New solution facilitates faster transactions, greater efficiency and lower costs than traditional program trading interfaces
NEW YORK, SIA Technology Management Conference, June 17, 2003 - eSpeed, Inc. (Nasdaq: ESPD), a subsidiary of Cantor Fitzgerald, and Unisys Corporation (NYSE: UIS), today jointly announced an innovative solution that combines eSpeed's automated trading tool, AutoSpeed, with Unisys fixed income analytics program, @nalyst, developed by its TechHackers subsidiary. The new solution lets traders analyze and execute transactions in fixed income marketplaces powered by eSpeed, directly from Microsoft Excel spreadsheets.
The new solution, AutoSpeed @nalyst, provides fixed income traders with greater speed, flexibility and control than traditional program trading interfaces. By embedding sophisticated analytics and the market's leading tools for fixed-income trading into a user-friendly Excel interface, AutoSpeed @nalyst allows traders to model and execute market-making, relative value and sophisticated proprietary strategies through one worksheet, all in real time. AutoSpeed @nalyst combines the proven fixed income analytics software of Unisys TechHackers group, which is utilized by eight of the top 10 brokerage firms worldwide, with eSpeed's expertise and global reach as the leading trading technology provider for the global non-equity capital markets.
"By partnering with Unisys, we give traders all the tools they need in one worksheet to execute fast and efficient trades," said Bernard Weinstein, senior managing director of eSpeed. "Since its inception, eSpeed has focused on helping its customers get the most from the fixed income markets through advanced technological solutions. AutoSpeed @nalyst, with its ability to improve cost efficiencies and increase productivity, is a testament to our ongoing commitment to that mission."
The new solution provides traders with more flexibility than other proprietary program trading interfaces that must use independent analytics, which often require higher implementation costs. AutoSpeed @nalyst also takes advantage of Unisys extensive online analytic reference library, as well as more than 300 user-friendly functions and a full-time dedicated help desk.
"With more than 10 years of experience, our fixed income analytical tools have been market tested by Wall Street's largest and most demanding clients," said Frank Liddy, managing partner in the Global Financial Services group at Unisys. "As we combine our analytic solution, @nalyst, with eSpeed's automated trading platform, the result is a fixed income trading experience unmatched in the global marketplace. Imagine a trader evaluating trade scenarios and also executing orders from the same Microsoft Excel spreadsheet. Our partnership underscores both companies' commitment to enabling straight-through processing in the global capital markets."
Unisys and eSpeed are co-exhibiting AutoSpeed @nalyst at the Securities Industry Association's Technology Management Conference on June 17-19 at the Hilton New York hotel in New York City. In addition, both Weinstein and Liddy will be part of a workshop, "Excel Based Trading", on Wednesday, June 18th from 1:45-2:45 p.m. and from 3:00-4:00 p.m.
About eSpeed, Inc.
eSpeed Inc., a subsidiary of Cantor Fitzgerald, is the leader in developing and deploying electronic marketplaces and related trading technology that offers traders access to the most liquid, efficient and neutral financial markets in the world. eSpeed operates multiple buyer, multiple seller real-time electronic marketplaces for the global non-equity capital markets, including the world's largest government bond markets and other fixed income marketplaces. eSpeed's suite of marketplace tools provides end-to-end transaction solutions for the purchase and sale of financial and non-financial products over eSpeed's global private network or via the Internet. eSpeed's neutral platform, reliable network, straight-through processing and superior products make it the trusted source for electronic trading at the world's largest fixed income and foreign exchange trading firms, major exchanges and leading natural gas and electricity trading firms. To learn more, please visit www.espeed.com.
About Unisys
Unisys is a worldwide information technology services and solutions company. Our people combine expertise in systems integration, outsourcing, infrastructure, server technology and consulting with precision thinking and relentless execution to help clients, in more than 100 countries, quickly and efficiently achieve competitive advantage. For more information, visit www.unisys.com.
###
Unisys is a registered trademark of Unisys Corporation. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.
Contacts:
Media:
eSpeed, Inc:
Tom Ryan
212.610.2425
Unisys:
Danielle D'Angelo
212.504.7286
Mobile: 914.262.9834