Portfolio Trading Team Joins Pulse

Pulse Trading, Inc., an electronic broker for institutional investors, announced today that it has hired a team of three traders to start a portfolio trading group. The new service, known as PulsePTG, represents a major expansion of Pulse's trading capabilities.

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Pulse Trading, Inc., an electronic broker for institutional investors, announced today that it has hired a team of three traders to start a portfolio trading group. The new service, known as PulsePTG, represents a major expansion of Pulse’s trading capabilities.

Portfolio trading, also known as program trading and basket trading, is a computer-guided methodology for trading lists of different securities, and is practiced by many institutional money managers.

The PulsePTG team consists of M. James (Jim) Willsey, Executive Vice President and Director, who, together with Alexander (Alex) M. Bonello, Senior Vice President and Head Trader, will be based in New York; and Richard (Rick) Holway, Executive Vice President and Director, Sales & Marketing, located in Boston.

Willsey has an extensive program trading background, starting with CS First Boston in 1991, and including subsequent assignments at D.E. Shaw & Co., Bear Stearns and JP Morgan. Most recently, he and Bonello were on the program trading desk at Knight Securities, L.P., a subsidiary of Knight Trading Group, Inc. Holway was the founder and principal of Harborside+, a securities firm formed in 1998 to specialize in block-trading, and director of trading at Investment Advisers, Inc. from 1990 to 1998.

“The PulsePTG team is going to be one of the best in the portfolio trading business, commented Mark Enriquez, Chairman of Pulse Trading. “Their skills complement one another superbly, and together they give Pulse a portfolio trading capability that will be difficult to match.”

Added Michael P. McCauley, President, “Pulse’s new portfolio trading group will fit squarely into Pulse’s expanding range of electronic trading services, providing our institutional clients with the benefits of soundly-based list strategies and trading methods driven by the best technology available.”

Pulse Trading, with headquarters in Boston and branch offices in Chicago, New York and San Francisco, pioneered the development of unbiased electronic trading for institutional investors.

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