick’s advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information, visit www.realtick.com.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics, Ltd. (TAL)
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. For more information, visit www.taltrade.com.

###

Media Contacts:
Anne Aldrich
for Townsend Analytics
(312) 787-1642
annea1@covad.net

Todd Swearingen
Townsend Analytics
(312) 442-8656
tswearingen@taltrade.com

Townsend Analytics Integrates with New NYFIX Euro Millennium™ Dark Pool

Tue, 22 Apr 2008 12:25:55 GMT

Users of Townsend’s RealTick execution management system (EMS) can directly route to pioneering dark pool for U.K. listed equities

London, UK, April 22, 2008— Townsend Analytics (www.townsendanalytics.com), a leading provider of global multi-broker, cross-asset electronic trading solutions, is adding the recently launched, broker-neutral Euro Millennium dark pool from NYFIX to its extensive choice of destination offerings through Townsend’s RealTick® EMS.

Read the full press release here.

Townsend Analytics Integrates UBS Asian & Canadian Equity Algorithms And Routing Into RealTick Execution Management System (EMS)

Tue, 08 Apr 2008 15:20:17 GMT

RealTick users gain point-click access to UBS execution services through simple pull-down menu

Chicago, IL, April 8, 2008—Townsend Analytics (www.townsendanalytics.com), a leading provider of global multi-broker, cross-asset electronic trading solutions, has integrated algorithms and advanced execution services for Asia and Canada from UBS Investment Bank into Townsend’s flagship Execution Management System (EMS), RealTick®.

Read the full press release here.

RealTick 9.0 Now Available

Thu, 03 Apr 2008 23:41:24 GMT

4/3/2008 - Townsend Analytics is pleased to announce the latest release of RealTick®, which can be downloaded by visiting the RealTick® website: www.realtick.com .

Geared toward global institutional traders, RealTick 9.0 includes the following new features and functionality:

New forex (FX) functionality:
- Trading tools including spot, swap and forward order types.
- Customizable data and display including news and charts.
- Streamlined workflow management.
New list trading functionality and order types
- Leverage enhancements to quickly create tickets and close-out open positions.
- List trading now includes Stop, Trailing Stop and Peg orders.
MiFID compliance tools, including:
- Time and Sales data reflecting all prints from all exchanges in the European market.
- Aggregated Trade Reports.
Expanded options capabilities:
- Top of book size aggregation.
- Volatility –based order triggers.
Asian Market Data:
- Bai Kai market data display.

New Content Features

ICAP data now available.

If you have any questions regarding the new RealTick 9.0 functionality, please contact your account manager or subscriber services at subscriberservices@taltrade.com. Our Subscriber Services specialists are available to discuss any questions that you may have.

Thank you for your continued support of Townsend Analytics.

Townsend Analytics Offers Preview of RealTick® EMS Enhancements at TradeTech USA, March 3-5, 2008, Booth #35

Tue, 04 Mar 2008 14:27:37 GMT

Improved functionality for list trading, options and forex and new market data display top the list

Chicago, IL, March 4, 2008— Townsend Analytics (www.townsendanalytics.com), a leading provider of global multi-broker, cross-asset electronic trading solutions, will demonstrate the latest round of enhancements to its RealTick Execution Management System (EMS) at TradeTech USA, March 3-5, at the Metropolitan Pavilion in New York City.

Read the full press release here.

Townsend Analytics Integrates Credit Suisse’s AES® Equity Options Algorithms And Routing Into RealTick® Execution Management System (EMS)

Tue, 19 Feb 2008 15:33:32 GMT

Chicago, IL, February 19, 2008—Credit Suisse Advanced Execution Services (AES®) and Townsend Analytics (www.taltrade.com) have agreed to offer the investment bank’s new suite of algorithmic trading tactics for U.S. listed options through Townsend’s flagship EMS, RealTick®.

Read the full press release here.

SEB Enskilda Equities Joins Townsend Analytics’ Global Multi-Broker Network

Sat, 02 Feb 2008 13:37:20 GMT

Direct market access to Nordic equities markets and specialist execution now available through Townsend’s RealTick execution management system (EMS)

Chicago, IL, January 31, 2008—Townsend Analytics (www.townsendanalytics.com), a leading provider of multi-broker, multi-asset, multi-region, and multi-route electronic trading solutions for the global capital markets, has added Nordic investment bank SEB (Skandinaviska Enskilda Banken) to its international multi-broker network.

Read the full press release here.

Townsend Analytics Activates Linkage to On Point’s STING Smart-Routing Technology

Mon, 07 Jan 2008 17:53:50 GMT

STING sweeps US equity options exchanges simultaneously for best execution

CHICAGO, Jan. 7, 2008—Townsend Analytics, a leading provider of multi-broker, multi-asset, multi-region, and multi-route electronic trading solutions for the global capital markets, has added agency broker On Point Executions’ new STING smart-routing solution as a destination for best execution in US equity options markets.

Read the full press release here.

BNP Paribas Joins Townsend Analytics’ Global Multi-Broker Network

Wed, 07 Nov 2007 15:50:44 GMT

Direct market access to Pan-European equities markets now available through Townsend’s RealTick EMS

Chicago, IL, and London, UK, November 7, 2007—Townsend Analytics (www.townsendanalytics.com), a leading provider of multi-broker, multi-asset, multi-region, and multi-route electronic trading solutions for the global capital markets, has added international banking leader BNP Paribas to its global multi-broker network.

Clients of both firms are now able to route European equities orders to BNP Paribas for execution through Townsend’s RealTick® (www.realtick.com) execution management system (EMS).

Read the full press release here.

RealTick 8.8 Now Available

Wed, 31 Oct 2007 20:54:56 GMT

10/31/2007 - RealTick 8.8 includes extensive features and functionality enhancements. Townsend Analytics is pleased to announce the latest release of RealTick® which can be downloaded at www.realtick.com/realtick88

RealTick 8.8 includes the following new features and functionality:

Enhanced Multi-Broker Functionality
New Block Order trading "Super Ticket"
Enhanced Order Alerts
Ability to designate Selling Method on Allocations
New Listed Bonds Order Form

And many more, please refer to the RealTick 8.8 Release Notes for more detailed information and screenshots.

If you have any questions regarding the new RealTick 8.8 functionality, please contact your account manager or subscriber services at subscriberservices@taltrade.com. Our Subscriber Services specialists are available to discuss any questions that you may have.

Thank you for your continued support of Townsend Analytics.

Townsend Analytics to Offer Instinet's Direct Market Access and Algorithmic Trading Services via RealTick® EMS

Thu, 04 Oct 2007 16:12:57 GMT

RealTick users to benefit from Instinet's direct access to liquidity and suite of global trading strategies

Chicago, IL and Boca Raton, FL, October 4, 2007—Townsend Analytics today announced at the Security Traders Association 74th Annual Conference in Boca Raton (Booth #47) that users of its RealTick ®Execution Management System (www.realtick.com) are now able to access alternative trading systems (ATS), global direct market access (DMA), algorithmic trading and agency sales trading services from Instinet, a global agency broker and wholly-owned subsidiary of Nomura Holdings, Inc.

Read the full press release here.

Thomas Weisel Partners Offers Equity and Algorithmic Trading via Townsend Analytics’ RealTick EMS

Mon, 24 Sep 2007 17:27:21 GMT

Chicago, IL, September 18, 2007— Thomas Weisel Partners and Townsend Analytics (www.townsendanalytics.com) have agreed to supply clients with access to Weisel Execution Services (WES), the investment bank’s proprietary algorithms and equities execution services through Townsend Analytics’ flagship Execution Management System (EMS), RealTick®.

Read the full press release here.

Exchange Data Available to RealTick® Users Effective September 1st

Tue, 04 Sep 2007 18:28:03 GMT

Townsend Analytics is pleased to announce that the following exchange data will be available to RealTick customers effective September 1, 2007.

Bombay Stock Exchange (BOM):

Exchange Fee: BOM Level I+ Indices – Professional / Non- Professional: $12.00 USD per month.

Please note that the availability of data (real time and historical) varies per exchange for all exchange data offered by Townsend Analytics.

For more information regarding any of the above exchange data offerings or any other data offered by Townsend Analytics, please contact your account manager or subscriber services at subscriberservices@taltrade.com . Our Subscriber Services specialists are available to discuss any questions that you may have.

OCC "New Method" Compliance

Tue, 04 Sep 2007 18:25:42 GMT

Effective immediately, Townsend Analytics’ RealTick EMS is in full compliance with the September 4, 2007 deadline that has been set by the Options Clearing Corporation (OCC) regarding the New Method options contract adjustment change to eliminate rounding during the execution of stock splits and distributions.

The basic features of all adjustments under the New Method are:

Strike prices remain unchanged.
The additional shares are added to the contract deliverable.
The adjusted option continues to use 100 as the multiplier to extend premium and strike amounts.
The number of contracts remains the same.

With the exception of 2 for 1 and 4 for 1 stock splits, all contract adjustments in response to splits or stock distributions will be done using the “New Method”. Users should please note that they need to be running RealTick Version 8.7 SP2 to support these changes.

Contact the OCC
For general questions regarding these contract adjustment changes, call 1-888-OPTIONS or email options@theocc.com.

Townsend Analytics’ RealTick EMS Achieves Highest Customer Satisfaction Rating for Analytics in Kimsey Consulting Trading Technology Study

Tue, 04 Sep 2007 18:24:51 GMT

Chicago, IL, August 16, 2007—Townsend Analytics (www.townsendanalytics.com) has achieved the highest customer satisfaction rating for trading analytics available on its RealTick® EMS (www.realtick.com), according to the annual Kimsey Consulting US Tri-State Trading Technology Study.

Read the full press release here.

Read more about Kimsey Consulting's 2007 US Tri-State Trading Technology Study. Click here. View the press release in PDF format.

Bulltick Capital Markets L.P. Now Live with Market Access to Bolsa Mexicana de Valores* via Townsend Analytics’ RealTick® EMS

Wed, 01 Aug 2007 19:49:03 GMT

New connectivity to Mexican Stock Exchange allows for trading of Latin American equities

Chicago, IL, August 1, 2007— Bulltick Capital Markets L.P. (http://www.Bulltick.com) and Townsend Analytics (www.townsendanalytics.com), a leading provider of multi-broker, multi-asset, multi-region, and multi-route electronic trading solutions for the global capital markets, today announced the successful launch of their trading linkage to the Bolsa Mexicana de Valores (BMV).

This new connectivity enables clients to electronically route trades to the Mexican Stock Exchange for execution on the exchange. The route will support day, limit and market orders.

“Given Bulltick’s strong presence in the Latin American region coupled with the robust trading capabilities of the RealTick platform, we are excited to provide our clients with access to a key market in the region,” states Bulltick spokesperson Luis Alberto Guerra. “This trading link gives our clients the exchange liquidity they need to trade effectively,” he adds.

