News for 'ONCP' - (141 Capital, Inc. Update on TradeTablet(TM))
CHICAGO, IL, Jan 26, 2010 (MARKETWIRE via COMTEX) -- 141 Capital, Inc.
(PINKSHEETS: ONCP).
141 Capital is anticipating the completion of TradeTablet by its partially owned
subsidiary, Wind River Development Corporation ("WRDC"), and will then apply to
the National Futures Association to become an Independent Introducing Broker.
Since management is relying upon TradeTablet to conduct business as Introducing
Broker, 141 asked WRDC for an update on development progress as well as its
plans for TradeTablet.com.
As of January 23, WRDC reported that it has reviewed weekly development releases
of TradeTablet by its developer Cosecant since early in the fourth quarter 2009.
TradeTablet includes two components; a fully functional spreadsheet-based
electronic trading platform and a social networking website accessible at
www.tradetablet.com upon the product's release. Initially, basic TradeTablet
software, real-time data and other services will be made available to customers
of 141 Capital (upon completion of its NFA registration) and Interactive Brokers
at no cost. These customers will have the ability to trade futures and futures
options through 141 Capital, and a comprehensive range of investment products
through Interactive Brokers such as stocks (including OTC and Pink Sheets),
derivatives, options, funds and bonds listed on exchanges around the world.
Paul D. Strickland, Jr., WRDC's CEO, reported to 141 Capital that development is
progressing nicely and although behind schedule, a beta version will be
available in March 2009. "The electronic execution platform has reached the
point where the product is stable and performance is well within design
specifications, something that could not be accomplished utilizing many
spreadsheet applications due to inherent design limitations." Mr. Strickland
also reported that design work for the social networking web site has been
completed.
Errol Stone added, "We are excited about some of the unique features that our
trading customers will enjoy, such as the ability to join a moderated group,
view real-time data and systems inside the group's facility on TradeTablet.com,
and actually execute trades from a chat room environment. In addition, 141
customers will have the ability to develop or subscribe to trading systems that
will execute trades for their account, or test trading strategies from a
simulated trading environment where there is no risk."
About 141 Capital, Inc. (www.141capital.net)
141 Capital, Inc., is a publicly traded company based in Chicago. Its primary
operations involve commodity trading for its own account. 141 is in the process
of registering as an Introducing Broker with the National Futures Association to
enable it to offer futures products to the general public. To attract customers,
141 will be utilizing TradeTablet and IB's product line.
Safe Harbor Act: This release includes forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995 that involves risks and uncertainties including, but not limited to, the
impact of competitive products, the ability to meet customer demand, the ability
to manage growth, acquisitions of technology, equipment, or human resources, the
effect of economic business conditions, and the ability to attract and retain
skilled personnel. The Company is not obligated to revise or update any
forward-looking statements in order to reflect events or circumstances that may
arise after the date of this release.
141 Capital, Inc.
Errol Stone
312-513-4365
God grant me the serenity to deal with the things I cannot change; courage to change the things I can and should; and wisdom to know the difference.
