2004 Activity

 

TOUSSAINT CAPITAL PARTNERS BECOMES MEMBER OF PHILADELPHIA STOCK EXCHANGE

Toussaint Capital Partners LLC, a boutique investment bank on Wall Street, announced today that it has become a member of the Philadelphia Stock Exchange (PHLX). As the first organized stock exchange in the United States and one of North America's primary marketplaces for the trading of stocks, equity options, index options and currency options, the PHLX continues to be a leader in the development and introduction of innovative new products and services. The PHLX trades more than 7,000 stocks, more than 2,500 equity options, 17 index options, and multiple currency pairs.

“Membership in the PHLX will greatly add to our equity trading capabilities,” commented Avery F. Byrd, Sr., Chairman and CEO. “This is a notable highlight in a list of recent additions Toussaint Capital has made to create a top-notch equity trading platform,” Byrd added.

Toussaint Capital Partners has developed a commitment to building a superior equity trading platform. Experienced traders combined with several technologically-advanced order execution systems for domestic equities equates to an offering of fast and efficient execution on single orders up to the working of larger, complex orders. “Our trading software allows us to execute orders using various algorithims including VWAP, TWAP, sweeping, time slicing, arrival price improving, and pegging,” stated Byrd. Toussaint Capital Partners had previously added the capability of routing orders to dark pools of liquidity for block executions without front-running, gaming or backing-away that typically may occur when exposing orders to the street.

Toussaint Capital Partners was granted membership with a Series A-1 permit on the exchange. This permit allows Toussaint Capital to deal in the PHLX XLE equities trading system, built to leverage the advances made in equity trading technology and a more efficient method for executing, displaying, and routing orders in all National Market System (NMS) Stocks.

Membership also creates the framework for Toussaint Capital to have the potential to trade equity and index options on the PHLX as a specialist, registered options trader, floor broker or retail broker via the AUTOM system, as well as Foreign currency options as a specialist, registered foreign currency options trader, floor broker or retail member.

For additional information or to contact Toussaint Capital Partners in regard to this press release, contact Chad Bowlin or the Trading Desk at 212-328-1800.

The Philadelphia Stock Exchange can be reached at www.phlx.com or by calling 1-800-THE-PHLX or 215-496-5000.

Toussaint Capital Partners, L.L.C (TCP) is a registered broker/dealer and member NASD/SIPC. No part of this report may be reproduced in any manner without the express written permission of its author and any unauthorized dissemination is strictly prohibited. Any information represented in this report is for informational purposes only. All opinions in this report are subject to change without notice, and are not intended as an offer or a solicitation to buy or sell any securities. Any views or opinions presented in this report are solely those of the author. The owners and employees of TCP or affiliates may also be conducting trades based on these ideas. While the information contained in this transmission is believed to be reliable, no representation or warranty, whether expressed or implied, is made and no liability or responsibility is accepted by TCP or its affiliates as to the accuracy or completeness thereof. The author has not independently verified such information.

TCP, its officers, directors, employees, agents, independent contractors or consultants may have positions in securities, options or commodities referred to herein and may, as principal or agent, buy and sell such securities, options or commodities. They also may hold positions contrary to the ideas presented in the report as market conditions may warrant. TCP does not make markets in any of the securities mentioned herein and may from time to time perform investment banking services for any of the securities mentioned herein. Additional information on the securities discussed herein is available upon request.