Equitec Forms Alliance With Cole Roesler, The Pacific Exchange's Lead Market Maker in Microsoft Options

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

    TUCSON, Ariz., April 26 /PRNewswire/ -- Equitec Proprietary Markets, LLC,
 a merger of intellectual capital and proprietary trading technology, announced
 today at the Options Industry Conference an agreement with Cole Roesler
 Trading Group of The Pacific Exchange (PCX).  The new entity, which will carry
 on Cole Roesler's activities as Lead Market Maker (LMM) in Microsoft and 60
 other option classes, will be called Equitec-Cole Roesler, LLC.
     In a release earlier today, Equitec announced its formation, bringing
 together seven leading market maker and specialist organizations to offer
 customers the most efficient price discovery and execution solutions.
     "The principals of Cole Roesler bring recognized leadership from both on
 and off the PCX floor.  We are very excited about the opportunities this
 alliance creates," said Equitec CEO Steve Tumen.
     "This is a natural fit for Equitec," Tumen added.  "We are able to create
 incremental enterprise value for our partners by contributing technology,
 capital, infrastructure and dispersion trading experience.  In return, we are
 building a network of extraordinarily skilled specialists who are all
 recognized leaders in the names in which they make markets."
     With the addition of Cole Roesler's LMM books, Equitec affiliates now make
 primary markets in more than 145 option classes in equities, structured
 products and exchange traded funds (ETFs) on the floors of the Chicago Board
 Options Exchange (CBOE) and PCX.  The equities underlying these options
 comprise 19 percent of the market capitalization of the Dow Jones Industrial
 Average, 10 percent of the Standard & Poors' 500 Index and 13 percent of the
 Nasdaq 100 Index.
     "We're very excited about the opportunity to join forces with Equitec,"
 said Cole Roesler Managing Principal Paul Roesler.  "This alliance brings
 together an impressive combination of products, capital, technology and highly
 skilled specialists."
     Headquartered in Chicago, Equitec is merging the liquidity of the floor
 with the efficient price discovery and execution of the electronic trading
 environment to deliver market participants the best possible price.
     In addition to Equitec-Cole Roesler, other Equitec Group affiliates
 include:
 
     * Equitec Proprietary Markets, LLC, which conducts proprietary trading
       formerly under the name LaRocque Trading Group and continues its history
       of performance serving Chicago's index and equity derivatives markets.
 
     * Equitec-Schwartz, LLC, formerly Schwartz Trading Group, DPM in 21 CBOE
       options classes including Coca Cola, BankAmerica Corporation, Proctor &
       Gamble and Tyco.
 
     * Equitec-Brown, LLC, formerly Brown Trading Group, DPM in 26 CBOE options
       classes including Wal-Mart, Costco and The Limited.
 
     * Equitec-Furman, LLC, formerly Furman Trading Group, DPM in 14 CBOE
       options classes including GlaxoSmithKline, PG&E Corporation and Edison
       International.
 
     * Equitec Structured Products, LLC, formerly LIR, DPM in 25 CBOE products
       including interest rate options and various structured products issued
       by Merrill Lynch and Salomon Smith Barney.
 
     * Equitec Specialists, LLC., formerly LCS, LaRocque's specialist operation
       on the Chicago Stock Exchange and Philadelphia Stock Exchange.
 
     * Equitec U.K. Ltd. market making in European equities and options.
 
     About Equitec Group
     Equitec is a global proprietary trading group 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.  Equitec affiliates
 are specialists in more than 150 equity and derivative classes including
 Microsoft, Wal-Mart, Coca Cola, BankAmerica, Tyco, Alcoa, Boeing, JDS
 Uniphase, Lucent Technologies, Home Depot, Haliburton and GlaxoSmithKline.
     The Company's team of 180 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.
 
     About Cole Roesler Trading Group L.P.
     Founded in 1994 and headquartered in San Francisco, Cole Roesler Trading
 Group (CR Trading) is a nationally recognized trading firm.  Including its
 activities with Equitec, CR Trading has derivative trading operations covering
 over 400 option issues on the PCX and the International Securities Exchange
 (ISE).  CR Trading also operates a convertible bond hedge fund in San
 Francisco.
 
