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OPBL News

http://biz.yahoo.com/prnews/070315/lath086.html?.v=90

Optionable Announces Growth Initiatives
Thursday March 15, 4:05 pm ET
New Clients on OPEX(R)


VALHALLA, N.Y., March 15 /PRNewswire-FirstCall/ -- Optionable Inc (OTC Bulletin Board: OPBL - News), a leading provider of natural gas and other energy derivatives brokerage services, announced today that it has purchased two NYMEX trading rights, also called membership seats, for approximately $1.2 million through one of its subsidiaries, OPEX International, Inc. Optionable Chief Executive Officer Kevin Cassidy also noted that the Company has signed several new clients, is exploring strategic floor brokerage relationships as well as market maker incentive programs for market making firms in the energy sector.

"The purchase of these trading rights is part of an overall strategy to expand our NYMEX floor operations as well as expand our product line both on the exchange and OTC," Cassidy said. "We believe this is a wise decision at this point because the cost savings over leasing the trading right will be substantial. Also, and very importantly, we will no longer be subject to increasing lease rate changes."

The Company also said that it has signed participation agreements with 30 new users for its OPEX® trading platform since the beginning of the year, all with blue-chip clients, and that requests for the use of the software are increasing. OTC-cleared trades that are executed are cleared through the award-winning NYMEX Clearport®.

Cassidy said the strategic relationships the Company is exploring are with other OTC and floor brokerage companies.

Cassidy commented, "We will evaluate possible relationships with other OTC and floor brokers and determine what forms of strategic alliances make sense going forward. We would also evaluate and consider possible acquisition targets if they were the right fit for our growth strategy."

On the issue of market maker incentive programs, Cassidy added, "The Company and its management has not directly, or indirectly, provided compensation to its clients or their employees in the past but it will implement market maker strategies and programs which have been successful for other industry electronic platforms and exchanges. When properly and ethically administered, these programs can fuel a company's growth."