Equitec, a Global Proprietary Trading Firm, Announces Its Launch at The Options Industry Conference

Four Major Equity/Options Firms Combine With LaRocque Trading to Conduct

Business Under Equitec Brand and Business Model



Apr 26, 2001, 01:00 ET from Equitec Proprietary Markets, LLC

    TUCSON, Ariz., April 26 /PRNewswire/ -- Equitec Proprietary Markets, LLC,
 a combination of intellectual capital and proprietary trading technology,
 today announced its launch at the Options Industry Conference in Tucson,
 Arizona.
     Equitec brings together seven leading market maker and specialist
 organizations to offer customers the most efficient price discovery and
 execution solutions.  Equitec consists of LaRocque Trading Group, LLC, its
 subsidiary companies and its four Chicago Board Option Exchange (CBOE)
 designated primary market makers (DPM) partners -- Schwartz Trading Group,
 LLC, Brown Trading Group, LLC, Furman Trading Group, LLC, and LIR, LLC.
     "Equitec is merging the liquidity of the floor with the efficient price
 discovery and execution of the electronic trading environment, to ensure that
 we deliver the best possible price to market participants," said Steve Tumen,
 Equitec chief executive officer.  "People who understand our business
 appreciate the tremendous advantages and opportunities that can be created by
 placing our suite of tools in the hands of a sophisticated trader."
     The four CBOE DPM trading firms are collectively specialists in 86 issues.
 In addition, Equitec Proprietary Markets provides liquidity in 250 other
 index, equity and structured option products.
     "The market is moving in the direction we anticipated seven years ago when
 we began developing our proprietary trading applications.  Now, we find
 ourselves in the fortunate position of having a business model and tools that
 attract sophisticated traders who share our vision," said John LaRocque,
 co-chairman of Equitec.
     Equitec's co-chairmen Dan Asher and John LaRocque, both pioneers in the
 listed options business, founded LaRocque Trading Group in 1994. During the
 last 20 months, LaRocque has grown from 40 to more than 165 professionals,
 which includes more than 80 market makers in equity, interest rate and index
 products, who are complemented by an additional 12 traders at the four DPM
 posts.
     "We've succeeded in attracting substantial intellectual capital to our
 organization," Tumen said.  "The next phase of our growth will be best
 supported by a recognizable brand name.  Consolidating our businesses under
 the Equitec name will enable the exchange community to recognize the strength
 and breadth of our organization."
 
      -- Proprietary trading, formerly under LaRocque Trading Group, which has
         an extensive history of performance in serving Chicago's index and
         equity derivatives markets, will now be under the name Equitec
         Proprietary Markets, LLC.
 
      -- Schwartz Trading Group, DPM in 21 CBOE option classes including Coca
         Cola, BankAmerica Corporation, Proctor & Gamble and Tyco, will become
         Equitec-Schwartz, LLC.
 
      -- Brown Trading Group, DPM in 26 CBOE option classes including Wal-Mart,
         Costco and The Limited, will become Equitec-Brown, LLC.
 
      -- Furman Trading Group, DPM in 14 CBOE option classes including
         GlaxoSmithKline, PG&E Corporation and Edison International, will
         become Equitec-Furman, LLC.
 
      -- LIR, DPM in 25 CBOE products including interest rate options and
         various structured products issued by Merrill Lynch and Salomon Smith
         Barney, will become Equitec Structured Products, LLC.
 
      -- LCS, LaRocque's specialist operation on the Chicago Stock Exchange and
         Philadelphia Stock Exchange, will become Equitec Specialists, LLC.
 
      -- Market making in European equities and options will take place within
         Equitec U.K., Ltd.
 