“We are pleased to expand upon our long-standing electronic trading relationship with Bulltick in Latin America,” states Jeff Wecker, Chief Executive Officer for Townsend Analytics. “Our connectivity to exchanges such as the Bolsa Mexicana de Valores represents our ongoing strategy to work with broker dealer partners to deliver global connectivity and additional destinations via the RealTick EMS,” he adds.

About RealTick®
RealTick, created by Townsend Analytics, is the electronic trading industry’s premier direct-access research and trading software. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick’s advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information, visit www.realtick.com.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first allelectronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. For more information, visit www.taltrade.com.

About Bulltick Capital Markets L.P.
The firm offers diversified financial products with local know-how and international expertise. This offering is made possible by the firm’s strong local presence in the region, its clearing agreements, and its global relationships. Bulltick Capital Markets’ client-base is comprised of the main financial institutions and qualified investors in Latin America as well as of the international financial community with investment interests in the region. For more information, visit http://www.Bulltick.com/index.php Bulltick Capital Markets, through its agency broker dealer Bulltick LLC, is registered with the NASD, SIPC, SEC and NFA.

*Bulltick Capital Markets L.P. is not authorized to conduct brokerage services in Mexico. Trading linkages to the Bolsa Mexicana de Valores and trades execution are provided through Bulltick’s local market commercial partners which are authorized to act as broker-dealers in Mexico.

###

Media Contacts:
Anne Aldrich
for Townsend Analytics
(312) 787-1642
annea1@covad.net

Todd Swearingen
Townsend Analytics
(312) 442-8656
tswearingen@taltrade.com

Luis Alberto Guerra
Bulltick Capital Markets
(305) 533-1541
laguerra@Bulltick.com

Townsend Analytics’ RealTick® EMS Announces Preferred Partner Agreement with BNY ConvergEx Group

Thu, 12 Jul 2007 20:19:55 GMT

Premier agency broker is latest addition to RealTick’s global multi-broker network

Chicago, IL, July 12, 2007—Townsend Analytics (www.townsendanalytics.com), a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets has been selected as a preferred distribution partner by BNY ConvergEx Group.

Under the terms of the agreement, the firms have agreed to supply clients with direct access to ConvergEx’s advanced suite of liquidity management technologies, which were designed to provide clients with the tools they need to help manage liquidity and better leverage opportunities in today’s constantly evolving marketplace. The ConvergEx product offering includes a set of global performance enhancing algorithms, a comprehensive set of advanced DMA order types, the VortEx^SM dark liquidity pool, and Perform-Ex^SM, a recently launched transaction cost analysis platform.

Using RealTick’s sophisticated order types and routing functionality, clients of both firms will be able to send orders for global cash equities and equity options directly to ConvergEx’s global agency trading desk for execution.

“We’re excited to partner with RealTick and be in a position to leverage Townsend’s connectivity with the global institutional buy-side trading community,” stated Carey S. Pack, President, BNY ConvergEx Execution Solutions. “Adding ConvergEx’s suite of liquidity management technologies to the RealTick EMS will extend the reach of our product distribution capabilities and provide our clients with more execution alternatives.”

“We are pleased to have BNY ConvergEx on board as a welcome addition to our global multi-broker network,” comments Jeff Wecker, Chief Executive Officer of Townsend Analytics. “Their reputation as a leading global agency broker is well known and respected. Direct access to ConvergEx’s execution services via our suite of trading products is consistent with Townsend’s goal to provide connectivity to major executing broker dealers from a single trading environment,” Wecker adds.

The new connectivity with RealTick allows ConvergEx to accept multi-broker order flow from Townsend Analytics’ institutional client base in 94 countries and territories around the world.

About RealTick®
RealTick, created by Townsend Analytics, is the electronic trading industry’s premier multi-asset, multi-broker, and multi-route direct-access trading platform. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to brokers, exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick’s advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information, visit www.realtick.com.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers (NYSE: LEH). For more information, visit www.taltrade.com.

About BNY ConvergEx
BNY ConvergEx Group, LLC provides premier institutional agency brokerage and investment technology solutions designed to deliver a comprehensive, integrated approach to the investment cycle, from idea generation and trade execution to clearance and settlement. The Company offers a broadly diversified suite of services providing innovative solutions in liquidity and execution management, investment technologies, transition management, research and commission management, and intermediary and clearing services. BNY ConvergEx Group is comprised of the following businesses: BNY ConvergEx Execution Solutions LLC (member NYSE/NASD/SIPC), including BNY Global Transition Management and LJR Recapture Services; LiquidPoint, LLC (member CBOE/SIPC); BNY Jaywalk LLC; ConvergEx Global Markets Ltd.; Eze Castle Software LLC; Eze Castle Transaction Services LLC and Westminster Research Associates LLC (members NASD/SIPC). BNY ConvergEx Group is an affiliate of The Bank of New York Mellon Corporation. (NYSE: BK). Additional information is available at www.bnyconvergex.com.

# # #

U.S. Media Contacts:
Anne Aldrich
for Townsend Analytics
(312) 787-1642
annea1@covad.net

Todd Swearingen
Townsend Analytics
(312) 442-8656
tswearingen@taltrade.com

Patrick Phalon
Head of Media Relations
BNY ConvergEx Group
212.468.7713
PPhalon@bnyconvergex.com

HSBC Joins Townsend Analytics’ Global Multi-Broker Network

Thu, 28 Jun 2007 21:35:46 GMT

HSBC gains sponsored institutional order flow from both firms’ international clients

Chicago, IL, and London, UK, June 28, 2007—Townsend Analytics (www.townsendanalytics.com), a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets, has added HSBC to its global multi-broker network.

Clients of both HSBC and Townsend are now able to route order flow directly to HSBC’s Block, Program & Direct Market Access (DMA) trading desks in 25 countries, which provide client access to over 130 cash and derivative exchanges globally, with a strong focus on Asian, European, Middle East and other Emerging markets.

Kevin Bourne, Global Head of Execution Trading for HSBC, comments that “We are pleased to be part of the Townsend Analytics network. Townsend’s full-featured RealTick EMS also provides the ability to send managed orders to HSBC’s sales trading desk for more efficient routing.”

“We are proud that such a leader in electronic trading as HSBC has joined our global connectivity network,” comments Michel Finzi, Global head of sales, account management and marketing for Townsend Analytics. “This further delivers on our mission to provide our clients with an ever-growing range of markets and asset classes, and a greater choice of execution venues throughout the world.”

As part of the integration, Townsend has also certified order flow with HSBC to their internal OMS via FIX, providing for seamless reporting of trade executions. The new multi-broker link with HSBC supports multiple order types, including market orders, limit orders, cancels, cancel/replace, unsolicited cancels, trade busts, and Good-til-Cancels (GTCs).

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers. For more information, visit www.taltrade.com.

About HSBC
HSBC Corporate, Investment Banking and Markets (CIBM) provides tailored financial products and services to major government, corporate and institutional clients. Within client-focused business lines, Global Banking and Global Markets, CIBM offers a full range of capabilities, including foreign exchange, fixed income, equities, derivatives, risk advisory, corporate and investment banking, equity sales and trading, and equity and debt capital markets. For more information on CIBM, please visit www.hsbcnet.com.

HSBC Holdings plc HSBC Holdings plc serves over 125 million customers worldwide through some 10,000 offices in 82 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of USD 1,861 billion at 31 December 2006, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.

# # #

Media Contacts:
Anne Aldrich
for Townsend Analytics
(312) 787-1642
annea1@covad.net

Todd Swearingen
Townsend Analytics
(312) 442-8656 tswearingen@taltrade.com

HSBC Media Contact:
Charles Clarke
Corporate Communications Manager
Tel: 020 7991 3878
charles.w.clarke@hsbcib.com

New Brand Identity for Townsend Analytics Symbolizes Firm's Evolution to Premier Provider of Real-Time Financial Services to Capital Markets

Wed, 20 Jun 2007 02:54:20 GMT

Logo, tagline herald significant expansion in products/services and accelerating global growth

CHICAGO, IL, June 19, 2007 -- Townsend Analytics (http://www.townsendanalytics.com) today unveiled its new corporate identity symbolizing the company's evolution to a leading provider of multi-broker, multi-asset, multi-route and multi-region electronic trading solutions for the electronic capital markets.

Townsend long has been known for its flagship product, the RealTick® (http://www.realtick.com) data, analytics and electronic trade Execution Management System (EMS). But over the past 16 months, Townsend has accelerated its investment in technology, IT infrastructure and staff to position the firm as a dominant player in trading, content, exchange and risk management solutions. Its fully integrated, broker-neutral solutions are now in high demand from buy- and sell-side firms, as well as from exchanges, ECNs, corporations, and other market participants worldwide.

Townsend's new logo -- and a similar logo for RealTick -- reflect the company's expansion and forward growth with bold imagery and colors. Along with the tagline, "Without Boundaries," they convey the flexibility, scalability and technological superiority of the firm's offerings.

Under the leadership of CEO Jeffrey Wecker since early 2006, Townsend has become a partner of choice for brokers, institutions and hedge funds. Major highlights include:

Expansion of RealTick's global multibroker network to include execution services and algorithms from such leading firms as Barclays Capital, Credit Suisse, Jefferies & Company, Man Financial, National Financial and Winterflood Securities.
Enhanced quote data and trading infrastructure to provide lowest latency and highest capacity available today.
Expanded and deployed new data centers in Chicago, New York, Frankfurt, and Milan.
Increased staff by 70% with emphasis on Client Service and Operations to provide highest levels of quality and service in the industry.
Enhanced functionality of multi-asset trading and risk management for equities, futures, options, fixed income and forex.
Developed over 300 enhancements to RealTick including real-time cross- asset portfolio margining, order management system (OMS) integration, spread management.
Deployed new global exchange routes and data for North America, Europe (including Eastern Europe), Asia, Latin America and Australia.
Integrated numerous new liquidity destinations, including ECNs, ATSs, dark pools and crossing networks.
Rapid integration and customization of broker analytic content, new asset classes, and execution services into the RealTick EMS.
Built and deployed advanced ASP-hosted Alternative Trading Systems (ATSs) for global financial institutions.
Expanded third-party news and other content offerings into RealTick. Achieved large scale deployments of RealTick data terminals for clients in financial services and energy industries.

Townsend chose to launch its new corporate identity at one of the industry's leading events: The Securities Industry and Financial Markets Association (SIFMA) 27th annual Technology Management Conference in New York, June 19-21, 2007.

About RealTick
RealTick, created by Townsend Analytics, is the electronic trading industry's premier multi-asset, multi-broker, and multi-route direct-access trading platform. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to brokers, exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick's advanced technical design is supported by state-of-the- art data centers and a redundant network for market data and orders. For more information, visit http://www.realtick.com.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation's first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm's four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers (ticker symbol: LEH). For more information, visit http://www.townsendanalytics.com.

