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ATD finalizes Chicago Securities Group acquisition

Jul. 1, 2003
Charleston Regional Business Journal
Automated Trading Desk, a Mount Pleasant-based technology company that specializes in automated trading and custom execution services, announced July 1 the closing of its acquisition of Chicago Securities Group LLC, a specialist firm on the Chicago Stock Exchange, trading more than 250 over-the-counter and listed stocks. Although this transaction initially closed in June 2002, ATD had the right to rescind the transaction through June 2003. ATD has now waived the rescission right. Chicago Securities Group will be renamed ATD Specialists LLC, a wholly owned subsidiary of Automated Trading Desk.

The combination of ATD and ATDS will enable fully automated trading capability on the exchange floor in the coming months. Financial terms were not disclosed.
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