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PRESS RELEASES May 26, 2010 Ballista Securities LLC, operator of the Ballista Alternative Trading System (ATS) for block options, announced they have completed another significant upgrade to their trading system with the release of Version 2.1 of their platform. Available now, Ballista v2.1 provides a variety of new functionality that will further improve the user experience. "Ballista is listening to traders and quickly implementing the innovative new features they require," said Dr. Daniel Marques, Ballista's CTO. He added, "We are confident Ballista v2.1 will be well received by the trading community as it demonstrates our commitment to innovation in this space." Summary of v2.1 New Functionality Ballista v2.1 adds the following new features: Staging Blotter - the ability to define strategies, stage them to a blotter, and release them to the market at a later time. Display Size on IOI - the size of the initial interest for the strategy is now displayed with the IOI for GUI customers and disseminated to API customers. Contra Step In Auto Resubmit - in the event that any portion of a liquidity provider.s order is stepped-in on by the crowd, the system will now resubmit that quantity for execution against any remaining initiator interest. New Cross Order Types - four new handling mechanisms are now available to our users that submit crossing orders. One Hour Auction Length - longer auction length to assist in sourcing liquidity for more complex or larger sized strategies. Size and Strategy Filters - increased filtering to delineate IOIs you would like to receive based on size and strategy types. End of Auction Notification - visual and audible notifications to alert customers of expiring auctions. Manual Exchange Preference - the ability to specify a preferred exchange for manual broker execution. For complete list of new and upgraded features please contact Ballista Sales at 800-434-7552 or via email at sales@ballistasecurities.com. April 30, 2010 Ballista Securities LLC, operator of the Ballista Alternative Trading System (ATS) for block options, announced they are partnering with Mixit, Inc. to add the Ballista execution venue onto Mixit's global connectivity network. Mixit's user base will be able to access Ballista via a secure connection or through Mixit's options and equities trading platforms. Focused on equity options, Ballista reduces the time and manual effort required to execute block option and volatility orders by providing an electronic alternative to current manual trading methods. "Mixit, Inc. is widely recognized in the institutional trading community for its agnostic, trader-focused approach to the development of advanced financial technology solutions," said Mark Monahan, Ballista CEO. "We are very excited to be offering the Ballista services to their growing base of end users." Walter Fitzgerald, CEO for Mixit said, "Based on strong demand for our options OMS this partnership with Ballista will further strengthen the suite of services currently available to equity options traders on our platform while adhering to our principals of anonymity and innovation. Ballista will both enhance liquidity and increase the number of execution venues available to traders on our platform who trade large numbers of option contracts." About Ballista Securities LLC Ballista Securities, operator of the Ballista Alternative Trading System, offers equity options traders an efficient, anonymous and reliable platform for delta-neutral strategies, complex transactions and block options trades. For more information, please contact Ballista Sales at 800-434-7552 or via email at sales@ballistasecurities.com. About Mixit, LLC Mixit Inc. is the market leader of advanced multi-asset OMS trading technology. Mixit provides extensive FIX based network connectivity services to the domestic and international financial industry. Mixit's intergrated suite of products allows firms to seamlessly trade, communicate and execute across all equities and options destinations including access to exchanges, Algos,crossing venues, dark pools, etc. Mixit offers comprehensive trading solutions including front, middle and back office encompassing end of day reporting and compliance requirements. Mixit has offices in New York and Chicago for more information visit www.mixitusa.com or sales@mixitusa.com. March 10, 2010 Ballista Securities, operator of the Ballista Alternative Trading System (ATS) for block options, announced today that Donald Martocchio has been appointed Global Head of Sales and Marketing. Mr. Martocchio will report directly to Mark Monahan, Ballista's CEO, and will start on March 22nd. Prior to his appointment at Ballista, Mr. Martocchio was Co-Head of Sales for the Global Equity Division at the Bear Stearns Companies, Inc. In this capacity, Mr. Martocchio