# # #

U.S. Media Contacts:
Anne Aldrich for Townsend Analytics
(312) 787-1642, annea1@covad.net

Todd Swearingen for Townsend Analytics
(312) 442-8656, tswearingen@taltrade.com

Asia Pacific Exchange Data Available to RealTick® Users

Fri, 01 Jun 2007 22:02:01 GMT

Townsend Analytics is pleased to announce the following exchange data will be available to RealTick customers effective June 1, 2007.

Hong Kong Stock Exchange (HKEX): With a total market capitalization of over US$1.87 trillion as of May 2007, the Hong Kong Stock Exchange ranks seventh in the world by market capitalization of listed companies.
Exchange Fee: HKEX Level 1 - HK$120.00 per month / HKEX Level 1 & Level 2 - HK$ 200.00 per month.

Hong Kong Futures Exchange (HKFE): Established in 1976, the Hong Kong Futures Exchange (H.K.F.E.) operates futures and options markets in index, stock, interest rate, and foreign exchange products. On March 6, 2000 it merged with the Stock Exchange of Hong Kong.
Exchange Fee: HKFE Level 1 - HK$ 25.00 per month / HKFE Level 1 & Level 2 - HK$ 75.00 per month.

JASDAQ Securities Exchange (JAS): The JASDAQ Securities Exchange is headquartered in Tokyo, Japan. JASDAQ is Japan’s largest Initial-Public offering “venture” market for growing and start-up companies in terms of number of listed companies, total market value and turnover.
Exchange Fee: JPY – Professional: ¥400.00 per month / JPY - Non-professional: ¥50.00.

Singapore (SGX): is Asia-Pacific's first de-mutualised and integrated securities and derivatives exchange.
Exchange Fee: SGX Equities Level I only– Professional: 3.00 (SGD) / Non-Professional: 3.00 (SGD). SGX Derivatives Level I only– Professional: 42.00 (SGD) / Non-Professional: 3.00 (SGD)

If you are interested in learning more please contact your account manager or subscriber services at subscriberservices@taltrade.com. Our Subscriber Services specialists are available to discuss any questions that you may have. Or visit the RealTick website at: http://www.realtick.com/

Zacks Investment Research Chooses RealTick®

Mon, 21 May 2007 18:42:17 GMT

Chicago, May 21, 2007—Townsend Analytics (www.townsendanalytics.com), a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets, has been selected by Zacks Investment Research to provide buy-side clients with real-time market data, news and analytics from Townsend’s RealTick EMS (www.realtick.com).

Read the full press release here.

Townsend Analytics Goes Live with Expanded Connection to ISE

Wed, 02 May 2007 15:20:14 GMT

RealTick® users now have access to ISE’s Stock Exchange MidPoint Match™

Chicago, May 2, 2007—Townsend Analytics (www.townsendanalytics.com), a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets, today announced the successful expansion and activation of its direct market access (DMA) connection with the ISE Stock Exchange.

RealTick’s institutional buy-side clients and investors around the world now have direct access to the enhanced functionality and trading flexibility offered by the ISE Stock Exchange. ISE’s equity trading platform combines a fully displayed stock market with its MidPoint Match™ liquidity pool for trading equities anonymously at the midpoint price of the National Best Bid and Offer (NBBO).

Through its order types, the ISE Stock Exchange provides an innovative way to integrate dark and displayed pools of liquidity to maximize execution quality. RealTick clients will be able to submit both standard MidPoint Match orders and also Displayed Market orders to the ISE Stock Exchange through RealTick’s DMA interface.

Andrew Brenner, head of the ISE Stock Exchange, stated, “As the ISE Stock Exchange continues to expand, we are excited to partner with Townsend Analytics to provide their clients with access to our Exchange. RealTick users will have access to a variety of ISE Stock Exchange order types that will enable them to benefit from the interaction between our non-displayed and displayed liquidity pools and to have the opportunity for price improvement.”

“We are pleased to be in a position to expand upon our existing relationship with ISE. They are a recognized innovator in the exchange space,” comments Townsend Analytics CEO Jeff Wecker. “As the equity and derivative markets continue to undergo explosive volume and product growth, our expansion with ISE represents a natural progression for us and our multi-routing and multi-asset trading capabilities.”

Prior to the expansion, RealTick provided DMA access to ISE’s options exchange and currently supports the following ISE functionality and options order types: Day Orders, Good-Til-Cancel (GTC) and Stop Orders.

About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers (ticker symbol: LEH). For more information, visit www.taltrade.com.

Contacts:
Todd Swearingen
Townsend Analytics
(312) 442-8656
tswearingen@taltrade.com

Anne Aldrich for Townsend Analytics
(312) 787-1642
ABM1@covad.net

Direct Access to NYSE Bonds Now Live on RealTick®

Mon, 23 Apr 2007 16:57:06 GMT

Townsend Analytics is pleased to announce that RealTick users now have direct access- and a single point of entry to NYSE Group’s new fixed-income trading platform, NYSE Bonds^SM. Customers can now access a new level of transparency when trading fixed income, and take advantage of:

The RealTick “Cabinet” display to view all real-time fully Auto-executable Bids and Offers including Size & Cumulative size.
Using the RealTick “Blotter” to track live orders currently working in the marketplace.
See the last trade displayed.
3 continuous trading sessions for trading corporate bonds.
Orders matched on a strict price/time priority.
Advanced order types: limit and reserve.

If you are interested in learning more please contact your account manager. Or visit the RealTick website at: http://www.realtick.com/ .

RealTick 8.6 Now Available

Tue, 27 Mar 2007 22:34:59 GMT

Townsend Analytics is pleased to announce the latest release of RealTick®, which can be downloaded by visiting the RealTick® website: http://www.realtick.com.

RealTick 8.6 includes the following new features and functionality:

OMS System / Vendor integration
Redesign of Allocations Window
- Set trade parameters & manage your allocation templates.
Trade Manager
- Upload done-away trade lists.
New Trading Menu
- Quick access to orders, trade allocations and the order book.
Alarms and Alerts
- Trade Reporter confirms the submission of trade reports.
MarketMinder™
- TicketMinder™- Send “pegged” orders and monitor child orders within a TicketMinder window.
List Trading/Order Entry
- Configure / execute multiple orders at once.
TurboOptions®
- Enhanced TurboOptions setup screen.
- Redesign of the TurboOptions calculator.

New Content Features:

Access StreetAccount’s “Market Intelligence” from your RealTick web-favorite.
Pacific and Asian Market data now available through RealTick
- Australia Stock Exchange, Korea Stock Exchange, KOSDAQ, Osaka & Tokyo Stock Exchange.

If you have any questions regarding the new RealTick 8.6 functionality, please contact your account manager or subscriber services at subscriberservices@taltrade.com. Our Subscriber Services specialists are available to discuss any questions that you may have.

Townsend Analytics Expands Direct Access to German Markets

Wed, 07 Mar 2007 12:03:58 GMT

Baader also to benefit from Townsend’s rapidly growing multi-broker network

Chicago, IL, March 7, 2007—Townsend Analytics (www.townsendanalytics.com), a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets, has expanded its partnership with Baader Group to include direct market access (DMA) to the XONTRO warrants market in Germany and other global markets.

The Baader Group already offers electronic trading of German equities on XETRA through Townsend Analytics’ flagship Execution Management System (EMS), RealTick® (www.realtick.com). By joining Townsend’s multi-broker network, Baader expands its electronic execution capabilities to include foreign and domestic stocks, equity-based warrants, fixed income and derivative products, and major futures markets. Baader also will be able to offer access to regional German markets via the new XONTRO exchange order routing system through RealTick.

RealTick clients--which include hedge funds, institutional and proprietary trading desks, asset managers and professional traders--benefit from being able to electronically execute more than 79,500 exchange-listed products through one of the leading securities trading banks in Europe.

“Through RealTick, Baader Group can now offer our clients a single-platform solution for access to global exchanges as well as advanced trading functionality,” comments Edward Strauss, Head of Sales and ElectronicTrading for Baader. “And as we seek to broaden our electronic execution business, we know that Townsend Analytics can seamlessly add new exchanges, products and markets,” Strauss adds.

“We are excited to be in a position to expand upon our existing RealTick EMS offering to Baader Group," stated Townsend Analytics CEO Jeff Wecker. “This expansion is again proof of Townsend’s commitment to supporting the growth of our European client base and represents a natural progression in our global multi-broker and multi-routing capabilities.”

By choosing RealTick as the front end to its electronic execution services, Baader Group gains a flexible technology partner who can expand access to global markets and additional asset classes as desired. The agreement also allows Baader Group to accept multi-broker order flow from RealTick’s substantial client base in 94 countries and territories around the world.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers (ticker symbol: LEH). For more information, visit www.taltrade.com.

About Baader Wertpapierhandelsbank AG
With approximately 270 employees in the group, Baader Wertpapierhandelsbank AG is one of the leading securities trading banks in Europe. Since its beginnings as a specialist for foreign shares listed on German exchanges, the company has steadily expanded its business to encompass specialist activities for more than 120,000 exchange listed instruments, including foreign and domestic equities as well as warrants, certificates and fixed income products. In addition to classical stock market trading, Baader has an active agency trading desk where both full service brokerage and electronic market access is offered. For further information please visit: http://www.baaderbank.de

# # #

U.S. Media Contacts:
Mike Felix
Director of Marketing,
Townsend Analytics
(312) 442-8605, mfelix@taltrade.com

Anne Aldrich for Townsend Analytics
(312) 787-1642, ABM1@covad.net

Baader Media Contact:
Edward Strauss
Head of Sales and ElectronicTrading
+49 89 5150 1015, edward.strauss@baaderbank.de

Townsend Analytics to Deliver StreetAccount Market Intelligence to Clients

Tue, 06 Mar 2007 16:17:51 GMT

Chicago, IL, March 6, 2007—Townsend Analytics (www.townsendanalytics.com), a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets, will bring StreetAccount’s real-time market intelligence to users of its RealTick® execution management system (EMS).

Townsend’s institutional clients and investors around the world will be able to access StreetAccount’s online content--including portfolio and sector headlines, research, commentary, email alerts and filtering tools--from the RealTick EMS.

“By integrating StreetAccount access into RealTick, we’re able to provide our clients with a substantive source of independent and unbiased trading information straight from the same platform they trade with,” explains Larry Hansen, Global Head of Content Services for Townsend Analytics. “This will help RealTick users improve their workflow and react more quickly to critical market conditions,” he adds.

“We expect this agreement with Townsend Analytics will help us greatly broaden our exposure to the global marketplace,” states StreetAccount partner, Cynthia Dietzmann. “With tens of thousands of RealTick users around the world--including many of the major buy- and sell-side firms--we’re excited to be just a click away from an important audience,” she adds.

