October 2006
NSX Initiates Phased-In Launch of NSX BLADE
Monday, October 30, 2006
CHICAGO, October 30, 2006 - National Stock Exchange, Inc. (NSXSM) today announced that it has begun a gradual phase-in of its new, state-of-the-art technology platform, NSX BLADE.
Nineteen Nasdaq-listed stocks will be transitioned into NSX BLADE tomorrow, October 31, from the Exchange's legacy system, the National Securities Trading System (NSTS). The phase-in began October 23 with the transition of one Nasdaq-listed stock (Bank of the Carolinas Corporation - ticker symbol BCAR) into NSX BLADE from NSTS. Additional Nasdaq-listed stocks will be phased into NSX BLADE over the next several weeks, followed by all securities listed on other exchanges.
NSX BLADE is NSX's completely new state-of-the-art technology platform and the centerpiece of the Exchange's new business model. Built from the ground up for the post-Regulation NMS environment, NSX BLADE offers strict price-time priority, unprecedented speed, highly competitive exchange pricing and an order delivery function to meet today's speed, price and service needs.
"The launch of NSX BLADE is the culmination of a major transformation NSX began a year and a half ago that has included the building of an entirely new technology platform by the best IT experts in the business," said Joseph Rizzello, NSX CEO and Chairman of NSX Holdings, Inc. "We applaud NSX's Chief Technology Officer Paul Arber and his team for enabling NSX to deliver the first competitive system to an industry seeking a high-tech, low-cost alternative to the status quo.
"We've done our homework, listened to what the customer wants and built the most inclusive system in the industry. We believe our new technology platform -- NSX BLADE and NASD/NSX Trade Reporting Facility -- will be the alternative of choice going forward," Mr. Rizzello said.
In addition to strict price-time priority, speed, order delivery, and highly competitive pricing due to NSX's unique operating leverage, NSX BLADE features: scalable capacity, with capability of quick expansion as volume dictates; connectivity options -- through direct connect and all major extranets, plus co-location availability; and anonymity during all stages of order execution, from the receipt of the order through the clearing process.
During the transitional period in which NSX will be phasing various securities into NSX BLADE, the Exchange will be operating both the NSX BLADE and NSTS systems.
The 19 stocks to be transitioned into NSX BLADE on October 31 are:
BSQR - BSQUARE Corporation
DIMEZ - Dime Bancorp, Inc.
GTCB - GTC Biotherapeutics, Inc.
GTIM - Good Times Restaurants Inc.
INHX - Inhibitex, Inc.
LCRY - LeCroy Corporation
MDCA - MDC Partners Inc.
MDII - MDI, Inc.
MDLK - Medialink Worldwide Incorporated
NGRU - netGuru, Inc.
NMGC - NeoMagic Corporation
ONSM - Onstream Media Corporation
OPOF - Old Point Financial Corporation
PFCO - PAULA Financial
PDEX - Pro-Dex Inc.
QMED - Q Med, Inc.
RCMT - RCM Technologies, Inc.
SERV - Servidyne, Inc.
TEAM - Techteam Global, Inc.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.
NSX Appoints Joseph S. Rizzello CEO of Exchange
Thursday, October 19, 2006
CHICAGO, October 19, 2006 - National Stock Exchange, Inc. (NSXSM) today announced that Joseph S. Rizzello has been appointed Chief Executive Officer of the Exchange. Mr. Rizzello has assumed the responsibilities of NSX CEO in addition to his duties as Chairman of the Board of NSX Holdings, Inc., a position to which he was elected on September 22, 2006. NSX Holdings, Inc. is the parent of NSX.
Mr. Rizzello succeeds David Colker, who has decided to resign to pursue other opportunities and has offered to continue with the Exchange through a transition period.
Donald L. Calvin, NSX Chairman of the Board, said, "Joseph has served as a valued member of the NSX Board and, more recently, Special Adviser to NSX's Board before being elected Chairman of NSX Holdings last month. He was a chief architect of NSX's new business plan, working for the past two years to implement a strategy to make NSX a leading stock exchange in the U.S. The Board is very pleased that Joseph has accepted their request that he become CEO during this interim period. The Board also appreciates David Colker's many years of dedicated service and his willingness to assist during this transitional period."
Mr. Rizzello's appointment as NSX CEO caps off a year of major achievements. Together with Mr. Colker, Mr. Rizzello executed a new business plan that included NSX's restructuring from a not-for-profit to a for-profit holding company, the raising of new investment capital from six major Wall Street firms, and the building of a new-state-of-the-art technology platform expected to launch shortly.
"NSX's financial position is now the strongest in its history," said Mr. Rizzello. "We are about to launch an entirely new trading platform, NSX BLADESM and the NASD/NSX Trade Reporting Facility. It has been a pleasure working with David Colker toward these accomplishments and I appreciate his many contributions to this institution over the years. It's a terrific time for NSX and I am proud to be a part of this transformation and the opportunities it presents for this Exchange. I believe that this organization has made a significant contribution to the national market system and I am gratified to have been associated with it and to have worked with so many talented people," said Mr. Colker. "Following a year of historic change, the Exchange is now poised to take advantage of the tremendous opportunity created by Reg NMS. I am confident in the future of this organization and believe the time is right for me to shift to a more advisory role while I explore other opportunities."
NSX's Board of Directors has expanded the role of its Management Development Committee to include a search for a permanent successor for the NSX CEO position.
Mr. Rizzello's is a 35-year veteran of the securities industry. His role as Special Adviser to NSX from September 2004 to September 2006 immediately followed his service as a Director on NSX's Board from January 2002 to September 2004 and a member of NSX's Executive Committee during that period.
Prior to his appointment as Special Adviser to NSX, Mr. Rizzello was Managing Director of Pershing LLC, President of Pershing Trading Company and a member of Pershing's Executive Committee. Before joining Pershing, he was a Principal at Vanguard Brokerage Services (VBS). Earlier in his career, he served as Executive Vice President of Marketing, Business and New Product Development at the Philadelphia Stock Exchange, as well as president of its futures subsidiary, the Philadelphia Board of Trade.
Mr. Rizzello is a recognized industry expert and a frequent speaker at industry conferences, most recently on issues related to Regulation NMS. He has lectured extensively on equities, equity options and sector index options, as well as foreign exchange risk management.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.