worked on the integration and coordination of all client sales activities across the domestic and international cash equity, equity derivatives, portfolio trading, risk arbitrage, prime brokerage, and broker dealer/investment advisor services product areas. Also during Mr. Martocchio's 14-year tenure at Bear Stearns, he served as the Global Head of Sales for Structured Equity Products, helping to found the group. Furthermore, as a Principal of Morgan Stanley & Co., Inc.'s Synthetic Equity Group, Mr. Martocchio was responsible for designing and marketing of synthetic equity products in North America. "Don has a great track record for growing equity derivatives businesses," said Mark Monahan, Ballista's CEO. "We are very pleased to have Don leading our commercial efforts and continuing our impressive expansion." An anonymous, automated and rules-based options trading platform, the Ballista ATS offers traders standardization of order-entry for complex order types, user-defined trading filters to manage workflow, and advanced negotiation capability. On June 9 of 2009, Ballista Securities closed a funding round with strategic investors: International Securities Exchange, Knight Capital Group, Morgan Stanley and Susquehanna Growth Equity, LLP. Ballista, which received its FINRA membership in August 2008, began live trading on Ballista ATS on October 28, 2008. About Ballista Securities LLC Ballista Securities, operator of the Ballista Alternative Trading System, offers equity options traders an efficient, anonymous and reliable platform for delta-neutral strategies, complex transactions and block options trades. For more information, please contact Ballista Sales at 800-434-7552 or via email at sales@ballistasecurities.com. Media Contact: Vivid AscentDave Carlson 
March 04, 2010 Ballista Securities LLC, operator of the Ballista Alternative Trading System (ATS) for block options, announced today integration efforts have been completed with Bloomberg's Execution Management System (EMSX). Bloomberg EMSX users will be able to access the Ballista ATS immediately via the function EMSX <GO> on the BLOOMBERG PROFESSIONAL® service. Focused on equity options, the Ballista ATS reduces the time and manual effort required to execute block option and volatility orders by providing an electronic alternative to manual trading methods. "Bloomberg's EMSX is relied upon by institutional traders of all types and we are very pleased they are connecting to our ATS," said Mark Monahan, Ballista's Chief Executive, adding, "our integration with Bloomberg is another key validation of our model as we continue to automate the block equity options market." Bloomberg's Execution Management System, EMSX, is a sophisticated, broker-neutral equities, futures, and options trading tool that allows you to route seamlessly to nearly 2,000 broker-dealer destinations, including over 50 algorithmic suites. EMSX integrates news, indications, and real-time market and portfolio analytics into a customizable workspace so that you can monitor execution quality and improve trading decisions and performance. In addition to advanced options execution functionality, Bloomberg provides traders and portfolio managers with a complete view of the options market with real-time prices, volatility levels, Greeks, and alerting functionality. An anonymous, automated and rules-based options trading platform, Ballista ATS offers traders standardization of order-entry for complex order types, user-defined trading filters to manage workflow, and advanced negotiation capability. On June 9 of 2009, Ballista Securities closed a funding round with strategic investors: International Securities Exchange, Knight Capital Group, Morgan Stanley and Susquehanna Growth Equity, LLP. Ballista, which received its FINRA membership in August 2008, began live trading on Ballista ATS on October 28, 2008. About Ballista Securities LLC Ballista Securities, operator of the Ballista Alternative Trading System, offers equity options traders an efficient, anonymous and reliable platform for delta-neutral strategies, complex transactions and block options trades. For more information, please contact Ballista Sales at 800-434-7552 or via email at sales@ballistasecurities.com. Media Contact: Vivid AscentDrew Mauck
February 1st, 2010 Innovative Trading Features to Increase Trading Efficiency
Ballista Securities LLC, operator of the Ballista ATS for block options, announced they have completed the significant upgrade via Ballista v.2.0 trading platform. Based on traders' feedback, the v.2.0 is available now to provide even faster, more intuitive trading. The most significant improvements Ballista has made in this new release is to the New Trade Initiation Screen. "We are very excited to release Ballista v.2.0 as it is derived from thorough and insightful client feedback," said Dr. Daniel Marques, Ballista's CTO. He added, "We think Ballista v.2.0 will further our growing reputation as the fast, innovative and flexible solution for block options trading." New Key Initiation Screen Features