The RealTick EMS delivers a wide range of North American, European and Asian market data and trading capability across equity, futures, options, fixed income, and foreign exchange markets, unlimited depth of book, advanced research and analytical tools, risk and account management tools, as well as direct trading connectivity to major pools of liquidity such as exchanges, ECNs and broker-specific destinations.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers (ticker symbol: LEH). For more information, visit www.taltrade.com.

About StreetAccount
StreetAccount (www.streetaccount.com) is the leading provider of equity market intelligence to institutional investors, including mutual funds, hedge funds, and investment management firms. The company’s real-time commentary bridges a gap between news and analysis by providing a filtered, intelligent, and timely view of market news. Street Account is headquartered in Jackson, Wyoming and maintains offices in Atlanta, Boston, London, and Ridgewood, New Jersey.

Media Contacts:
Mike Felix
Director of Marketing, Townsend Analytics
(312) 442-8605, mfelix@taltrade.com

Anne Aldrich for Townsend Analytics
(312) 787-1642, annea1@covad.net

###

Asia Pacific Exchange Data Available to RealTick Users

Tue, 27 Feb 2007 23:04:08 GMT

Townsend Analytics is pleased to announce that the following Asia Pacific Exchange data is now available to RealTick content and data customers. Please note that certain RealTick and regional data fees may apply.

The following exchange data is available effective immediately:

The Osaka Stock Exchange SE (OSA): The Osaka Stock Exchange (OSE) is Japan’s second-largest market and an important marketplace for equity index options and futures contracts. The Osaka Securities Exchange’s strength is in derivative products and today OSE is the leading Derivatives Exchange in Japan. In July 2006 OSE launched their newest futures contract the Nikkei 225 mini.

Osaka Level I and Level II information.

Price: JPY - Professional: ¥1000.00 per month. JPY - Non-professional: ¥40.00

The Tokyo Stock Exchange SE (TYS): The Tokyo Stock Exchange is the second largest stock exchange market in the world by monetary volume located in Tokyo, Japan second only to the New York Stock Exchange. It currently lists 2,271 domestic companies and 31 foreign companies, with a total market capitalization of over 4 trillionUSD.

Price: JPY - Professional: ¥2000.00 per month. JPY - Non-professional: ¥110.00

The following exchange data is available effective March 1st:

Australian Securities Exchange (ASX): As one of the world’s top 10 listed exchange groups, measured by its market capitalization, ASX group was created through the merger of the Australian Stock Exchange and the Sydney Futures Exchange.

Price: ASX Level 1 & Level 2 Professional – AUD 45.00 / ASX Level 1 & Level 2 Non- Professional – AUD 37.50.

Korea Stock Exchange (KRX) (KOSPI Indices): KRX was created through the integration of the three existing Korean spot & futures exchanges (Korea Stock Exchange, Korea Futures Exchange & KOSDAQ) under the Korea Stock & Futures Exchange Act. KRX is the largest derivatives exchange in the world (by transactional volume).

Price: KRX Level 1 & Level 2 - USD $25.00

KOSDAQ: KOSDAQ was established in 1996. It is the electronic stock market division of Korea Exchange.

Price: KOSDAQ Level1 & Level 2 - USD $13.00

Thank you for your continued support of Townsend Analytics - Content and Data Services.

Jefferies to Use Townsend’s RealTick EMS to Enhance JETS Offering

Tue, 13 Feb 2007 17:12:43 GMT

Townsend Analytics today announced at the Security Traders Association of Chicago Mid-Winter meeting, a strategic alliance with Jefferies & Company, Inc., a leading investment bank and institutional securities firm, to offer Townsend’s RealTick® electronic trade Execution Management System (EMS) to Jefferies’ Electronic Trading, Algorithmic and Prime Brokerage customers.

Read the full press release here.

Townsend Analytics Goes Live with Latest Enhancements to RealTick®

Tue, 13 Feb 2007 17:11:48 GMT

Townsend Analytics, a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets, today announced the latest round of enhancements to its flagship Execution Management System (EMS) RealTick®.

Read the full press release here.

RealTick 8.5 is now available

Tue, 13 Feb 2007 17:11:06 GMT

Townsend Analytics is very pleased to announce the release of RealTick 8.5. Please click here to download RealTick 8.5 and access the list of new features.

Global Industry Classification Standard (GICS®) Now Available

Tue, 13 Feb 2007 17:10:06 GMT

Townsend Analytics is pleased to announce the release of Global Industry Classification Standard (GICS®) information and an immediate free trial until the end of January 2007 for all RealTick clients. RealTick Trading clients will automatically be enabled for the free trial. Market data clients can request the free trial by contacting Subscriber Services.

Global Industry Classification Standard (GICS®) is the global industry definition standard. GICS was developed by Standard & Poor’s (S&P) and Morgan Stanley Capital International (MSCI). The GICS structure consists of 10 sectors, 24 industry groups, 67 industries and 147 sub-industries and is designed to respond to the global financial community’s need for an accurate, complete and standard industry definition. Price- After January 31, 2007: $10.00 USD

To view GICS data in a MarketMinder within RealTick 8.5 please select: GICS Sector Code, GICS Industry Code and GICS Sub-Industry Code from the Column Selection Dialog.

In order to continue receiving GICS data after January 31, 2007 at a monthly subscriber rate of: $10.00 USD; clients must contact Townsend Analytics Subscriber Services at Email: subscriberservices@taltrade.com. You may also call: (800) 997.9630. Our Subscriber Services specialists are available to discuss any questions that you may have.

NYSE Hybrid Market(sm) Liquidity Replenishment Points (LRP) Data Available Through RealTick® 8.5

Tue, 13 Feb 2007 17:09:18 GMT

Townsend Analytics is pleased to announce that in addition to providing our customers with direct access to the NYSE’s Hybrid Market model, customers can now also access NYSE Liquidity Replenishment Points (LRP) Data through RealTick 8.5. The NYSE Liquidity Replenishment Points are a new NYSE information product providing important information related to the NYSE’s Hybrid Market initiative. The NYSE LRP data feed provides real-time messages regarding the pre-determined price points at which electronic trading briefly converts to auction market trading.

The NYSE LRP datafeed has been made available to all NYSE subscribers at no additional charge. RealTick subscribers can view the same LRP information in either the MarketMaker window or by adding LRP Bid, LRP Ask and LRP Time columns to the MarketMinder™ in RealTick 8.5.

Additional information on NYSE Hybrid and LRP data can also be found on the NYSE website at: http://www.nyse.com/.

New, Free, Online Course Added to RealTick Workshops

Mon, 18 Dec 2006 20:34:42 GMT

National Financial to Offer Townsend Analytics’ RealTick® Electronic Trade Execution Management System to Broker/Dealer Clients

Tue, 28 Nov 2006 17:14:20 GMT

Chicago, IL & Boston, MA, November 28, 2006 -- National Financial, a Fidelity Investments company (www.nationalfinancial.com), and Townsend Analytics (www.taltrade.com), today announced that they will offer Townsend’s RealTick® electronic trade execution management system (EMS) to National Financial’s approximately 350 broker/dealer clients. Integrated into National Financial’s brokerage platform, RealTick allows for the simultaneous trading of various order types across several marketplaces. RealTick also provides National Financial clients access to real-time market data, full depth of book quote display from major global liquidity sources, advanced content and analytical capabilities, and risk- and account-management functions.

“In today’s competitive market environment, it’s crucial that broker/dealers have access to the technology and information they need to help them create efficiency, manage risk and drive growth,” said Mark Healy, executive vice president and chief operating officer, National Financial. “The addition of Townsend’s RealTick EMS to our platform broadens our direct market access services and offers our clients the flexibility to choose the solution that meets their distinct needs.”

“We are extremely pleased that National Financial has chosen to offer RealTick to its customers, and we look forward to leveraging their broad distribution capabilities,” states Jeffrey Wecker, CEO of Townsend Analytics. “Working together with National Financial, we can offer their clients an integrated suite that delivers multi-asset, multi-currency, multi-route and multi-regional trading.”

About RealTick
>RealTick, created by Townsend Analytics, is the electronic trading industry’s premier multi-asset, multi-broker, and multi-route direct-access trading platform. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to brokers, exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick’s advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information, visit www.realtick.com.

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers (ticker symbol: LEH). For more information, visit www.taltrade.com.

About National Financial
National Financial, a Fidelity Investments company, offers Integrated Brokerage Solutions® to approximately 350 clients ranging from retail broker/dealers to institutional investment firms. Collectively, National Financial’s clients have more than 70,000 brokers. As of September 30, 2006, National Financial custodied over $614 billion in assets representing more than 5.3 million customer accounts. Integrated Brokerage Solutions incorporates innovative technology, products and programs, supported by dedicated client service professionals and trusted industry partners. This holistic, solutions-oriented approach is designed to help client firms attain competitive advantage by driving growth, creating efficiency and managing risk. For more information about National Financial and Integrated Brokerage Solutions, please visit www.nationalfinancial.com.

# # #

Townsend Analytics, Ltd. is an independent organization and is not affiliated with National Financial.

National Financial Services LLC. Member NYSE, SIPC

449255

Contacts:
Mike Felix
Townsend Analytics
(312) 442-8605
mfelix@taltrade.com

Anne Aldrich
for Townsend Analytics
(312) 787-1642
ABM1@covad.net

Fidelity Corporate Communications
(617) 563-5800

Townsend Analytics to Offer Electronic Trading of NYSE Corporate Bonds

Mon, 13 Nov 2006 15:48:52 GMT

Direct connection to new NYSE Bonds^SM trading platform provides investors and traders with unparalleled transparency and increased liquidity

Chicago, November 13, 2006—Retail and institutional investors and traders soon will be able to electronically trade fixed-income offerings from the New York Stock Exchange right along with stocks, options, and other asset classes.

The RealTick data, analytics and trading platform (www.realtick.com) from Townsend Analytics (www.taltrade.com), will provide users with a single point of entry to NYSE Group’s new fixed-income trading platform, NYSE BondsSM, as early as December, 2006 (pending SEC approval). Customers will enjoy a new level of transparency, as they’ll be able to obtain firm, real-time bids and offers in a given size, and see the last trade displayed. As with RealTick’s other global execution offerings, traders also can employ advanced order types such as limit and reserve orders to help manage risk.

Townsend’s longstanding history with the NYSE and Arca, and now with NYSE Group, Inc.–-both as a developer of matching technologies and provider of the RealTick platform to access exchange liquidity--enables it to seamlessly deploy the infrastructure and related services to support NYSE BondsSM trading. And as a multi-asset class trading solution, RealTick offers an immediate advantage for traders seeking hedging and arbitrage opportunities: simultaneous trading of equities, futures, options, fixed income and Forex across multiple venues globally using a single platform.

