SOURCE: Marketcetera

May 12, 2008 09:12 ET

Marketcetera Appoints Yahoo! Veteran as VP of Engineering

Open Source Automated Financial Trading Systems Provider Adds Yoram Talmor to Executive Team

SAN FRANCISCO, CA--(Marketwire - May 12, 2008) - Marketcetera, developer of open source platforms for automated trading systems, today announced that software industry veteran, Yoram Talmor, has joined Marketcetera as vice president of engineering. In this role, Talmor will be responsible for developing the company's first commercially available algorithmic trading platform, scheduled for release in the fourth quarter of 2008, and providing technical direction for the company's products and services.

Talmor has more than 12 years of experience in management and software development, with expertise in high performance, large scale distributed systems, both at startup companies and large enterprises. Prior to Marketcetera, he worked as director of engineering at Yahoo!'s Search Marketing Group. Previously Talmor held various positions at Yahoo!, Inktomi, Seerun and IBM, where he worked as a research associate in the distributed systems group.

"We are bringing Yoram on board at a critical juncture, as we are preparing to launch our first commercial trading product," says Graham Miller, CEO of Marketcetera. "Marketcetera just received $4 million in Series A funding led by Shasta Ventures and Yoram's expertise will help take the company from an innovative start-up to a leader in automated financial trading systems."

Marketcetera provides an open-source trading platform that delivers fast, flexible and reliable securities trading tools for financial services professionals. The company's comprehensive software platform enables financial services firms of any size to gain a competitive advantage by building effective automated trading systems, developing proprietary algorithms, creating order management solutions and managing risk.

"Marketcetera is using open source software and methodologies to give financial institutions an alternative to expensive, monolithic proprietary trading systems," says Talmor. "The market for automated trading systems is expected to jump from 30 percent to more than 60 percent in the next few years. I am impressed with the potential of Marketcetera's technology and with the company's vision to level the playing field when it comes to developing trading strategies."

Talmor holds masters and bachelors degrees in computer science from the Technion Institute of Technology in Israel, with a concentration in distributed shared memory systems.

About Marketcetera

Marketcetera (http://www.marketcetera.com) is a provider of open source software for automated trading systems. Portfolio managers can quickly transform trading ideas and pricing rules into their own proprietary algorithms that are embedded in the Marketcetera platform. The open source foundation of the platform provides maximum flexibility and technology choice to institutions of all sizes.

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