For complete list of new and upgraded features please contact Ballista Sales at 800-434-7552 or via email at sales@ballistasecurities.com. About Ballista Securities LLC Ballista Securities, operator of the Ballista Alternative Trading System, offers equity options traders an efficient, anonymous and reliable platform. This automated and rules-based options trading platform, Ballista ATS, offers standardization of order-entry for complex order types, user-defined trading filters to manage workflow, and advanced negotiation capability. In June 2009, Ballista Securities closed a funding round with strategic investors: International Securities Exchange, Knight Capital Group, Morgan Stanley and Susquehanna Growth Equity, LLP. Ballista, which received its FINRA membership in August 2008, began live trading on Ballista ATS on October 28, 2008. Media Contact: Vivid AscentDrew Mauck
December 21, 2009 Ballista Securities LLC, operator of the Ballista Alternative Trading System (ATS) for block options, volatility strategies and complex transactions, announced today that Mark Monahan has been appointed Chief Executive Officer. “We are very pleased to have Mark on board. His extensive experience in managing electronic brokerages and growing market share amongst institutional trading entities will help take Ballista to the next level,” said Robert Newhouse, Ballista co-founder, director and initial CEO. On his appointment, Mr. Monahan commented, “I’m very pleased to accept the position as Ballista’s CEO and am excited to build on the foundation established by Robert Newhouse and the Ballista team. I am committed to capitalizing on the growing number of connected users and the considerable pipeline of prospective customers.” Monahan assumes the CEO position after serving as the CEO of ICAP Electronic Brokerage for Asia Pacific. Prior to this position, Mr. Monahan was Global Head of Sales and Service for FX broker EBS Ltd. in London. Monahan added, “Robert Newhouse is an exceptional entrepreneur who has done an excellent job laying the foundation for Ballista’s continued growth and traction. He has assembled a terrific team, built a robust trading platform, and most importantly created an automated and fair solution for block options and volatility trading.” Newhouse remains with the company as a senior executive on the operating committee and a board member. “Mark Monahan’s appointment will allow me to return my focus to product development and the further evolution of the Ballista platform,” added Newhouse. Focused on equity options, Ballista ATS reduces the time and manual effort required to execute block option and volatility orders by providing an electronic alternative to the traditional manual trading methods of phone calls, emails and IMs. An anonymous, automated and rules-based options trading platform, Ballista ATS offers traders standardization of order-entry for complex order types, user-defined trading filters to manage workflow, and advanced negotiation capability. On June 9 of 2009, Ballista Securities closed a funding round with strategic investors International Securities Exchange, Knight Capital Group, Morgan Stanley and Susquehanna Growth Equity, LLLP. Ballista, which received its FINRA membership in August 2008, began live trading on Ballista ATS on October 28, 2008. About Ballista Securities LLC Ballista Securities, operator of the Ballista Alternative Trading System, offers equity options traders an efficient, anonymous and reliable platform for delta-neutral strategies, complex transactions and block options trades. For more information, please contact Ballista Sales at 800-434-7552 or via email at sales@ballistasecurities.com. Media Contact: Vivid AscentDrew Mauck Dave Carlson
June 09, 2009 Investors Represent a Cross-Section of Investment Bank, Market-Making, Electronic Trading and Exchange Leaders
Ballista Holdings today announced that it received a minority investment from leading securities industry firms International Securities Exchange (ISE), Knight Capital Group, Morgan Stanley, Susquehanna Growth Equity, LLLP (SGE), and existing investors, including Metropolitan Equity Partners. Ballista Holdings is the owner of Ballista Securities LLC, operator of the Ballista Alternative Trading System (Ballista ATS) for block trading of options, delta-neutral strategies and other complex options transactions. The investment will be used to support continued technology innovation, enhanced client service and a more aggressive sales and marketing effort to further develop its liquidity pool. ”Ballista ATS has experienced consistent growth since our launch in late 2008,” said Robert Newhouse, founder