From: newsout@canada-stockwatch.com
Date: Thu, 17 Jun 1999 13:30:16 -0700
Subject: Stockwatch: Versus Technologies Inc - News Release
To:
Versus signs electronic link agreement with Davidge
Versus Technologies Inc V
Shares issued 11,619,874 Jun 16 close $14.25
Thu 17 Jun 99 News Release
Mr. Nigel Etherington reports
Versus Technologies Inc. has signed an agreement with Davidge Data Systems
Corp., a U.S.-based order-routing connectivity firm, to provide an
electronic link between Davidge's electronic securities trading and
communication network (DavNet) and Versus' electronic securities trading
and communication network.
The agreement will permit Versus' institutional customers on the Versus
Network - both investment managers and broker-dealers - alternative access
through DavNet to various U.S. exchanges and major market makers.
Additionally, Davidge's more than 200,000 DavNet subscribers will be able
to access Versus' customers and Canadian exchanges through VTN. The
inter-network link currently uses FIX protocol 4.0 for messaging, including
the ability to enter, route, and execute trades of single equity orders and
baskets of orders.
"This agreement is an integral part of Versus Technologies' strategy of
providing North American-wide access for trading in Canadian securities,"
said Nigel Etherington, executive vice-president and chief operating
officer of Versus Technologies. "We are excited about our partnership with
Davidge because it enables Versus to further enhance access to liquidity
pools for our customers."
Nick Davidge, chief executive officer of Davidge Data Systems, remarked:
"This interconnection of networks with Versus is an important step for us
in achieving our goal of having DavNet extend its reach into Canada. We see
Versus as having the premier institutional trading system in Canada and we
are quite certain that our U.S. broker-dealer DavNet subscribers will wish
to route orders to VTN execution points."
The VTN uses both Versus' proprietary trading terminals and those of
independent third parties, such as Bloomberg, to access exchanges and other
liquidity pools.
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