“By making our bonds available electronically through RealTick, we’re giving investors and traders seamless access to more opportunities in the markets,” states John Holman, Vice President, Fixed Income Markets, NYSE Group, Inc. “Now if you want to trade Ford bonds with Ford equity, you can--all right here in one place,” he adds.

“Certainly our long history of innovation and support with Arca and NYSE is one of the reasons why RealTick was chosen as a front-end for the NYSE BondsSM platform,” comments Townsend Analytics CEO Jeff Wecker. “But there’s also the fact that RealTick can easily accommodate additional asset classes, and ever-increasing trading volume, as the NYSE Group continues to grow into a global destination for multiple offerings,” Wecker adds.

About Townsend Analytics
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers (ticker symbol: LEH). For more information, visit www.taltrade.com.

About The NYSE Group
NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The NYSE is the world’s largest and most liquid cash equities exchange. The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies’ common stock and other securities. On June 30, 2006, our listed operating companies represent a total global market capitalization of over $ 22.6 trillion. In the second quarter 2006, on an average trading day, almost 1.8 billion shares, valued at over $68.5 billion, were traded on the NYSE.

NYSE Arca operates the first open, all-electronic stock exchange in the United States and has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca is also an exchange for trading equity options. NYSE Arca’s trading platform provides customers with fast electronic execution and open, direct and anonymous market access.

NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.

For more information on NYSE Group, go to: www.nyse.com. Information contained on our website does not constitute a part of the prospectus relating to the proposed offering.

U.S. Media Contacts:
Mike Felix
Director of Marketing, Townsend Analytics
(312) 442-8605, mfelix@taltrade.com

Anne Aldrich for Townsend Analytics
(312) 787-1642, ABM1@covad.net

# # #

AFX News Products

Wed, 08 Nov 2006 15:21:28 GMT

Townsend Analytics is pleased to announce that the following AFX news products will be available to RealTick content and data customers effective November 1st:

AFX International ProFeed: Provides real-time coverage of international economic, financial, corporate and general news with a general focus on Europe. The feed includes equity news reporting from the USA, Asia, Latin America and other international centers as well as relevant coverage of the derivative, fixed income, money, foreign exchange and commodities markets around the world. Language: English - Price: €79.00

AFX Equitynext ProFeed: Real-time coverage of news and information relevant to those shares listed and traded on the Euronext markets. Covers Euronext 100 and Next 150 companies. Language: English - Price: €69.00

AFX UK ProFeed: Provides fully comprehensive UK company and market news in real-time as well as extensive reporting on activities of the London Stock Exchange and relevant global market news and events. Language: English - Price: €69.00

dpa-AFX ProFeed: Provides fully comprehensive German company and market news in real-time as well as extensive reporting on activities of the Frankfurt Stock Exchange and coverage of relevant news from other markets around the world. Language: German - Price: €69.00

AFX FOREX ProFeed: Provides real- time coverage of international Forex markets. Language: English - Price: €29.00

AFX Asia data will be available for distribution across North America and Europe only. All other services are available globally. If you are interested in learning more or want to take advantage of a 30-Day Free Trial, please contact your account manager or subscriber services at subscriberservices@taltrade.com. Our Subscriber Services specialists are available to discuss any questions that you may have.

London Metals Exchange (LME) Data

Wed, 08 Nov 2006 15:18:09 GMT

Townsend Analytics is pleased to announce that the following London Metals Exchange (LME) data will be available to RealTick content and data customers effective November 1st:

London Metal Exchange [LME]: The LME is the world's premier non-ferrous metals market with highly liquid contracts and a worldwide reputation. The LME trades in eight metals, two plastics and one index comprising the six primary base metals. Popular contracts include: Copper, Aluminum, Lead, Nickel, and Polypropylene (PP). More information can be found at: http://www.lme.co.uk. Please consult the LME for specific trading hours.

Price: LME Level 1/Level 2 - Professional: £50.00- Non-professional: £50.00

Dow Jones Compact News

Wed, 08 Nov 2006 15:16:35 GMT

Townsend Analytics is pleased to announce that the following DOW JONES news products will be available to RealTick content and data customers effective November 1st:

DOW JONES COMPACT: represents the most important news from Germany, Europe and worldwide, delivering around 150 news items a day on companies, financial markets and economic data. Price: Professional: €69.00, Non-Professional: €39.00

DOW JONES GLOBAL: is the largest news service with around 500 news items a day and contains news on companies, financial markets and economic data worldwide. In addition subscribers get fixtures such as round ups, press overviews and daily and weekly calendars. Price: Professional: €99.00, Non-Professional: €49.00

DOW JONES TRADE: formerly known as NewsSpezial, reports in snippet style the views of traders and analysts about the share and market price movements as well as about market rumors. The service contains around 150 news items a day. Price: Professional: €99.00, Non-Professional: €49.00

DOW JONES GLOBAL + DOW JONES TRADE PACKAGE
Price: Professional: €149.00, Non-Professional: €79.00

If you are interested in learning more or want to take advantage of a 30-Day Free Trial, please contact your account manager or subscriber services at subscriberservices@taltrade.com. Our Subscriber Services specialists are available to discuss any questions that you may have.

Barclays Capital Selects Townsend Analytics’ RealTick

Tue, 08 Aug 2006 16:30:01 GMT

Chicago, USA and London, UK, August 7, 2006—Townsend Analytics is now providing the Equities Brokerage/Execution Services divisions of Barclays Capital with its RealTick multi-product market data, analytics, and direct-access trading platform.

The partnership allows Barclays Capital to offer its clients a single-platform solution for seamless access to global exchanges and advanced trading functionality. RealTick’s sophisticated order handling and decision-support tools provide unparalleled opportunities for executing even the most complex strategy.

“As a global, multi-broker platform, RealTick provides our clients with quick and efficient access to Barclays Capital’s U.S. and International equity execution services,” comments Kristian West, Head of European Equity Execution at Barclays Capital.
“Barclays Capital’s choice is affirmation of the advantages that RealTick brings to electronic trading in an increasingly global marketplace,” states Jeffrey Wecker, CEO of Townsend Analytics. “We look forward to helping them offer cost-efficient, yet high-performance, access to more asset classes and pools of liquidity in the future,” he adds.

About RealTick
RealTick, created by Townsend Analytics, is the electronic trading industry’s premier multi-asset, multi-broker, and multi-route direct-access trading platform. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to brokers, exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick’s advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information visit www.realtick.com.

About Townsend Analytics (TAL)
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. The firm’s four main lines of business include Trading Services, Content Services, Exchange Services, and Risk Management Services. Townsend Analytics, Ltd. is a wholly owned, independently-operated subsidiary of Lehman Brothers (ticker symbol: LEH). For more information, visit www.taltrade.com.

About Barclays Capital
Barclays Capital is the investment banking division of Barclays Bank PLC which has an AA long-term credit rating and a balance sheet of over £924 billion. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with solutions to their financing and risk management needs. Barclays Capital has offices in 26 countries, employs over 9,000 people and has the global reach and distribution power to meet the needs of issuers and investors worldwide.

In November 2005, Financial News magazine awarded Barclays Capital ‘European Investment Bank of the Year’ in its annual Awards for Excellence. In addition, Barclays Capital ranked No. 1 for Capital Raising in Euromoney’s 2005 Capital Raising Survey. For further information about Barclays Capital, please visit our website www.barclayscapital.com.

U.S. Media Contacts:
Mike Felix, Director of Marketing, Townsend Analytics, (312) 442-8605, mfelix@taltrade.com
Anne Aldrich for Townsend Analytics, (312) 787-1642, ABM1@covad.net

European Media Contacts:
Rustam Lam, Managing Director, TAL Europe, +44 (0) 20 7877 0091, rlam@taltrade.com

U.S. Sales Contact:
Jeff Brown, VP of Sales, Townsend Analytics, (212) 679-9000, jbrown@taltrade.com

European Sales Contact:
Rustam Lam, Managing Director, TAL Europe, +44 (0) 20 7877 0091, rlam@taltrade.com

# # #

System Upgrade

Fri, 23 Jun 2006 18:33:14 GMT

Townsend Analytics will be performing system upgrades in our Chicago data center on Friday, June 23 at 8:00pm CST through Saturday, June 24, 8:00pm CST. Some customers may experience difficulties accessing our systems during this time, we apologize for any inconvenience this may cause.

Townsend Analytics, Ltd. Now Provides Direct Market Access to the London Stock Exchange Through RealTick

Thu, 27 Apr 2006 21:15:34 GMT

Brokers, buy-side firms and institutional traders enjoy advanced execution management, complete anonymity and lower costs of London Stock Exchange market access through TAL’s service bureau.

CHICAGO and LONDON, April 24, 2006—Townsend Analytics (www.taltrade.com) and the London Stock Exchange (www.londonstockexchange.com) are now providing Exchange members with direct market access, and non-member brokers, institutional and proprietary traders with member-sponsored direct market access to the LSE via TAL’s RealTick® trading platform.

LSE offers trading in UK equities and global depositary receipts. TAL customers can see and trade from the full depth of book—with access to all executable bids and offers at every price level--for SETS, SETSmm and the International Order Book (IOB). The IOB is currently the world’s largest international electronic order book, capturing over US $10.8 billon worth of liquidity every month.

TAL’s turnkey service bureau solution effectively lowers the cost of access to the Exchange, as it hosts and maintains all trading and market data feed hardware and software plus Exchange connections. Traders benefit from fast market access, complete anonymity, and access to a complete suite of tools and services to mitigate risk and manage their trades, with minimum investment on their part. And by using RealTick, traders can easily employ a variety of advanced order types including conditional, iceberg and stops, as well as execute basket and algorithmic trades.

“This technical capability offers both the buy side and sell side more choice and independence when accessing the LSE markets and executing trades,” comments Rustam Lam, Managing Director for TAL Europe. “While service bureau users either have to be LSE members or sponsored by Exchange member-brokers, they can now execute trades either through their existing broker’s order management and routing system or through the TAL direct connection,” he explains.

“Furthermore, in the wake of ongoing regulatory requirements for unbundling and best execution, we expect demand for additional flexibility and choice within the market--especially from remote members, as well as brokers and institutions wanting to access the Exchange market without having to build and maintain a robust technical architecture themselves,” Lam adds.

David Lester, Chief Information Officer for the London Stock Exchange, states, “We are delighted to welcome Townsend Analytics as an accredited Vendor Access Network provider of trading connectivity to the Exchange. This agreement extends the scope of connectivity options for brokers and we look forward to working with Townsend Analytics to promote access to our markets,” he adds.

About RealTick®

RealTick, created by Townsend Analytics, is the electronic trading industry’s premier direct-access research and trading software. RealTick delivers real-time market data, news and analytics; sophisticated trading tools; unrivaled access to exchanges and ECNs; and risk management tools to institutions, broker-dealers and individual investors. RealTick’s advanced technical design is supported by state-of-the-art data centers and a redundant network for market data and orders. For more information, visit www.realtick.com.

