xxis (5.5) spzi (.005) 141 Capital, Inc. to Begin Trading Operations
Tuesday, December 18 2007 1:51 PM, EST Business Wire "US Press Releases "
CHICAGO --(BUSINESS WIRE)--
141 Capital, Inc. ("141"), trading as XXIS Corp. (OTC.PK:XXIS), announced today that it had completed the licensing of certain trading technology and systems from Spooz, Inc. (OTC.PK:SPZI) and is now in the process of commencing business operations. The company is operating from temporary offices and is negotiating for space within the Chicago financial district.
"All of the elements are in place to begin company operations by the beginning of January and trading will begin approximately 20 to 30 days thereafter," stated Errol Stone, the CEO of the new company. "We are excited about our prospects for the future due to the growing investor appeal in profiting from algorithmic trading operations while it is still in its infancy. We believe 141 is a ground floor opportunity."
Initially, 141 will concentrate on trading SWARM and several other proprietary systems currently being developed by 141 for the energy sector. As a trading systems incubator, 141 will engage in the development of high frequency algorithmic systems to be co-located at the exchanges in order to facilitate low-latency (fast) execution. It is intended that most trading system development will occur on the SpoozToolz(TM) platform, and that some selected trading systems will be marketed on a limited basis through Spooz, Inc. , via a revenue sharing plan.
The company will also develop and market a portfolio of investment products to satisfy the needs of high net worth investors wishing to have their money traded in individually managed or pooled accounts.
About 141 Capital, Inc.
141 Capital, Inc. , is a publicly traded company based in Chicago that develops and executes electronic trading systems for financial products listed on the world's derivatives exchanges, including foreign exchange futures and options (mostly on the Chicago Mercantile Exchange), equity index futures and options worldwide, energy futures and options, grain futures and options and fixed income futures and options.
About Spooz, Inc.
Spooz, Inc. , is a publicly traded company based in Chicago that provides a suite of solutions designed to simplify financial trading for traders and hedgers alike. SpoozToolz(TM) and its modules, the Company's flagship products, add built-in trading capabilities to the popular Microsoft(R) Excel software application, combining a customizable interface, streaming quotes, charts, technical analysis, a historical database, and electronic trade execution into an add-in that becomes part of the Excel tool bar.
Forward Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of Forward-Looking Statements: This news release may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements.
Source: 141 Capital, Inc.
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