Midastrade.com Inc.

Midastrade.com Inc.


January 03, 2007 14:32 ET

Patsystems plc Signs Contract to Provide Front-End System to Midas Securities LLC

BUENA PARK, CALIFORNIA--(CCNMatthews - Jan. 3, 2007) - MidasTrade.com Inc. (PINK SHEETS:MIDS) and Patsystems -

Patsystems is pleased to announce the signing of an agreement to provide front-end trading systems to Midas Securities LLC.

MidasTrade.com Inc. through its wholly owned subsidiary Midas Securities LLC, has been providing Korean brokers and dealers with direct access to the US equities market since 2002. In 2006, they expanded their Midas GDAN, Global Direct Access Network, to include access to futures & commodities markets for Korean futures trading companies and brokers via Patsystems' trading front-end, J-Trader.

Midas Securities will also be providing access to KOSPI, Korean Composite Stock Price Index, via Patsystems solution.

Jay Lee, President and CEO, Midas Securities LLC:

"Midas Securities is the first company to provide a direct link between Korean investors and the US securities markets. Our decision to expand Korean brokers' access to include US futures and commodities markets is a very positive step and Patsystems' solution has made the entire process much faster and easier for us."

Patrick Kenny, Patsystems Managing Director for North America said:

"We are delighted to add Midas Securities to the growing list of Patsystems' customers. We are well established in both the US and Asia, making us the right development partner for their expanding futures business."

About Patsystems

Patsystems provides industry-leading trading technology: fast, reliable and secure electronic systems that support global connectivity from a single screen. Order routing to electronic and open outcry exchanges with comprehensive risk management and the ability to create tailor-made solutions through an open API (FIX or proprietary format), backed by superior customer support. Futures and options brokers worldwide distribute Patsystems' technology to thousands of end users, from independent traders and arcades up to large financial institutions and global brands.

About MidasTrade.com Inc.

MidasTrade is a U.S. based company committed to the deployment of the Midas Global Direct Access Network (GDAN) that allows investors to trade securities, options and futures in real time via their online trading account through the MidasTrade network of participating exchanges, all over the world. The MidasTrade GDAN is designed to provide investors with immediate execution and confirmation of their securities trade with minimal surcharges and commissions. The company successfully launched MidasTrade GDAN in South Korea and the U.S. in March 2002, and is expanding to Canada, Hong Kong and Europe. Additional information is available at www.midastrade.com.

Contact Information

  • Patsystems plc
    David Webber
    +44 (0)20 7940 0463
    Patrick Kenny
    MD, North America
    (312) 922-7600