TradeLabs Plc
LSE : TLAP

September 24, 2009 04:12 ET

Purchase of Algorithms

                                                                                         JE00B3FMYW12
                                                                                                                                                                                                            24 September 2009

                                             TRADELABS PLC
                                    ("TradeLabs" or the "Company")

                                      Purchase of Algorithms


TradeLabs, the algorithm trading company, is pleased to announce the purchase of 21 new algorithms.

The  purchase is of a new generation of algorithms with dual scalper and trend capacity which are used
on  futures  contracts  on the DAX, FTSE, S&P and NASDAQ indices and also on a number  of  currencies.
Scalper  technology captures small movements in the market, sometimes making hundreds  of  trades  per
day,  while trend technology is designed around the prevailing tendency of a financial market to  move
in a particular direction over time.

Three of the new algorithms have already been deployed on the Company's proprietary trading desk  with
real money on the DAX index using low, medium and high levels of risk and have seen a success rate  of
over  80%  wins  versus  losses over the short period that these algorithms have  been  deployed.  The
remaining eighteen algorithms have not yet been deployed as they are still being beta tested but their
IP and that of the three live algorithms has been transferred to TradeLabs.

The  vendor of the new algorithms is StrategyBot Russia Ltd and the algorithms have been purchased for
a cash consideration of GBP 2,359,000 which has come from the Company's existing resources.

The  three  algorithms deployed on the Company's proprietary trading desk will also be leased  to  the
Company's customers, as will the remaining new algorithms currently being beta tested.

The Directors of TradeLabs Plc are responsible for the content of this announcement.

Contacts

TradeLabs Plc
Marcus Yeoman                                         +44 (0) 7970 028442

Investor Relations
Claire Hocken                                         +65 8135 1831

St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl                            +44 (0) 207 368 6959

Contact Information

  • TradeLabs Plc