JERSEY CITY, N.J., March 10, 2008 (PRIME NEWSWIRE) -- Direct Edge ECN announced today the opening of its new headquarters at 545 Washington Boulevard in Jersey City, New Jersey. The offices, totaling over 10,000 square feet, have been in planning and construction for over six months and were completed on March 4, 2008. Previously, Direct Edge personnel and operations were housed within the offices of Knight Capital Group, one of the company's investors. Direct Edge also has acquired the rights to lease over 3,500 square feet of adjacent office space to facilitate its continuing expansion.
"Our new headquarters symbolize our evolution into a major market center," said William O'Brien, Chief Executive Officer of Direct Edge. "Having completed the transition to an independent entity, our new offices will help provide us with the physical infrastructure to grow and continue executing on our mission of growth and innovation." Direct Edge has seen its average daily volume grow from 150 million in February 2007 to 530 million in February 2008, and its number of full-time employees has nearly doubled during that period. With plans to add even more employees in the coming months, the move to the new office allows for further expansion.
About Direct Edge ECN
Direct Edge ECN offers the next generation of displayed markets. Through multiple platforms and unique order types, Direct Edge matches complementary forms of liquidity based on sensitivity to transaction cost, fill rate, fill speed, and contra-side sophistication while maintaining high execution quality and low latencies. Direct Edge is owned by a consortium that includes Knight Capital Group, Citadel Derivatives Group, and The Goldman Sachs Group, Inc. Direct Edge's volume has peaked at over 800 million shares in November 2007. More information about Direct Edge is available at http://www.directedge.com. Everybody Needs Some Edge.
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