New York City, NY -- (SBWIRE) -- 06/05/2012 -- Global trading pioneer World Trade Securities has acquired market access innovator PacMid Technologies and merged its broker/dealer operations with those of Dimension Trading Group to form World Trade Financial Group (WTFG). The newly merged group’s proprietary products and innovative approach creates a trading environment with enormous cost efficiencies and access to the world’s most massive liquidity pools.
WTFG, now includes one of the world’s largest proprietary trading firms, and has positioned itself to build upon the organization’s established track record in prop trading with one of the industry's most widely used trading systems. In addition to providing access to the U.S. equity and options markets, this multi-strategy trading firm offers hands-on training, in-house education and a highly cost efficient trading structure to allow its traders to maximize their earnings potential.
“We believe this merger places WTFG at the leading edge of the continuing evolution of market structure,” said Simon Librati, Co-Chairman and CEO of WTFG. “By forming a global community of independent professional traders, we are creating an enormous pool of liquidity that will rival the liquidity provided by major firms, and lower transaction costs for individual traders.”
The shareholders of WTFG are the former principals of the combined entities, led by Simon Librati and Maurice Bensoussan, the founders and owners of World Trade Securities and WTS Proprietary Trading Group. Librati will serve as Co-Chairman and Chief Executive Officer of WTFG, while Bensoussan will serve as Co-Chairman of WTFG and Chief Executive of World Trade Securities.
“For the past six years, Simon and I have worked to create a platform that provided equal access for all traders,” said Bensoussan, who will remain based in France. “What we will now be able to provide for traders is unique – unrivaled access and choice at a minimal cost. It will revolutionize this segment of the business – a total game changer.”
Ralph A. Daiuto, Jr., who served as CEO of Dimension Trading Group, will be President and Chief Operating Officer at WTFG.
Brian Schaeffer, a former New York Stock Exchange specialist, will serve as CEO of WTS Proprietary, the US prop arm of WTFG, and Chief Strategist and Managing Partner of the newly combined entity.
“While our management team possesses unparalleled experience in managing proprietary trading operations, what really sets World Trade Financial Group apart is our unrivalled combination of capital strength, advanced technology and our enormous trading volume,” said Daiuto, who will also serve as CEO of World-Xecution Strategies, the firm’s FINRA broker/dealer. “Simply stated, our traders will have unrivalled market access and one of the most competitive cost structures in the industry.”
“In the post-specialist era of equity trading, there has been a need for someone to create a mechanism to dampen excessive volatility,” added Schaeffer. “We are confident that we are building a remarkable pool of liquidity that will restore some of the best qualities of the markets that existed prior to the enactment of Reg NMS.”
“We – and the managers who use our platform – will be able to manage risk much more effectively in this combined entity,” Librati concluded. “This will prove to be one of the most compelling features of WTFG moving forward.”
The WTFG operating units will include:
WTS Proprietary Trading Group (WTSPTG) WTS Prop is a domestic broker/dealer and proprietary trading subsidiary of World Trade Financial Group. One of the largest proprietary trading broker dealers on the CBOE Stock Exchange, WTSPTG provides its U.S. traders with access to the firm’s capital, as well as extensive training and educational programs.
World Trade Securities (Cayman) Limited (WTS Ltd.) World Trade Securities is the international proprietary trading subsidiary of World Trade Financial Group. It is a multi-strategy proprietary trading firm that facilitates offshore access to U.S. equity and options markets. WTS Ltd. provides non-U.S. traders with access to a variety of proprietary trading platforms, as well as extensive training and educational programs.
World-Xecution Strategies World-Xecution Strategies is an independent agency-only broker/dealer dedicated to providing clients with un-conflicted trade execution services by offering advanced trading technology coupled with traditional “high touch” services. We build relationships with institutional investors, hedge funds, prime brokerage customers and private investors. This diverse source of order flow has provided upwards of four billion shares of global equity trading volume per month, offering investors access to significant cost savings generated by the firm’s overall economies of scale.
Fusion Trading Solutions Fusion DMA is a fully customizable advanced Direct Market Access (DMA) platform designed to meet the needs of active professional equity and options traders. Melding ultra-low latency order routing capability with integrated access to all significant liquidity pools, Fusion DMA’s system architecture is optimized for basket and large, multiple position traders. Unlike competitors who depend upon market data feeds from third party vendors, Fusion DMA utilizes data obtained directly from the trading venues themselves, ensuring the lowest possible latency.
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