JERSEY CITY, N.J., May 7, 2009 (GLOBE NEWSWIRE) -- Direct Edge announced today that it has formally filed two Form 1 applications with the Securities and Exchange Commission in order to register its ECN trading systems, EDGX and EDGA, as facilities of two newly-created national securities exchanges.
"The filing of our exchange applications is an important milestone for Direct Edge," said William O'Brien, Chief Executive Officer of Direct Edge. "As the third-largest stock market operator in the U.S. - and the world - we look forward to continuing the application process in order to join the ranks of registered exchanges."
About Direct Edge
Direct Edge offers the next generation of displayed markets. With U.S. cash equities volume routinely exceeding 2 billion shares per day, Direct Edge uses multiple ECN and exchange platforms and unique order types to match 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. Headquartered in Jersey City, N.J., Direct Edge is owned by a consortium that includes the International Securities Exchange, Knight Capital Group, Inc., Citadel Derivatives Group, The Goldman Sachs Group, and J.P. Morgan. More information about Direct Edge is available at http://www.directedge.com. Everybody Needs Some Edge.
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