TradeLabs Plc
LSE : TLAP

August 03, 2009 03:05 ET

JOINT VENTURE ? TRADELABS RUSSIA

                                                                                               JE00B3FMYW12
                                                                                             03 August 2009
                                                                                                           
                                                TradeLabs Plc
                                 
                                               (PLUS: TLAP)
                                                     
                                      ("TradeLabs" or "the Company")
                                                     
                                     JOINT VENTURE - TRADELABS RUSSIA
                                                     
The  Directors  of TradeLabs, the algorithm trading company, are pleased to announce the  formation  of  a
joint  venture  between  the  Company, East Pacific Traders Ltd and Market Force  Pte  Ltd.   The  company
established by the joint venture will be known as TradeLabs Russia.

The  three  partners  in  the joint venture are complimentary to each other; TradeLabs  will  provide  its
expertise  in  trading  technologies; Market Force as a distributor of trading  technology  software  will
assist  with marketing expertise; and East Pacific Traders will provide the operational side of the  joint
venture in Russia.

East  Pacific  Traders  is owned and operated by Alexander Kupryashkin and Olga Kartashova,  both  Russian
nationals with many years experience in the Russian information technology industry and computer  science.
They  will  appoint  a  management team of professionals in Russia who will run  the  daily  operation  of
TradeLabs Russia.

The  partners  in  the  joint  venture are aware of a potentially lucrative market  for  advanced  trading
software  in  Russia,  partly due to the high levels of volatility in the derivatives  market.   Algorithm
trading  is  effective  in  managing and reducing the level of risk inherent in these  market  conditions.
Furthermore,  the  Russian  Trading System stock exchange (RTS) recently made  the  decision  to  regulate
algorithm trading systems in recognition of increasing use of this method of trading futures contracts.

TradeLabs  Russia  will  market and distribute automated trading accounts to both  professionals  and  the
general public.

Market  Force  Pte  Ltd,  the  third  member of the joint venture, is  a  Singapore  incorporated  company
established in 1987 which distributes IT hardware and software throughout South East Asia.

The Directors of the Issuer accept full responsibility for the contents of this announcement.

Contact details:

TradeLabs Plc
Marcus Yeoman            +44 (0)7970 028442

Investor Relations
Claire Hocken            +65 8135 1831

St.Helen's Capital Plc
Duncan Vasey/Mark Anwyl  +44 (0)207 245 1100


Contact Information

  • TradeLabs Plc