and CEO of Ballista Securities. ”The investment from such a distinguished and diverse group of industry leaders will provide Ballista a strong base of strategic resources in the quest to become the premier destination for institutional block trading of equity options and volatility.” As part of the investment, one representative from each of the four new investors will join the Company’s Board. ”We are honored to welcome these new members to the Board. The cumulative experience and strategic guidance offered by our investors will be an important aspect to the widespread adoption of Ballista ATS,” added Newhouse. Focused on equity options, Ballista ATS seeks to reduce the time and manual effort required to execute block option and volatility orders with an electronic alternative to the traditional institutional trading methods of phone calls, emails and IMs. An anonymous, automated and rules-based options trading platform, Ballista ATS offers traders standardization of order-entry for complex order types, user-defined trading filters to manage workflow, and advanced negotiation capability via its Reactive Auction Process (RAP™). Ballista ATS’s functionality caters to the idiosyncratic nature of price/size discovery in this complex marketplace, and may be integrated into existing order management systems (OMS) to allow risk managers to monitor their firms’ trading activity and settlement of trades in real time. Ballista Securities received its FINRA membership in August 2008. Ballista ATS began live trading on October 28, 2008, with aggregate volume surpassing one million contracts traded in March 2009. Blank Rome LLP served as legal counsel for Ballista Holdings and Morgan, Lewis & Bockius LLP acted as lead counsel for the investors. About International Securities Exchange The International Securities Exchange (ISE) operates the world’s largest equity options exchange and offers options trading on over 2,000 underlying equity, ETF, index, and FX products. As the first all-electronic options exchange in the U.S., ISE transformed the options industry by creating efficient markets through innovative market structure and technology. Regulated by the Securities and Exchange Commission (SEC) and a member-owner of The Options Clearing Corporation (OCC), ISE provides investors with a transparent marketplace for price and liquidity discovery on centrally cleared options products. ISE continues to expand its marketplace through the ongoing development of enhanced trading functionality, new products, and market data services. As a complement to its options business, ISE has expanded its reach into multiple asset classes through strategic investments in financial marketplaces that foster technology innovation and market efficiency. Through minority investments, ISE participates in the securities lending and equities markets ISE is a wholly owned subsidiary of Eurex, a leading global derivatives exchange. Eurex itself is jointly owned by Deutsche Börse AG (Ticker: DB1) and SIX Swiss Exchange AG. Together, Eurex and ISE are the global market leader in individual equity and equity index derivatives. For more information, visit www.ise.com. About Knight Capital Group, Inc. Knight Capital Group, Inc. (Nasdaq: NITE) is a leading financial services firm that provides electronic and voice access to the global capital markets across multiple asset classes for buy-side, sell-side and corporate clients. In Global Markets, we provide market access and trade execution services in nearly every U.S. equity security and a large number of global equities and fixed income, foreign exchange, futures and options. Our Corporate segment invests in strategic, financial services-oriented opportunities, allocates, deploys and monitors all capital and maintains all corporate overhead expenses. More information about Knight can be found at www.knight.com. About Morgan Stanley Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 36 countries. For further information about Morgan Stanley, please visit www.morganstanley.com. About Susquehanna Growth Equity, LLLP Susquehanna Growth Equity, LLLP (SGE) is a private equity group investing in growth capital and buyout opportunities in financial technology, information services, and software. SGE’s team of dedicated investment professionals brings a unique set of experience combining venture investing with operational expertise. SGE is an affiliate of Susquehanna International Group, LLP, a privately held, global financial institution specializing in trading and market making. SIG includes affiliated entities specializing in institutional sales and trading, research, investment banking, private equity, and venture capital. SIG employs approximately 1,500 individuals located in North America, Europe, Asia, and Australia. For additional information please visit www.sgep.com. About Ballista Securities