*RealTick is a registered trademark of Townsend Analytics

European Sales and Media Contacts:

Rustam Lam

Managing Director, Townsend Analytics, Ltd. Europe

+44 (0) 20 7877 0091, rlam@taltrade.com

U.S. Sales Contact:

Jeff Brown

VP of Sales, Townsend Analytics, Ltd.

212-679-9000, jbrown@taltrade.com

U.S. Media Contacts:

Mike Felix

Director of Marketing, Townsend Analytics. Ltd.

312-442-8605, mfelix@taltrade.com

Anne Aldrich

for Townsend Analytics Ltd.

312-787-1642, ABM@covad.net

# # #

Holiday Hours

Wed, 12 Apr 2006 18:23:57 GMT

Holiday Hours For US and Europe

In observance of the Christmas Day holiday Townsend Analytics’ US and Europe support will be closed on Tuesday, December 25, 2007. Normal business hours will resume on Wednesday, December 26.

In observance of the New Year's Day holiday Townsend Analytics’ US and Europe support will be closed on Tuesday, January 1, 2008. Normal business hours will resume on Wednesday, January 2.

Holiday Hours for Asia

In observance of the New Year's Day holiday in Asia, Townsend Analytics’ Asia support will be closed on Tuesday, January 1, 2008 (JST). Normal business hours will resume on Wednesday, January 2, 2008 (JST).

Questions

If you have any questions regarding this communication, please contact Trading Service at 1-888-533-8742, European Service at +44 0207 786 5080, or via email at tradingservice@taltrade.com.

Townsend Analytics wishes you a happy and safe holiday season.

Enhanced Fundamental Data now Available to RealTick® Users

Fri, 24 Mar 2006 22:52:08 GMT

RealTick has upgraded its Fundamental Data Window which can be accessed by RealTick users via the Favorites>Web Browser>Fundamental Data Window. Changes include enhanced formatting and display of Income Statement (broken out by detail and summary), Balance Sheet, Cash Flow, and Financial Ratios.

Users also now have the ability to view a three year comparison for each report, search by symbol, and access the data more quickly through new navigation. Fundamental data can now be saved in .CSV file format, for easy transfer to Microsoft Excel and a wide variety of other table-oriented applications for additional user analysis.

No additional download is required. Users with the most recent versions of RealTick will automatically be directed to the new content when accessing the existing Fundamental Data Window in RealTick.

New Online Workshop

Wed, 22 Feb 2006 22:19:46 GMT

This new workshop takes an in-depth look at the trading platform from a professional trader’s standpoint. What are these professionals’ favorite tricks for finding liquidity and the best execution price? From a decision making standpoint, how can RealTick give a trader the essential edge?

Topics covered include:

Order Forms
Order Types
Order Entry Properties
Virtual Accounts
Hot Keys / Buttons
Conditional Orders
Toolbars
Trading from a Chart
Staying current with RealTick’s latest enhancements
Question and Answer session

Click here to sign up for the class.

Service Announcement Regarding Weekend Maintenance

Thu, 16 Feb 2006 21:48:22 GMT

To help better serve our customers, Townsend Analytics will be performing certain system upgrades in our Chicago data center on Saturday, February 18, between the hours of 8am and 5pm CST. Some customers may experience difficulties accessing our systems during this time, we apologize for any inconvenience this may cause.

"Futures" Magazine Gives RealTick 8.2 an Overall Rating of EXCELLENT

Wed, 04 Jan 2006 15:41:01 GMT

To read the review in its entirety, click here for the secure plug-in (required for viewing).

After loading the plug-in link above, click here for the article.

Lehman Brothers Acquires Townsend Analytics, Ltd.

Tue, 20 Dec 2005 14:06:16 GMT

Lehman Brothers, the global investment bank, announced today that it has acquired Townsend Analytics, a premier software development and global service provider for the financial services industry.

Click here to view full press release

View the press release as a PDF (Adobe Required)

Join the RealTick User Community in Our New Online Forum

Wed, 16 Nov 2005 19:32:21 GMT

Townsend Analytics, Ltd. is pleased to announce the inaugural launch of the RealTick® Forum message board. Built to complement our existing telephone and email support hotlines and the wide variety of existing training resources available to our users including daily webinars, the RealTick Forum will be web-based community where RealTick users of all experience levels can gain and share knowledge of RealTick, the most advanced data, analytics, and electronic trading platform on the market today.

Users will be able to read threads, post questions, assist other users with answers and insights, and suggest new topics for discussion. Future enhancements will include the ability to upload and share favorite pages, and get the inside scoop on important announcements and promotions. On a more fundamental basis, participants can reach out to each other and be further integrated into the community of RealTick users.

In addition to participation by the user community, the RealTick Forum will be monitored by RealTick experts staffed directly from Townsend Analytics. They will be on hand to keep the posted information accurate and up-to-date, and actively contribute to the issues being discussed.

Launch topics will include RealTick new features, charting and technical analysis, symbol guide, institutional trading, TAL Toolkit API, FIX, Europe, and topic suggestions. More are sure to come based on your feedback.

The entrance link to the RealTick Forum can be found below or can be accessed by clicking on “Help Center” on www.realtick.com. Be sure to bookmark this page for easy reference in the future! - As a new user, you will need to register only once by clicking on "Register" in top right hand corner of the page, and completing the required information. Thank you and we look forward to your postings!

http://www.realtick.com/MessageBoard

Townsend Analytics’ RealTick® Provides Leading Global Investment Bank Clients with Advanced Trading Functionality and Real-Time Market Data

Wed, 12 Oct 2005 20:45:50 GMT

Townsend Analytics is now providing the Electronic Execution and Prime Services divisions of UBS Investment Bank with its RealTick direct-access trading platform.

Click here to read full press release.

RealTick and CBOT to Provide Simulcast of Toni Turner's Workshop at The San Francisco Money Show

Mon, 10 Oct 2005 22:24:32 GMT

Click here for more information.

Man Financial Selects Townsend Analytics' RealTick® for Clients

Mon, 10 Oct 2005 21:50:12 GMT

Customers of global brokerage leader can now trade multiple products in major North American and European exchanges with a single platform

Chicago, USA and London, UK, October 10, 2005—Townsend Analytics (www.taltrade.com) is now providing clients of Man Financial (www.manfinancial.com) with its RealTick®(www.realtick.com) multi-product market data, analytics, and direct-access trading platform.

One of the world’s leading providers of brokerage services, Man Financial serves a diverse global client base that ranges from financial institutions, asset managers and industrial groups to professional traders and private clients. With RealTick, Man’s clients gain a single-platform solution for trading equities, futures, options and for the first time, Contracts for Difference (CFDs) across a number of markets electronically.

RealTick’s sophisticated order handling and decision-support tools allow users to easily employ a wide variety of complex trading strategies, such as algorithmic trading and basket trading. Specialty order types including conditional, reserve, discretionary, pegged, stop and seamlessly integrated worked orders allow users to fully control and manage their trading and lessen the market impact of a trade.

“RealTick provides the most advanced order entry, routing and risk management functionality available, eliminating the need for multiple trading platforms and programs,” comments Charles Taylor, Director of GNI Touch. “And RealTick allows us to provide more clients with the ability to trade a broader range of asset classes--using a single, constantly evolving platform that caters to our clients’ current and future needs,” he adds.

The European license agreement builds on an existing relationship between the U.S.-based Man Securities Inc. and RealTick. Since 2003, internal traders and institutional clients of Man Securities Inc have used RealTick to trade futures, options and equities on the North American markets.

“As well as being the largest futures and options broker in the world, Man Financial is London’s biggest writer of CFDs,” states Rustam Lam, Managing Director, TAL Europe (Townsend Analytics). “RealTick users will enjoy a wider range of products than ever. We’re pleased to be their platform of choice for deployment and client access to their execution capabilities, and look forward to working closely with them to grow the electronic business globally,” Lam adds.

RealTick delivers a wide range of North American and European market data and trading capability across equity, futures, options, fixed income, and foreign exchange markets, unlimited depth of book, advanced research and analytical tools, risk and account management tools, as well as direct trading connectivity to major pools of liquidity such as listed exchanges in the U.S. and overseas, ECNs and broker specific destinations.

One of the world’s first direct-access trading platforms, Townsend Analytics’ RealTick is widely used by institutional and active traders in 94 countries and territories. Euromoney magazine’s first annual Financial Technology Users’ Survey ranked RealTick highly in several categories, including Overall Cross-Category, Market Data Provider, FX & Derivatives, and Cash Positioning. Townsend Analytics garnered the highest combined score for Overall Cross-Category and Market Data Provider.

About Man Financial
Man Financial Limited is part of the Brokerage Division of Man Group plc. Man is one of the world's largest independent futures and derivatives brokers and commands a global financial presence with offices in New York, Chicago, London, Paris, Singapore, and Sydney. Today Man provides agency broking and other related services to a worldwide client base, which ranges from Investment Banks, Prime Brokers, Commodity Trading Advisers, Hedge Funds and major industrial groups to individual private clients.

Man Financial Limited is authorised and regulated by the Financial Services Authority. The registered office of Man Financial Limited is Sugar Quay, Lower Thames Street, London EC3R 6DU.

Man Financial Limited also operates under the brand names of "GNI Touch" and "Man Direct." For more information visit www.manfinancial.com.

U.S. Media Contacts:
Mike Felix, Director of Marketing, Townsend Analytics, (312) 442-8605, mfelix@taltrade.com
Anne Aldrich for Townsend Analytics, (312) 787-1642, ABM@covad.net

European Media Contacts:
Rustam Lam, Managing Director, TAL Europe, +44 (0) 20 7877 0091, rlam@taltrade.com
Charles Taylor, Director of GNI Touch, Man Financial, +44 (0) 20 7144 5403, ctaylor@gnitouch.com

U.S. Sales Contact:
Jeff Brown, VP of Sales, Townsend Analytics, (212) 679-9000, jbrown@taltrade.com

European Sales Contact:
Rustam Lam, Managing Director, TAL Europe, +44 (0) 20 7877 0091, rlam@taltrade.com

Hottrend Featured in "Futures" Magazine

Fri, 26 Aug 2005 21:16:13 GMT

Online Trading by Yesenia Salcedo

Looking for Opportunities in Stocks

"Some investors are always looking for the biggest movers of any market, whether it's commodities, financials or stocks. While commodities are being heavily traded this year, recently stocks have been viewed as 'not hot' because there have been few major moves. However, it is the movement in an individual stock that can offer trading opportunities regardless of the overall volatility of the stock market.

Many stocks today are making moves a trader can follow and profit from and Townsend Analytics' Hottrend is a tool that shows traders where the most action is in the equities markets, minute by minute....

