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HomeWelcomePress ReleasesJuly 01st, 2004
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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