News
141 Capital, Inc. to Begin Trading Operations
Tuesday December 18, 1:53 pm ET
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.
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“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™ 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.
