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Fortex > Company
Evolution
Always Keeping Customers in the
Forefront As
electronic trading emerged in the late 1990s, so did new opportunities
for entrepreneurs with the right combination of computer science
and Wall Street experience. Founded and funded by two award-winning
computer science graduates of New York University, the predecessor
of Fortex, Inc. was incorporated in 1998 as Millennium Exchange
(MX). The MX product was an immediate success among a select
group of Wall Street companies and their traders. By eliminating
trading intermediaries, MX enabled traders to electronically
and automatically match buy and sell orders on all exchanges
and electronic communication networks (ECNs).
The company was sold to an investment syndicate in 1999.
The co-founders then based their next venture in Silicon Valley,
where they could take advantage of the Valley’s culture
of innovation, leading engineering talent, and technology
advances. The result was a new company, Courant Technologies,
and the successful OpenEx product—a next-generation
equities trading platform. Launched in 2001, OpenEx was built
on a standards-based technology foundation that delivered
superior trade execution and enabled open exchange in transparent
markets. Financial institutions chose OpenEx for building
their own internal trading systems and many became leaders
in direct-access trading using the OpenEx platform.
Increasing volatility in foreign exchange (FX) markets created
profitable new opportunities for currency traders in 2003.
Again anticipating traders’ needs, Courant launched
its first online automated trading product for neutral access
to the global currency markets. Adopted by thousands of traders
in the U.S., Europe, Asia, and the Middle East, Courant began
hosting its OpenEx FX systems and its trading networks, handling
average daily trading volumes of $500M.
In December 2005, Courant was re-incorporated as Fortex,
Inc. Headquartered in Silicon Valley, California, Fortex provides
the industry’s only independent real-time, multi-asset
trading platform for equities, options, futures, and foreign
exchange. The Fortex platform provides direct access to the
markets, automatically seeking global liquidity pools and
delivering 24x7 intelligent routing capabilities. By the first
quarter of 2007, the Fortex platform was processing $3 billion
in currency trades per day—validating Fortex’s
original vision and demonstrating enthusiastic market acceptance
of its solutions.
Independent and impartial, Fortex delivers flexible customized
trading platform and network deployment options. As a result,
the world’s leading investment firms and traders rely
on proven Fortex technology and its track record of anticipating
industry evolution to create and sustain customers’
market advantages.
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