VDM Trading Commences Remote Market-Making in Equity and Index Options
May 08 2006 - 12:37PM
PR Newswire (US)
Marking the Launch of a Diversified Global Trading Firm NEW YORK,
May 8 /PRNewswire/ -- VDM Trading, LLC, an affiliate of VDM
Specialists, LLC, today announced that it has begun remote
market-making in equity and index options traded on the Chicago
Board of Options Exchange ("CBOE"). The launch of VDM Trading
underscores the strength of VDM's technology, and marks an
important milestone in its continued development of a global
trading business across multiple asset classes and exchanges. "The
launch of VDM Trading marks the beginning of an exciting new era
for our business, as we leverage our technology expertise into new
markets and trading opportunities," said Robert Fagenson, CEO of
VDM Specialists, LLC. "We are developing industry-leading hybrid
technology, which, when combined with our decades of market making
experience, will open a variety of new growth opportunities for
us." VDM Trading was formed with the appointments of Andrew Golden,
Nicholas Marfino, Thomas Sevick, Jim Ludwig and Andrew Feiwel all
of whom joined VDM from Adirondack Electronic Markets, LLC, an
automated equity options market- maker. This group brings over
three decades of options trading experience to VDM Trading. "VDM
Specialists was the natural fit for us due to its solid technology
infrastructure and quality brand," said Andrew Golden, Head of
Trading, VDM Trading, LLC. "Moreover, in VDM we found a partner
that has the same vision and objectives as us, which will be
critical in executing our focused growth plan." VDM Trading's
electronic options market-making system is complemented by an
institutional sales arm, which offers listed equity and index
options to institutional customers. Additionally, VDM Trading will
be augmented by two floor-based market makers located at the CBOE.
About VDM Trading, LLC VDM Trading is a remote market-making
platform for equity and index options. Currently, the company's
electronic algorithmic software is used by two floor-based market
makers at the CBOE. Additionally, VDM Trading offers institutional
sales services, providing listed equity and index options to
institutional customers. VDM Trading is part of publicly traded Van
der Moolen Holdings NV (NYSE:VDM). About VDM Specialists, LLC As
one of the largest specialist firms on the NYSE, VDM Specialists
represents over 400 leading issues including Pfizer (PFE),
Hewlett-Packard (HPQ), Disney (DIS), and Tiffany & Co. (TIF).
VDM Specialists is part of publicly traded Van der Moolen Holdings
NV (NYSE:VDM). For more information about VDM Specialists, please
visit http://www.vdm-usa.com/. DATASOURCE: VDM Trading, LLC
CONTACT: Company: Mark A. Baer, Managing Director, +1-646-576-2700,
; Media: Sanuber Bilguvar, Gavin Anderson & Company,
+1-212-515-1957, Web site: http://www.vdm-usa.com/
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