tZERO, the global leader in blockchain innovation for capital markets, announced today that its broker-dealer subsidiary, SpeedRoute, which is a leader in U.S. equity order routing and market structure, reported its strongest month in the history of the company. The total monthly trading volume for March 2020 was nearly three times that of March 2019, and this resulted in a 218% increase in revenues compared to the prior period. Despite this significant increase in volume, SpeedRoute’s system had 100% system uptime.
SpeedRoute President Alex Vlastakis stated, “With the markets in flux, now is the time where robustness of technology becomes a true competitive differentiator. Our top priority continues to be to provide broker-dealers with the ability to navigate the U.S. equity markets, both intelligently and cost-effectively. We are thankful for the confidence that our clients have placed in us and for our SpeedRoute team in ensuring that our products and services remain fully functional.”
tZERO CEO Saum Noursalehi shared, “SpeedRoute handled trading billions of shares in March, significantly exceeding every volume target to date. The company’s impressive performance showcases the scalability of its technology, which is also leveraged by the tZERO ATS for the trading of digital securities.”
Launched in 2010, SpeedRoute provides market access and smart order routing services for U.S. equities to broker-dealer clients. SpeedRoute’s affiliate broker-dealer, tZERO ATS, manages an alternative trading system that trades digital securities.
tZERO is a technology firm that was founded with the goal of utilizing distributed ledger and smart contract technology to revolutionize Wall Street so that it is more efficient, accessible and transparent. tZERO is a keiretsu company of Medici Ventures, the blockchain subsidiary of Overstock.com, Inc. (NASDAQ:OSTK).
Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single security could mean lack of diversification and, consequently, higher risk.
Digital securities reference the blockchain technology elements that are intended to enhance investor experience through added transparency to conventional uncertificated securities.
No Offer, Solicitation, Investment Advice or Recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by the SpeedRoute or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible correction. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances. Past performance does not guarantee future performance and no inferences should be drawn to that end.
tZERO Group, Inc. (“tZERO“) is a majority-owned subsidiary of Overstock.com, focusing on the development and commercialization of financial technology (FinTech) based on cryptographically-secured, decentralized ledgers – more commonly known as blockchain technologies. Since its inception, tZERO has pioneered the effort to bring greater efficiency and transparency to capital markets through the integration of blockchain technology. For more information on tZERO, please visit: https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal, underwriter, investment bank, investment adviser or investment manager, and is not providing brokerage, investment banking or underwriting services, recommendations or investment advice to any person, and does not provide any brokerage services. tZERO takes no part in the negotiation or execution of secondary market transactions for the purchase or sale of securities and at no time has possession of investor funds or securities in connection with such transactions.
SpeedRoute, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. More information about SpeedRoute may be found at www.finra.org.
About tZERO ATS
tZERO ATS, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. More information about tZERO ATS may be found at www.finra.org.