The "Beast " is everywhere:
The BRUT ECN Selects TheBEAST Framework with TheBEAST Transact Bundle to Power
Equity Trading Operations
Business Editors & High-Tech Writers
NEW YORK--(BUSINESS WIRE)--June 15, 2001--TheBEAST, Inc. a
technology solutions provider for the financial services industry,
announced today that The BRUT ECN, L.L.C., selected TheBEAST's
flagship product, TheBEAST Framework(TM), along with TheBEAST
Transact(TM) bundle, to support BRUT's comprehensive array of services
for broker/dealers and financial institutions.
BRUT selected TheBEAST Framework with TheBEAST Transact
principally for its high performance capabilities as an asset class
neutral, integrated platform enabling financial services firms to
manage transaction flow, monitor trades, and distribute transactional
applications in real-time. This is the first implementation in the
equities market of the new product, TheBEAST Transact bundle, on the
asset class neutral BEAST Framework. In addition, TheBEAST will
provide BRUT with a managed hosting solution. Delivery and
implementation by TheBEAST is scheduled for Summer 2001.
"TheBEAST is pleased to serve as the Single Point of Contact
(SPOC) for BRUT as they further develop their technology offerings. By
providing hardware and hosting services, in addition to expertise in
application management and integration to real time data sources,
TheBEAST reduces BRUT's operating expenses, while improving their time
to market," said Jorge Vidal, Executive Vice President, Global Sales,
TheBEAST. "We look forward to providing the suite of services that
will support BRUT's demanding business plans."
TheBEAST Framework is a platform for application development,
deployment, and distribution. It is a suite of tools and technology
for developing applications over any network that requires
reliability, extensibility, manageability, and high performance.
TheBEAST is a highly customizable front and middle office business
solution, easily integrating market data sources, liquidity pools and
backoffice systems. In addition to Equities, the framework also
handles applications for the fixed income, foreign exchange and
derivatives markets.
"Equities are a highly competitive marketplace, and the recent
unprecedented increase in equity trading volume worldwide makes it
even more so," said Geoff de Lesseps, Chairman and CEO of TheBEAST.
"BRUT is a formidable marketplace entity, and we are pleased to
provide BRUT with the tools that will enable them to maintain a
competitive advantage by helping their clients better execute their
investment strategies."
"TheBEAST's Internet delivery system with sub-second response
time, along with their ability to handle high volume trades in a true
real-time environment, uniquely qualifies them to provide BRUT with
the performance our clients demand," said Alex Peterhans, Vice
President of Product Development and Technology, The BRUT ECN. "In
addition, TheBEAST's ability to develop a customized system and bring
it to market quickly and efficiently will help support the continued
success of BRUT's business."
"As we continue to grow and diversify our businesses, we look for
reliable and innovative technology partners," said Richard Schenkman,
CEO of The BRUT ECN. "TheBEAST delivers the dependability we seek. It
is data agnostic, fully scalable, and allows for the flexibility to
add applications on the fly - - features that will successfully
accommodate our ambitious growth plans."
About The BRUT ECN L.L.C.
The BRUT ECN, L.L.C. is one of the fastest-growing Alternative
Trading Systems (ATSs) in the Nasdaq market. BRUT's unique business
model strengthens the relationships between broker-dealers and their
institutional clients, while its proprietary tools ensure superior
finctionality and access to all of Nasdaq's liquidity. BRUT is owned
and supported by 27 Wall Street firms, including Bear Stearns, Goldman
Sachs, Knight Trading Group, Merrill Lynch, Morgan Stanley, Salomon
Smith Barney, and SunGard Data Systems. The BRUT ECN, L.L.C. is
headquartered in New York City.
About TheBEAST
Founded on the trading floor of a global trading firm, TheBEAST
technology was first created to help financial professionals trade
faster, smarter and more cost effectively. TheBEAST product suite is a
platform for distributing front and middle office application
solutions for buy and sell side trading environments across Web,
wireless and WAN networks. TheBEAST's single unified platform delivers
real-time streaming market data, extremely accurate analytics and
transactional capabilities for trading Equities, Fixed Income, Foreign
Exchange and Derivatives. TheBEAST is headquartered in New York City.
Further information is available on the Web site: www.thebeast.com.
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CONTACT: TheBEAST.COM, Inc.
Susan Frederick/Ajeet Anand
212-602-4215/212-602-4243
sfrederick@thebeast.com/aanand@thebeast.com
or
Write Image
Jennifer Massing, 917-320-6455
jennifer@write-image.com
or
The BRUT ECN, L.L.C./Edelman PR Worldwide
Lisa Schwartzman/Lindsay Bogdan
917-637-2584/212-704-8113
lschwartzman@ebrut.com/lindsay.bogdan@edelman.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: BANKING COMPUTERS/ELECTRONICS NETWORKING
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