LLC Ballista Securities, a privately held company conceived in early 2007, is dedicated to advancing the execution of institutional options trading, specifically delta-neutral strategies, complex transactions and directional option trades. The Ballista Alternative Trading System (ATS) offers institutional equity options traders a level playing field for the execution of these types of trades. With an innovative, two-phase auction and negotiation functionality, the goal of Ballista ATS is to offer liquidity seekers unprecedented efficiency and a direct communication link to liquidity providers. Ballista offers specialty order types to help limit information leakage, while at the same time tapping into deep liquidity through a pool of vetted manual and electronic liquidity providers. Users may use the Ballista ATS through multiple execution pathways, including Ballista’s own intuitive front-end trading platform; a FIX-based interface supporting programmatic order flow; or a variety of OMS, EMS, and DMA platforms. For more information, please contact Ballista Sales at 800-434-7552 or via email at sales@ballistasecurities.com. Media Contact
November 10, 2008 Ballista Securities, operator of the new Ballista ATS for block options and delta neutral orders, announced today that live trading on its platform began on October 27, 2008. The Ballista ATS launches with an initial client base of hedge funds, proprietary trading firms, market makers and other liquidity providers, with plans to expand rapidly, adding customers and liquidity to the platform. “The start of trading on Ballista is the result of more than a year of intense effort, made possible by our incredibly talented and dedicated team, as well as members of both the buy-side and sell-side communities who aided us in our development,” said Robert Newhouse, CEO of Ballista. "We believe our ATS status accurately reflects our offering – a neutral venue designed to evolve the institutional options trading experience.” Ballista offers anonymous, electronic access to qualified buy-side initiators and sell-side liquidity providers that trade in large block sizes. As an ATS, Ballista seeks to provide an alternative to the traditional inefficient, manual liquidity sourcing methods of phone calls, emails and instant messages. Trades matched on Ballista initially are being executed at either the International Securities Exchange (ISE) or the Chicago Board Options Exchange (CBOE). “We have been very pleased by the reactions of the options exchanges, especially the ISE and the CBOE, each of whom has been very receptive to our needs and those of our customers,” said Keith Landsberg, Executive Vice President for Business Development at Ballista and former Vice President of Options at the American Stock Exchange. “We are pleased to see them offer the electronic crossing mechanisms that make us a powerful ally in the fight to bring more listed options volume back to the exchanges.” How Ballista Works Ballista offers a rules-based forum for matching buyers and sellers of block-sized directional option and volatility/delta-neutral orders. A Ballista user seeking liquidity may submit an order hosted for a timed auction of up to five minutes, whereby any unexecuted liquidity at the end of the auction phase will result in a direct negotiation between counterparties, while preserving anonymity. ABOUT BALLISTA SECURITIES Ballista Securities, a privately held venture conceived in early 2007, is dedicated to advancing the execution of institutional options trading, specifically delta-neutral strategies, complex transactions and block trades. For more information, please visit www.ballistasecurities.com or contact Ballista Sales at 800-434-7552 or via email at sales@ballistasecurities.com. Media Contact
August 18, 2008 Ballista Securities today announced that it has received FINRA membership approval, allowing full trading operations to begin. With this designation, Ballista will soon launch the first electronic liquidity pool for block options and delta neutral trading, aggregating fragmented options liquidity for the improved execution of large trades and complex strategies. Ballista expects trading to begin next month. Myriad factors contribute to the options market’s fragmentation, including the continued growth of the hedge fund industry, increased utilization of option strategies, new exchanges and growing amounts of passive, off-exchange liquidity. Additionally, regulatory changes such as the SEC-mandated penny pilot program have further complicated the task of sourcing sufficient options liquidity for institutional traders. “With this approval, Ballista Securities will offer traders the ability to quickly and easily tap into multiple sources of liquidity through our platform, vastly improving the execution of delta-neutral strategies and block trades,” said