...In spite of recent regulations and advances in technology, inevitably some market participants receive information faster than others. Hottrend levels the playing field by monitoring every equity security in real-time and detects changing trading behavior patterns..."

Secure plug-in link needed to view full story (click here first): http://secureplugin.fostereprints.com

After clicking on secure plug-in link, click here to read the full story.

More New, Free, Online Workshops

Thu, 25 Aug 2005 21:13:22 GMT

NASDAQ and Townsend Analytics Announce TotalView® Access for RealTick® Customers

Mon, 01 Aug 2005 22:06:57 GMT

Unparalleled transparency and depth of market helps users trade faster and better.

CHICAGO, August 1, 2005— The Nasdaq Stock Market, Inc. (NASDAQ: NDAQ) and Townsend Analytics (www.taltrade.com) announced today that Townsend Analytics is upgrading its RealTick trading platform (www.realtick.com) to include NASDAQ’s premier market data product, TotalViewSM.

The most complete source of NASDAQ order-book data available, TotalView provides maximum market transparency by showing the complete depth of market at all price levels, including:

· The aggregated size of all quotes and orders available for execution for every price
level in the NASDAQ Market Center for each NASDAQ National Market® and
SmallCap stock

· Multiple attributed quotes for each NASDAQ market participant

· Full non-attributed depth-of-book in all NASDAQ-listed securities, including Brut
liquidity

· Net order imbalance information for NASDAQ Opening and Closing Cross-eligible
securities

TotalView is also the fastest source of NASDAQ order book information available. NASDAQ has made technology investments to reduce TotalView’s latency by more than 75 percent, to an average of under 50 milliseconds.

By seeing better, faster NASDAQ market data, TotalView traders can identify new trading opportunities, improve their trading performance and understand how market makers are strategically working big institutional orders. Additional content like the Net Order Imbalance Indicator helps traders anticipate price movements around the open and the close by getting an indication of the market-on-close and limit-on-close orders in the market. In conjunction with TotalView quote information, traders can better gauge buy and sell pressure over the last ten minutes of NASDAQ trading, determine how to exit their day positions and take advantage of new trading opportunities that others don’t even know exist.

“As a premier market data and direct-access trading platform, RealTick caters to customers who demand the best information available and want every possible advantage in the market,” states Mike Felix, Director of Marketing for Townsend Analytics and RealTick. “With 1000% more liquidity, increased delivery speed and the integration of Brut, an upgrade to TotalView was needed to keep our customers at the forefront of trading technology,” Felix adds.

“Migration to TotalView data confirms RealTick’s position as a market leader in trading technology, giving customers the information advantage they need to succeed,” states William O’Brien, Senior Vice President of NASDAQ Market Data Distribution. “Townsend Analytics has collaborated with NASDAQ to make sure its customers have the best information available,” he adds.

RealTick delivers a wide range of North American and European market data and trading capability across equity, futures, options, fixed income, and foreign exchange markets, unlimited depth of book, advanced research and analytical tools, risk and account management tools, as well as direct trading connectivity to major pools of liquidity such as listed exchanges in the U.S. and overseas, ECNs and broker specific destinations.

One of the world’s first direct-access trading platforms, Townsend Analytics’ RealTick is widely used by institutional and active traders in 94 countries and territories. Euromoney magazine’s first annual Financial Technology Users’ Survey recently ranked RealTick highly in several categories, including Overall Cross-Category, Market Data Provider, FX & Derivatives, and Cash Positioning. Townsend Analytics garnered the highest combined score for Overall Cross-Category and Market Data Provider.

About Townsend Analytics, Ltd. (TAL) Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. For more information, visit www.taltrade.com.

About NASDAQ NASDAQ is the largest U.S. electronic stock market. With more than 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information, visit www.nasdaq.com.

In September 2004, NASDAQ completed its acquisition of Brut LLC, the owner and operator of the Brut ECN, from SunGard Data Systems Inc.

# # #

Townsend Analytics upgrades to NASDAQ TotalView® for RealTick® Customers

Mon, 01 Aug 2005 15:48:39 GMT

On August 1st, 2005, Townsend Analytics, Ltd. will begin replacing NASDAQ's standard Level II data with TotalView, NASDAQ's premier data product. This upgrade is expected to be completed by Tuesday, August 2nd.

TotalView is the fastest and most complete source of NASDAQ® order book information available. Benefits to RealTick users will include additional market depth, 1000% more liquidity than Nasdaq Level II, and the inclusion of Brut book data. TotalView provides maximum market transparency by showing the complete depth of market at all price levels, including:

The aggregated size of all quotes and orders available for execution for every price level in the NASDAQ Market Center for each NASDAQ National Market® and SmallCap stock
Multiple attributed quotes for each NASDAQ market participant
Full non-attributed depth-of-book in all NASDAQ-listed securities, including Brut liquidity
Net order imbalance information for NASDAQ Opening and Closing Cross-eligible securities

RealTick users that currently subscribe to Level II will begin receiving TotalView data starting August 1st, 2005. There will be an additional charge set by NASDAQ for TotalView access: Non-professional users will see an increase from $10 to $15 per month; Professional users will see an increase from $50 to $90 per month.

For more information on NASDAQ TotalView in RealTick, click here.

To view the press release, please click here

Additional information is available at NasdaqTotalView.com.

New, Free, Online Workshop on Automated Trading Through RealTick

Wed, 27 Jul 2005 23:09:35 GMT

Townsend Analytics Adds Free, Real-Time News Service to RealTick

Thu, 30 Jun 2005 20:28:47 GMT

RTT Basic delivers close to 500 articles each day, in real-time as the news happens around the globe. Customers also have the option of upgrading to RealTimeTraders Pro (RTT Pro) for an additional $25 per month. RTT Pro is a 24-hour Newswire that delivers close to 5000 articles each day.

RTT highlights trading opportunities from pre-market trading to after hours trading, analyst actions and recommendations, economic reports and analysis, corporate announcements, earnings releases, earnings warnings, corporate debt offerings, corporate debt rating changes by the largest agencies, comprehensive insider trading activity, and more.

RTT Basic will be added automatically to all RealTick subscription levels, and will be accessible via a News window in RealTick. Existing RTT customers will automatically be upgraded to RTT Pro.

More information on RTT and other news services available through RealTick can be found here.

View Press Release

Townsend Analytics Launches RSS Feed to Alert Customers of News and Developments

Wed, 29 Jun 2005 16:17:52 GMT

New RSS Feed from Townsend Analytics Delivers Up-to-the-Minute News and Developments

Now there’s an easy way to keep up with the latest developments from Townsend Analytics and RealTick®. Our new RSS Feed lets you view announcements, pricing updates, special promotions, press releases and more using any RSS Reader.

How RSS Works
RSS Technology, commonly referred to as “Rich Site Summary” or “Really Simple Syndication,” allows you to consolidate all your favorite online news and web sources such as trading and investment sites, newspaper, trade, magazine, and corporate sites, as well as blogs, wikis and podcasts, into a single aggregated reader. This is done simply by subscribing to each site’s RSS Feed.

Your news reader then periodically checks each RSS channel that you are subscribed to, updates all recently published news and items, and displays the results--usually in a headline and one-line summary. When a headline interests you, just click and go directly to the source.

Benefits of RSS Feeds
By subscribing to RSS Feeds, you can quickly check the content of dozens of sites in seconds, rather than the minutes or hours it would take you to visit each individual website and try to locate the most important information. You save time, minimize information overload, and learn of critical news and developments as they happen.

Because RSS Feeds deliver the information you want directly to your desktop--not through your email service or ISP--they are spam-proof. RSS is anonymous and secure; no email address or personal details need to be provided to subscribe.

In short, the news comes to you, rather than you having to go to the news. RSS Feeds put you in control of the information you want to receive.

How to subscribe to TAL RSS
If you have an RSS Reader, you can either drag-and-drop the XML Icon found on the RealTick homepage (and at the bottom of this page) into your RSS Reader, or you can right-click on the XML Icon and choose "copy shortcut". You can then paste this into the appropriate field within your reader where it requests a URL.

For your convenience, we’ve included a My Yahoo icon on the homepage and at the bottom of this page. Once you are signed into My Yahoo, please click on the My Yahoo icon. All content will then be added to the bottom of your My Yahoo page, which can be subsequently rearranged. This will update automatically every time you login.

TheFlyOnTheWall.com's Recommendation Page is Now Available on RealTick.

Fri, 24 Jun 2005 21:18:54 GMT

Subscribers to TheFly’s Live News Feed will now receive TheFly’s Recommendations page at no extra-cost. The Recommendations Page aggregates TheFly’s news feed in real-time, allowing users to drill down information by firm, upgrades/downgrades/initiations and symbol sort. The cost of TheFly’s Live News Feed and Recommendation’s Page is $25/month, billed directly to your RealTick subscription. In addition, TheFly’s Recommendation’s Page is available as a separate subscription for only $10/month.

TheFly’s Live News Feed contains comprehensive equity news form Wall Street trading desks. TheFly concentrates on breaking trading calls, analyst recommendations, market chatter, meetings, syndicate, and more

We are pleased to announce a FREE 30-day trial to TheFly’s Live News Feed effective immediately. TheFly’s Live News Feed will be a strong complement to any of your existing news services and help you make intelligent and efficient investment decisions.

To Add TheFly's Recommendation Page as new favorite in RealTick:

Download file TheFlyOnTheWall-News.rtw to your desktop.
Open and Login to RealTick.
Drag-and-Drop file from desktop into RealTick.
TheFly's Recommendation Window will open automatically. Save within RealTick page or access via Favorites/Web Browser on toolbar menu.

FREE Montreal Exchange (MX) Trial Offer

Thu, 16 Jun 2005 22:02:17 GMT

Effective July 1, 2005: Townsend Analytics, Ltd. will offer a free trial of Montreal Exchange (MX) beginning July 1, 2005 and ending July 31, 2005. This trial is available to all customers that do not currently subscribe to MX.

As Canada's oldest exchange, MX offers a wide range of equity, interest rate, and index derivatives. We encourage you to take advantage of this free trial. Please consult the MX web site at www.m-x.ca for specific derivatives information.

If you would like to participate in this MX free trial, please contact Subscriber Services. We can be reached at 1-800-997-9630, extension 1, or email us at subscriberservices@taltrade.com.

Vote for RealTick in the 2005 "Euromoney" Poll on Financial Software Providers

Fri, 10 Jun 2005 19:20:41 GMT

We would like to invite you to participate in the Euromoney poll on Financial Software Providers. This is an international ranking of technology products used by the financial industry, based on customer satisfaction. Euromoney's rankings of financial services provided to corporations and governments are highly regarded in the industry.

In 2004, Townsend Analytics/RealTick® placed highly in several key categories, and would like to thank you for all of your input and feedback towards helping us achieve this. Click here for a look at last year's results.

