| July 01st,
2004
Genesis Securities, LLC
has been approved for Self-Clearing by NASD and
DTCC.
New York,
NY - Genesis Securities, LLC has announced
that it has been approved for self-clearing of
its equity operations. Genesis is now granted
membership with the National Securities Clearing
Corporation (NSCC) and is also a participant in
Depository Trust Company. Both NSCC and DTC are
a part of the Depositary Trust & Clearing Corporation
(DTCC). Genesis Securities is now preparing for
the final stages into the self-clearing operation
transition.
"This is the last step for Genesis
to be fully vertically integrated," said Mr. William
Yeh, President and Founder of Genesis Securities,
LLC. "We have our own data center, our own technology,
we are a service bureau, and now are self-clearing.
" Genesis believes in long-term business relationships,
thus sacrificing extraordinary margins normally
achieved by the competitors in lieu of client
retention. "It is much easier to keep our current
clients satisfied, rather then seeking out new
clients," said Mr. Serge Pustelnik, business development
director at Genesis. "Being self-clearing," Mr.
Pustelnik continued, "lets us pass along low costs
to complement our technology and expertise."
About Genesis Securities,
LLC
Genesis Securities, LLC is a price
and technology leader in the equity trading industry.
Laser, Genesis' order-entry platform, has been
certified Platinum by NASDAQ Certified Partner
program. NASDAQ rates Order Entry Platforms in
order to assist market participants in choosing
the software solution that is best tailored to
their trading needs. It takes into account speed,
reliability and features of the platform. Genesis
Securities, a NASDAQ Service Bureau, is currently
the industry price leader in direct access professional
and non-professional trading. Its order-entry
platform has achieved Platinum status, the highest
ranking by NASDAQ.
"Reliability and speed," said
Mr. Yeh "is our number one priority. One-way ping
time to INET has been recorded at 1/1000th of
one second. Genesis has direct lines to ECNs and
is on a Local Area Network (LAN) with INET. Scalability
is also major concern to us," Mr. Yeh noted. Genesis'
trading volume daily comprises 1.5% - 2% of total
daily NASDAQ volume, with less then 10% utilization.
Genesis is more than prepared for the expected
increase in its volume as it releases Laser to
remote active traders. Laser trading platform
was designed and tested by professional traders
on Genesis' trading floor next to the New York
Stock Exchange. Genesis brings together market
professionals dedicated to delivering a total
trading solution: with reliability, superior speed
of executions, extensive features and aggressive
industry price-leading commissions, Genesis places
itself to become the industry's leader.
Genesis Securities, LLC. is a
registered broker dealer with the National Association
of Securities Dealers (NASD), member of the Pacific
Stock Exchange (PCX) and a member of Securities
Investor Protection Corporation (SIPC)
Contact
-
Serge Pustelnik
Business Development Director
Genesis Securities, LLC
http://www.GNDT.com
212-668-0888
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