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SOURCE Equitec Proprietary Markets, LLC
    TUCSON, Ariz., April 26 /PRNewswire/ -- Equitec Proprietary Markets, LLC,
 a merger of intellectual capital and proprietary trading technology, announced
 today at the Options Industry Conference an agreement with Cole Roesler
 Trading Group of The Pacific Exchange (PCX).  The new entity, which will carry
 on Cole Roesler's activities as Lead Market Maker (LMM) in Microsoft and 60
 other option classes, will be called Equitec-Cole Roesler, LLC.
     In a release earlier today, Equitec announced its formation, bringing
 together seven leading market maker and specialist organizations to offer
 customers the most efficient price discovery and execution solutions.
     "The principals of Cole Roesler bring recognized leadership from both on
 and off the PCX floor.  We are very excited about the opportunities this
 alliance creates," said Equitec CEO Steve Tumen.
     "This is a natural fit for Equitec," Tumen added.  "We are able to create
 incremental enterprise value for our partners by contributing technology,
 capital, infrastructure and dispersion trading experience.  In return, we are
 building a network of extraordinarily skilled specialists who are all
 recognized leaders in the names in which they make markets."
     With the addition of Cole Roesler's LMM books, Equitec affiliates now make
 primary markets in more than 145 option classes in equities, structured
 products and exchange traded funds (ETFs) on the floors of the Chicago Board
 Options Exchange (CBOE) and PCX.  The equities underlying these options
 comprise 19 percent of the market capitalization of the Dow Jones Industrial
 Average, 10 percent of the Standard & Poors' 500 Index and 13 percent of the
 Nasdaq 100 Index.
     "We're very excited about the opportunity to join forces with Equitec,"
 said Cole Roesler Managing Principal Paul Roesler.  "This alliance brings
 together an impressive combination of products, capital, technology and highly
 skilled specialists."
     Headquartered in Chicago, Equitec is merging the liquidity of the floor
 with the efficient price discovery and execution of the electronic trading
 environment to deliver market participants the best possible price.
     In addition to Equitec-Cole Roesler, other Equitec Group affiliates
 include:
 
     * Equitec Proprietary Markets, LLC, which conducts proprietary trading
       formerly under the name LaRocque Trading Group and continues its history
       of performance serving Chicago's index and equity derivatives markets.
 
     * Equitec-Schwartz, LLC, formerly Schwartz Trading Group, DPM in 21 CBOE
       options classes including Coca Cola, BankAmerica Corporation, Proctor &
       Gamble and Tyco.
 
     * Equitec-Brown, LLC, formerly Brown Trading Group, DPM in 26 CBOE options
       classes including Wal-Mart, Costco and The Limited.
 
     * Equitec-Furman, LLC, formerly Furman Trading Group, DPM in 14 CBOE
       options classes including GlaxoSmithKline, PG&E Corporation and Edison
       International.
 
     * Equitec Structured Products, LLC, formerly LIR, DPM in 25 CBOE products
       including interest rate options and various structured products issued
       by Merrill Lynch and Salomon Smith Barney.
 
     * Equitec Specialists, LLC., formerly LCS, LaRocque's specialist operation
       on the Chicago Stock Exchange and Philadelphia Stock Exchange.
 
     * Equitec U.K. Ltd. market making in European equities and options.
 
     About Equitec Group
     Equitec is a global proprietary trading group 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.  Equitec affiliates
 are specialists in more than 150 equity and derivative classes including
 Microsoft, Wal-Mart, Coca Cola, BankAmerica, Tyco, Alcoa, Boeing, JDS
 Uniphase, Lucent Technologies, Home Depot, Haliburton and GlaxoSmithKline.
     The Company's team of 180 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.
 
     About Cole Roesler Trading Group L.P.
     Founded in 1994 and headquartered in San Francisco, Cole Roesler Trading
 Group (CR Trading) is a nationally recognized trading firm.  Including its
 activities with Equitec, CR Trading has derivative trading operations covering
 over 400 option issues on the PCX and the International Securities Exchange
 (ISE).  CR Trading also operates a convertible bond hedge fund in San
 Francisco.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X41763157
 
 SOURCE  Equitec Proprietary Markets, LLC