Robert Newhouse, CEO of Ballista. "Ballista alleviates options market inefficiencies such as information leakage, lengthy execution times and manual processes with an anonymous, secure and time-efficient solution.” Ballista gives traders anonymous, electronic access to both “public” liquidity found on exchanges and “non-public” liquidity offered by banks, vetted market makers and hedge funds. How Ballista Works When a trade request enters the Ballista platform, it is placed in an open electronic auction for up to five minutes, during which time other Ballista participants (i.e., market makers, banks and hedge funds) may offer liquidity to the advertised trade. Should the auction period end without the trade being fully satisfied, the “initiator” and best-priced liquidity provider are placed into a private electronic negotiation room allowing for direct, normalized negotiation between the two parties. Ballista is available as a software-based trading platform or via a FIX-based interface. ABOUT BALLISTA SECURITIES Ballista Securities, a privately held venture conceived in early 2007, is dedicated to advancing the execution of institutional options trading, specifically delta-neutral strategies, complex transactions and block trades. For more information, please visit www.ballistasecurities.com or contact Ballista Sales at 800-434-7552 or via email at sales@ballistasecurities.com. Media Contact
Monday, April 21, 2008, 2:06pm EDT Ballista today announced the availability of the first-ever equity options liquidity pool for block trades and delta-neutral/complex transactions, offering electronic access to public and non-public liquidity. The company will offer demos of the new platform at the 26th Annual Options Industry Conference being held May 1-3 in Las Vegas (Booth B-120). Ballista, which has successfully completed multiple proof-of-concept trades, expects to launch as early as May 2008 via a private broker/dealer, pending regulatory approval. "The growth of the options industry has been nothing short of phenomenal," said Robert Newhouse, CEO of Ballista. “The proliferation of option strategy utilization, the introduction of new options exchanges and changes to regulations have resulted in a highly fragmented market. We believe Ballista’s ability to aggregate public and non-public liquidity via a single electronic platform built for block trades and delta-neutral/complex transactions, will significantly enhance liquidity sourcing efforts throughout the options community.” The Ballista platform offers traders searching for liquidity the ability to communicate directly with counterparties, allowing for direct and instantaneous access to one another. Ballista’s strength rests in its ability to aggregate both “public” liquidity found on exchanges and “non-public” liquidity, the passive liquidity offered by market-makers, banks and hedge funds. Also unique to Ballista is a proprietary negotiation process between trade “initiators” and “contras” that follows Ballista’s auction phase. During this post-auction process, the initiator and best-price contra are placed into a private facility for continued anonymous negotiation of both price and size parameters. Ballista seeks to deliver the following value propositions to institutional options traders: 1. Liquidity Aggregation — Offers simultaneous access to both public markets and passive liquidity. 2. Superior Efficiency — Provides direct electronic initiator/contra communication, eliminating the need for IM and phone communications. 3. Multiple Strategies — Supports block trades, delta-neutral transactions, spreads and multi-leg complex orders. 4. Specialty Order Types — Enables both “Auction” orders with complete exclusivity or “Hidden” orders that conceal the initiator’s intent. 5. Complete Anonymity — Hides user identity from all counterparties. 6. Vetted Participants — Ensures a trading community of qualified Buy-Side initiators and Sell-Side liquidity providers that organically trade in large block sizes. Ballista’s execution capabilities are available as a stand-alone, software-based trading platform, or via a FIX-based interface. ABOUT BALLISTA Ballista, a privately held venture conceived in early 2007, is dedicated to advancing the execution of institutional derivative trading in both block trades and delta-neutral/complex transactions. The Ballista platform will come to market in June through a new broker/dealer entity that is currently pending FINRA approval. For more information, please contact Ballista Sales at 800-434-7552 or via email at sales@ballistasecurities.com. |
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System response and access times may vary due to market conditions, system performance, and other factors. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options (PDF)
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