TORONTO, Aug. 17, 2012 /CNW/ - Frontline Technologies Inc. (TSX - FLC), a leading provider of technology-based equity and options trading services, IT infrastructure support and managed network services, announced today its strategic partnership with Silexx Financial Systems LLC, the creators of the Obsidian trading platform. Through this strategic partnership, Frontline will receive exclusive Canadian reseller rights whereby it will offer this custom platform to the Canadian marketplace.
"Obsidian is a feature rich platform that offers an enhanced level of flexibility and speed. It is both sophisticated and intuitive. We're excited by this unique cocktail of capabilities, which includes advanced analytics and real-time risk controls that can respond to the shifting demands of the marketplace. Complete with multiple order entry capabilities, dynamic market depth windows, multi-leg options strategies, and real-time compliance and auditing capabilities, we believe that Obsidian is an offering that is cutting-edge, lean, and robust. We anticipate launching Obsidian in the coming months and look forward to it being a part of our growing product and services suite," said Mo Hirani, Managing Director.
"We're proud to bring Obsidian to the Canadian marketplace and what it means to our business growth initiatives. Given Frontline's strong client base and existing technology infrastructure and cloud, we believe this partnership unlocks significant value to the financial services community in Canada," said Thomas J. Frey, President of Silexx.
About Silexx Financial Systems LLC.
Silexx Financial Systems LLC is a leading developer of professional trading and risk management systems. The Silexx team has a strong and extensive background developing trading applications and infrastructure for the financial services industry that includes institutional brokerage, market making, as well as design and implementation of automated and high frequency trading platforms.
Silexx has integrated Obsidian into various clearing firms, broker-dealers and professional trading firms, and has an extensive list of users, ranging from highly sophisticated retail investors to hedge funds and market makers.
About Frontline Technologies
Frontline Technologies Inc. is a provider of trading technology services for equities and options and also offers IT infrastructure support and managed services. Frontline Technologies is listed on the Toronto Venture Exchange (Ticker FLC) - Additional information is available at www.frontline.ca
Frontline forward looking statement disclaimer
Except for historical information contained herein, the matters discussed in this press release are based on forward-looking statements that involve risk and uncertainty. A variety of important factors could cause results to differ materially from such statements, including but not limited to economic, competitive, governmental and technological factors affecting the company's operation, markets, products, prices and other factors.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Frontline Technologies Inc.
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