tZERO Broker-Dealer Subsidiary SpeedRoute Reports Record Monthly Trading Volume for U.S. Equity Markets
16 April 2020 - 10:30PM
Business Wire
This Demonstrates the Scale & Resilience of
the Technology, Which is Used by tZERO’s ATS for the Trading of
Digital Securities
tZERO, the global leader in blockchain innovation for capital
markets, announced today that its broker-dealer subsidiary,
SpeedRoute, which is a leader in U.S. equity order routing and
market structure, reported its strongest month in the history of
the company. The total monthly trading volume for March 2020 was
nearly three times that of March 2019, and this resulted in a 218%
increase in revenues compared to the prior period. Despite this
significant increase in volume, SpeedRoute’s system had 100% system
uptime.
SpeedRoute President Alex Vlastakis stated, “With the markets in
flux, now is the time where robustness of technology becomes a true
competitive differentiator. Our top priority continues to be to
provide broker-dealers with the ability to navigate the U.S. equity
markets, both intelligently and cost-effectively. We are thankful
for the confidence that our clients have placed in us and for our
SpeedRoute team in ensuring that our products and services remain
fully functional.”
tZERO CEO Saum Noursalehi shared, “SpeedRoute handled trading
billions of shares in March, significantly exceeding every volume
target to date. The company’s impressive performance showcases the
scalability of its technology, which is also leveraged by the tZERO
ATS for the trading of digital securities.”
Launched in 2010, SpeedRoute provides market access and smart
order routing services for U.S. equities to broker-dealer clients.
SpeedRoute’s affiliate broker-dealer, tZERO ATS, manages an
alternative trading system that trades digital securities.
tZERO is a technology firm that was founded with the goal of
utilizing distributed ledger and smart contract technology to
revolutionize Wall Street so that it is more efficient, accessible
and transparent. tZERO is a keiretsu company of Medici Ventures,
the blockchain subsidiary of Overstock.com, Inc. (NASDAQ:OSTK).
Investor Notices
Investors should note that trading securities could involve
substantial risks, including no guarantee of returns, costs
associated with selling and purchasing, no assurance of liquidity
which could impact the price and ability to sell, and possible loss
of principal invested. Further, an investment in single security
could mean lack of diversification and, consequently, higher
risk.
Digital securities reference the blockchain technology elements
that are intended to enhance investor experience through added
transparency to conventional uncertificated securities.
No Offer, Solicitation, Investment Advice or
Recommendations
This release is for informational purposes only and does not
constitute an offer to sell, a solicitation to buy, or a
recommendation for any security, nor does it constitute an offer to
provide investment advisory or other services by the SpeedRoute or
any of its affiliates, subsidiaries, officers, directors or
employees. No reference to any specific security constitutes a
recommendation to buy, sell or hold that security or any other
security. Nothing in this release shall be considered a
solicitation or offer to buy or sell any security, future, option
or other financial instrument or to offer or provide any investment
advice or service to any person in any jurisdiction. Nothing
contained in this release constitutes investment advice or offers
any opinion with respect to the suitability of any security, and
the views expressed in this release should not be taken as advice
to buy, sell or hold any security. In preparing the information
contained in this release, we have not taken into account the
investment needs, objectives and financial circumstances of any
particular investor. This information has no regard to the specific
investment objectives, financial situation and particular needs of
any specific recipient of this information and investments
discussed may not be suitable for all investors. Any views
expressed in this release by us were prepared based upon the
information available to us at the time such views were written.
Changed or additional information could cause such views to change.
All information is subject to possible correction. Information may
quickly become unreliable for various reasons, including changes in
market conditions or economic circumstances. Past performance does
not guarantee future performance and no inferences should be drawn
to that end.
About tZERO
tZERO Group, Inc. (“tZERO“) is a majority-owned subsidiary of
Overstock.com, focusing on the development and commercialization of
financial technology (FinTech) based on cryptographically-secured,
decentralized ledgers – more commonly known as blockchain
technologies. Since its inception, tZERO has pioneered the effort
to bring greater efficiency and transparency to capital markets
through the integration of blockchain technology. For more
information on tZERO, please visit: https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal,
underwriter, investment bank, investment adviser or investment
manager, and is not providing brokerage, investment banking or
underwriting services, recommendations or investment advice to any
person, and does not provide any brokerage services. tZERO takes no
part in the negotiation or execution of secondary market
transactions for the purchase or sale of securities and at no time
has possession of investor funds or securities in connection with
such transactions.
About SpeedRoute
SpeedRoute, LLC is a broker-dealer registered with the SEC and a
member of FINRA and SIPC. More information about SpeedRoute may be
found at www.finra.org.
About tZERO ATS
tZERO ATS, LLC is a broker-dealer registered with the SEC and a
member of FINRA and SIPC. More information about tZERO ATS may be
found at www.finra.org.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200416005444/en/
tZERO Media: Alexandra Sotiropoulos,
+1-347-293-1416 asotiropoulos@tzero.com
Investors: Michael Mougias, +1-347-293-1248
mmougias@tzero.com
SpeedRoute: info@speedroute.com, +1-855-773-3310
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