The Philadelphia Stock Exchange announced today that the PHLX and TORC Financial, LLC (TORC) have entered in to an agreement for a joint development project to provide ancillary services to the PHLX-XLE Equity Trading System. Expected services to be developed by TORC and licensed to the PHLX include VWEB, a system that allows for the entering of cross orders by PHLX floor brokers, as well as Help-Desk and operational support tools. In addition, TORC will also provide consulting and advisory services as necessary to ensure the successful implementation and expected growth of the PHLX-XLE System, as well as the continued success of PHLX as the nation's oldest and most innovative securities exchange.
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 1,943 stocks, more than 2,200 equity options, 19 sectors index options, and currency options and futures. For more information about the PHLX and its products, visit www.phlx.com.
TORC Financial, LLC, is a financial-automation software design firm committed to the development of high-performance trading solutions for the Equity, Options, and Futures markets. With a highly specialized staff of Mathematics Doctorates, computer system engineers, and electronic trading specialists, TORC Financial is uniquely capable of responding rapidly to changing demands in an increasingly sophisticated industry.