     About Equitec Group
     Equitec is a proprietary trading firm with market making and specialist
 operations on eight domestic exchanges, as well as a U.K. subsidiary that
 trades on electronic exchanges throughout Europe.  The company is
 headquartered in Chicago, with offices in New York, San Francisco,
 Philadelphia and London.
     Equitec trades primary and derivative instruments in a wide variety of
 equity, index, financial and structured products, using a combination of
 traditional and proprietary cross-hedging methodologies.  The Company's team
 of 165 professionals includes an IT staff of developers and network operations
 personnel to support the growth of its quoting, position management, database
 and communications systems.  Equitec has developed and owns a preponderance of
 the enabling tools used by its partners, position managers and traders.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X56326176
 
 

SOURCE Equitec Proprietary Markets, LLC
    TUCSON, Ariz., April 26 /PRNewswire/ -- Equitec Proprietary Markets, LLC,
 a combination of intellectual capital and proprietary trading technology,
 today announced its launch at the Options Industry Conference in Tucson,
 Arizona.
     Equitec brings together seven leading market maker and specialist
 organizations to offer customers the most efficient price discovery and
 execution solutions.  Equitec consists of LaRocque Trading Group, LLC, its
 subsidiary companies and its four Chicago Board Option Exchange (CBOE)
 designated primary market makers (DPM) partners -- Schwartz Trading Group,
 LLC, Brown Trading Group, LLC, Furman Trading Group, LLC, and LIR, LLC.
     "Equitec is merging the liquidity of the floor with the efficient price
 discovery and execution of the electronic trading environment, to ensure that
 we deliver the best possible price to market participants," said Steve Tumen,
 Equitec chief executive officer.  "People who understand our business
 appreciate the tremendous advantages and opportunities that can be created by
 placing our suite of tools in the hands of a sophisticated trader."
     The four CBOE DPM trading firms are collectively specialists in 86 issues.
 In addition, Equitec Proprietary Markets provides liquidity in 250 other
 index, equity and structured option products.
     "The market is moving in the direction we anticipated seven years ago when
 we began developing our proprietary trading applications.  Now, we find
 ourselves in the fortunate position of having a business model and tools that
 attract sophisticated traders who share our vision," said John LaRocque,
 co-chairman of Equitec.
     Equitec's co-chairmen Dan Asher and John LaRocque, both pioneers in the
 listed options business, founded LaRocque Trading Group in 1994. During the
 last 20 months, LaRocque has grown from 40 to more than 165 professionals,
 which includes more than 80 market makers in equity, interest rate and index
 products, who are complemented by an additional 12 traders at the four DPM
 posts.
     "We've succeeded in attracting substantial intellectual capital to our
 organization," Tumen said.  "The next phase of our growth will be best
 supported by a recognizable brand name.  Consolidating our businesses under
 the Equitec name will enable the exchange community to recognize the strength
 and breadth of our organization."
 
      -- Proprietary trading, formerly under LaRocque Trading Group, which has
         an extensive history of performance in serving Chicago's index and
         equity derivatives markets, will now be under the name Equitec
         Proprietary Markets, LLC.
 
      -- Schwartz Trading Group, DPM in 21 CBOE option classes including Coca
         Cola, BankAmerica Corporation, Proctor & Gamble and Tyco, will become
         Equitec-Schwartz, LLC.
 
      -- Brown Trading Group, DPM in 26 CBOE option classes including Wal-Mart,
         Costco and The Limited, will become Equitec-Brown, LLC.
 
      -- Furman Trading Group, DPM in 14 CBOE option classes including
         GlaxoSmithKline, PG&E Corporation and Edison International, will
         become Equitec-Furman, LLC.
 
      -- LIR, DPM in 25 CBOE products including interest rate options and
         various structured products issued by Merrill Lynch and Salomon Smith
         Barney, will become Equitec Structured Products, LLC.
 
      -- LCS, LaRocque's specialist operation on the Chicago Stock Exchange and
         Philadelphia Stock Exchange, will become Equitec Specialists, LLC.
 
      -- Market making in European equities and options will take place within
         Equitec U.K., Ltd.
 
     About Equitec Group
     Equitec is a proprietary trading firm with market making and specialist
 operations on eight domestic exchanges, as well as a U.K. subsidiary that
 trades on electronic exchanges throughout Europe.  The company is
 headquartered in Chicago, with offices in New York, San Francisco,
 Philadelphia and London.
     Equitec trades primary and derivative instruments in a wide variety of
 equity, index, financial and structured products, using a combination of
 traditional and proprietary cross-hedging methodologies.  The Company's team
 of 165 professionals includes an IT staff of developers and network operations
 personnel to support the growth of its quoting, position management, database
 and communications systems.  Equitec has developed and owns a preponderance of
 the enabling tools used by its partners, position managers and traders.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X56326176
 
 SOURCE  Equitec Proprietary Markets, LLC