Your opinion is crucial to the creation of an independent, user driven, industry and department specific rating of financial technology products. If you do choose to complete this short survey, please be aware that the most relevant category for RealTick is Trading/Dealing along with the following subcategories: Market Data Provider, Order Management Capability, and Order/Trade Entry. If you use TAL Risk Analyzer, please vote within appropriate categories of the Risk Management section as well.

Participate in the poll here: www.euromoney.com/oscar/takesurvey/en/FinTech2005

All responses will be held privately by "Euromoney Magazine". All results will be aggregated, and not identifiable to any particular institution or person.

The poll and subsequent awards will be based entirely on the satisfaction ratings of the customer. This survey should take no more than 10 minutes of your time. Please distribute the link to any relevant colleagues with other specialties.

Every participant will receive a free copy of the results in the August issue of Euromoney Magazine and be entered into a drawing to win a free iPod.

Please submit your responses by the close of 24th June. The aim date for the publication of the poll’s results is August 2005.

Thank you for your participation and we look forward to receiving your opinions.

Kind regards,
Townsend Analytics, Ltd.

Tullett Liberty (Equities) Extends Global Market Access, Adds Advanced Trading Functionality With Townsend Analytics’ RealTick®

Fri, 03 Jun 2005 18:45:14 GMT

CHICAGO, USA and London, UK, May 23, 2005—Townsend Analytics (www.taltrade.com) is now providing internal traders and clients of Tullett Liberty’s global Equity Division (www.tullib.com) with its RealTickÒ multi-product market data, analytics, and direct-access trading platform.

One of the world’s largest independent agency equity brokers, Tullett Liberty provides institutional broker clients and hedge funds with access to more than 30 exchanges worldwide. With RealTick, Tullett Liberty clients can now trade more than 40 North American and European markets through a single platform, greatly increasing their trading efficiency.

RealTick’s sophisticated order handling and decision-support tools also allow traders to easily employ more complex equity trading strategies, such as algorithmic trading and basket trading of multiple securities simultaneously. In addition, specialty order types including conditional, reserve, discretionary, pegged, stop and seamlessly integrated worked orders allow users to fully control and manage their trading, lessen the market impact of a trade, and preserve anonymity.

“As an execution-only broker, we depend upon state-of-the-art technology to maintain a competitive edge,” states Leslie O’Malley, Managing Director at Tullett Liberty. “RealTick’s advanced functionality and continued technical innovation ensure we’re providing our clients with the means to achieve best execution and pricing,” he adds.

“Tullett Liberty is one of the most established and respected agency brokers in the world, and we are pleased their Equity Division has made RealTick their platform of choice for data, analysis, order execution and connectivity for their clients and traders,” states Rustam Lam, Managing Director TAL Europe (Townsend Analytics). “By forging this relationship with a market leader, we are strengthening our presence and affirming our position as an innovator in trading technology,” he adds.

One of the world’s first direct-access trading platforms, Townsend Analytics’ RealTick is widely used by institutional and active traders in 94 countries and territories. Euromoney magazine’s first annual Financial Technology Users’ Survey recently ranked RealTick highly in several categories, including Overall Cross-Category, Market Data Provider, FX & Derivatives, and Cash Positioning. Townsend Analytics garnered the highest combined score for Overall Cross-Category and Market Data Provider.

About RealTick®

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics, Ltd. (TAL)

About Tullett Liberty

Established in 1971, Tullett Liberty has become one of the world's leading wholesale brokers. Represented in all major financial centres, Tullett Liberty, along with our associated companies, offer a 24 hour hybrid service to clients around the globe. Tullett Liberty is the wholesale broking arm of Collins Stewart Tullett plc, a London Stock Exchange listed company (ticker symbol: CSTL). CSTL also owns the UK's largest independent stockbroking group. Additional information can be found online at www.tullib.com.

U.S. Contact:
Anne Aldrich
Across The Board Marketing
(312) 787-1642
annea1@covad.net

European Contact:
Rustam Lam
Managing Director - TAL Europe
Tel: +44 (0) 20 7877 0091
rlam@taltrade.com

# # #

Easybroker Expands Market Reach, Trading Ability With Townsend Analytics’ RealTick®

Fri, 03 Jun 2005 18:32:23 GMT

CHICAGO, USA and LONDON, UK, April 25, 2005—Townsend Analytics (www.taltrade.com) is now providing internal traders and customers of global equities brokerage firm Easybroker (www.easybroker.com) with its RealTickÒ market data and direct-access trading platform.

RealTick gives Easybroker clients access to more than 40 North American and European markets through a single platform, making it faster and easier to route trades to multiple global equity markets. RealTick’s advanced order handling and decision-support tools allow traders to employ sophisticated yet user-friendly order types, algorithmic trading, basket trading of multiple securities simultaneously, and to use proprietary scans and analytical tools to pinpoint opportunities.

“RealTick provides the single best solution for clients who want a more sophisticated front-end trading system combined with excellent data quality and Easybroker’s best execution capabilities,” affirms Julian Leadbeater, Director of Sales for Easybroker. “Plus RealTick’s legacy of opening electronic connectivity to new markets and exchanges will serve us well as we jointly seek out emerging specialist and unique local markets to offer our clients,” he adds.

“Easybroker is known for offering its clients the latest tools and know-how to trade a great number of global equity markets directly and effectively,” states Rustam Lam, Managing Director TAL Europe (Townsend Analytics). “We look forward to helping them deliver leading-edge trading capabilities to their clients, as well as greater reach to niche markets in the future.”

About RealTick®

*RealTick is a registered trademark of Townsend Analytics, Ltd.

About Townsend Analytics, Ltd. (TAL)

About Easybroker

Easybroker is an independent, full service, agency brokerage operating in the global equity markets. Easybroker was launched to allow institutional investors the ability to trade in as wide an array of global equity markets as possible, from a single trading platform, from a single account and with a single point of contact dedicated to their business. Additional information can be found online at www.easybroker.com.

U.S. Contacts:

Mike Felix

Townsend Analytics

(312) 442-8605

mfelix@taltrade.com

Anne Aldrich

Across The Board Marketing

(312) 787-1642

ABM@covad.net

European Contacts:

Rustam Lam
Managing Director - TAL Europe
Tel: +44 (0) 20 7877 0091
rlam@taltrade.com

Julian Leadbeater
Easybroker Director of Sales

+44 207 847 5967

jleadbeater@easybroker.com

# # #

Dow Jones Newswires Adds German-Language News to RealTick

Thu, 02 Jun 2005 21:46:43 GMT

LONDON and FRANKFURT, 29 March, 2005—Dow Jones Newswires, the world’s leading independent provider of real-time business and financial news, has expanded its real-time news provision to Townsend Analytics’ RealTick® platform with the inclusion of a German-language news service.

In addition to Dow Jones Newswires content available in North America, and Dow Jones Financial Wire and European Corporate Report—which have been available to RealTick® customers in Europe since late 2003—the trading platform now carries Dow Jones-VWD Compact. This real-time, German-language service provides a selection of the most important company and market news—as well as economic data—from Germany, Europe and nations from around the world.

The inclusion of Dow Jones-VWD Compact is a key part of Townsend Analytics’ (TAL) plan to expand usage of the RealTick® platform within the German financial markets. The agreement is the latest in a series of new distribution contracts secured for Dow Jones-VWD since its inception in April 2004, following Dow Jones’ acquisition of the newswires and business newsletters division of vwd-Vereinigte Wirtschaftsdienste GmbH ("vwd").

"Townsend Analytics is very pleased to become a distributor of Dow Jones-VWD Compact—a premium, German-language news service which we anticipate will be of great benefit to our German-speaking clientele," said Rustam Lam, managing director, TAL Europe. "RealTick, as a leading broker-neutral platform with users in over 94 countries and territories throughout the world, enhances its status as a comprehensive market data, analytics, and trading platform to buy-side, sell-side and active-trading customers within the German markets through this relationship."

"This agreement demonstrates the scope of international, regional and local-language news services that we are now able to offer to meet the needs of independent and professional traders," said Volker Schneider, managing director, Dow Jones News GmbH. "We are delighted to form part of Townsend Analytics’ expansion in Germany."

About Townsend Analytics, Ltd.
Townsend Analytics has been changing the way the world trades since 1985. The Chicago-based company created many technology innovations that are now considered standards in the financial services industry. These include the first real-time financial software under Microsoft Windows®; the first product to provide real-time streaming data over the Internet; the first integrated solution for NASDAQ trading rooms; and the first Windows-based direct-access trading solution. Townsend Analytics also developed Archipelago and the Archipelago Exchange, the nation’s first all-electronic, fully open exchange. The firm has engineered direct-access solutions for money managers, asset managers, hedge funds and mutual funds worldwide. For more information, visit www.taltrade.com.

About Dow Jones Newswires
Dow Jones Newswires’ award-winning content includes economic, financial and market-moving political news from around the world. It is the world's leading independent, real-time financial news provider, delivering up to 10,000 news items a day to more than 325,000 financial professionals in 66 countries.

In addition to this, millions of people access selected Dow Jones Newswires content through various corporate Internet sites, electronic exchanges, corporate intranets and business information services. Dow Jones Newswires provides real-time news services in ten languages.

In April 2003, Dow Jones Newswires was voted “News Provider of the Year” by market data and exchange professionals in the Market Data Awards, organised by the Risk Waters publication Inside Market Data. In August 2002, an independent survey of nearly half of all U.K. dealing-room professionals named Dow Jones Newswires the “Best Financial News Service.” Dow Jones Newswires achieved the highest rating for speed of breaking news, reliability and breadth of reporting and overall customer satisfaction.

Founded in 1882, Dow Jones Newswires has more than 700 real-time editors and reporters. It is part of Dow Jones & Company’s global news network of more than 1,600 news staff. Dow Jones Newswires also draws on the resources of several of its media partners including the Associated Press and Nikkei.

Dow Jones News GmbH, based in Eschborn, outside Frankfurt, is the leading provider of German-language financial, economic and stock market news in Germany. As part of the global Dow Jones Newswires network of more than 800 news staff in more than 90 bureaus world-wide, Dow Jones News delivers accurate, authoritative and up-to-the-minute business and financial news and information to some 80,000 financial professionals under the brand name "Dow Jones-VWD News".

In addition to the real-time news services, Dow Jones News also publishes more than 30 business-to-business newsletters, available to subscribers in both print and electronic form.

Dow Jones News GmbH was founded in March 2004, after Dow Jones & Company acquired the news division of vwd Vereinigte Wirtschaftsdienste GmbH.

Townsend Analytics, Ltd Contacts:

Rustam Lam
Managing Director - TAL Europe
Tel: +44 (0) 20 7877 0091
rlam@taltrade.com

Carsten Kilz
Authorized Distributor
Lowengasse 27 B
60385 Frankfurt am Main
+49 (0) 69-46 99 61-27
ckilz@taltrade.com