Spooz (PK) (USOTC:SPZI)
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From May 2019 to May 2024
Spooz Technologies, Inc., a wholly owned subsidiary of Spooz, Inc. (Pink
Sheets:SPZI) and SFB Market Systems, Inc. (SFB) a privately owned
corporation are pleased to announce they have entered into a Letter of
Intent to launch the Symbol Management Clearing Corporation (SMCC). The
goal of SMCC is to incorporate the advanced technologies provided by
Spooz into the expansion of SFB’s products and
services known as Symbol Manager™ and Symbol
Master® for the purpose of regulating
global symbology management.
SMCC will provide the trading industry with a seamless interface for
access into its centralized repository servers, thus increasing
efficiency and accuracy within the exchanges and firms. SFB has solved
the problem of decentralization with its proprietary products, Symbol
Manager™ and Symbol Master®,
which currently provide information and services that are held to the
highest standards to options exchanges and market participants. The new
joint venture plans are to expand current SFB services to the entire
trading industry.
Spooz and the SMCC will provide brokers, exchanges, and clearing firms
with a flexible and robust platform from which to request new symbols
for trading products. This will also allow for the creation of synthetic
products to which new symbols may be assigned, such as spreads, baskets,
and combinations. The new electronic system will replace the antiquated
manual processes and is expected to save the exchanges and the industry
millions of dollars.
“We are excited with the opportunity presented
to Spooz by SFB Market Systems and the joint venture plan,”
said Paul D. Strickland, the Spooz CEO. “We
are confident that SMCC will become the largest and most reliable source
for accurate trading information bringing tremendous value to our
shareholders and market participants”.
“SFB looks forward to working with Spooz and
its innovative team to jointly provide the financial industry with the
most advanced integrated systems and technology tools for the
centralization of symbology management. This will ensure the best and
quickest execution possible in trade clearing,”
said Lee Clifford, CEO of SFB Market Systems.
About Spooz, Inc.
Spooz, Inc. is an independent software vendor developing revolutionary
trading solutions for active and professional electronic traders.
Spooz's suite of technology products provide the most versatile
configuration of trading screens, analysis screens and automated trading
systems in a fast growth financial marketplace.
Spooz is a trading solutions company focused on next generation traders.
SpoozToolz™, AlgoServer™,
SpoozChartz™, Spooz AutoSpreader™,
ToolzKit™ and Spooz CPM™,
the Company's flagship products enable any trader to quickly and
efficiently bridge the gap between concept and execution. The value of
the SpoozToolz platform is that it allows any trader to create trading
applications that retain flexibility and customizability, are simple to
use, and facilitate bringing trader’s ideas
to production before opportunity for profit is lost.
About SFB Market Systems, Inc.
Founded in 1994, SFB has been the industry expert in options symbology
for over 14 years and has provided the options exchanges with both
technology solutions and data management services. SFB currently manages
all option symbology traded in the U.S. through its proprietary software
known as Symbol Manager™ and Symbol
Master®. Symbol Manager which is used by
the options exchanges to manage and generate options series data is
integrated with Symbol Master®, also
used by the exchanges and market participants as the centralized
repository for options symbology and reference data.
SFB is dedicated to servicing the financial industry with the management
and distribution of the most accurate, reliable and up-to-the-minute
symbology information. In addition, SFB works to provide support to the
Options Symbology Initiative.
Forward Looking Statements
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities Act of
1933 and the Securities Exchange Act of 1934, as amended by the Private
Securities Litigation Reform Act of Forward-Looking Statements: This
news release may contain forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. These statements
present management's expectations, beliefs, plans and objectives
regarding future financial performance, and assumptions or judgments
concerning such performance. Any discussions contained in this release,
except to the extent that they contain historical facts, are
forward-looking and accordingly involve estimates, assumptions,
judgments and uncertainties. There are a number of factors that could
cause actual results or outcomes to differ materially from those
addressed in the forward-looking statements.