Schonfeld Group, a leading proprietary and retail trading and investments firm, announced a significant expansion of its online retail and black box trading businesses via an acquisition of the assets of leading broker dealer and technology company, Trinix Securities.

Specific terms of the agreement were not made available.

The acquisition allows short-term trading pioneer and primarily facilities-based Schonfeld Group to utilize Trinix's T-REX technology as the underpinnings of a state-of-the-art Internet-based order entry system for traders who want to trade remotely. Schonfeld acquired Trinix's retail customers - a group that on average trades 5 million shares per day online. Schonfeld Group currently trades approximately 150 million shares per day or 2-4% of all NYSE listed and OTC volume.

Steven Schonfeld, CEO of Schonfeld Group, commented, "After many years of building a business that caters to the in-house trader, we are excited to take the expertise and tools that have made us a leader in short-term trading and broaden our offering to the online trading community. This acquisition is a great opportunity to cost-effectively grow our business, and it provides us with the final piece of the online puzzle to increase our penetration in the online and black box trading communities."

Schonfeld Group's President Andrew Fishman added, "We believe our union with Trinix will marry the advanced T-REX trading platform with our trading expertise and capital commitment to create a distinct product and a formidable competitor to the online trading industry's leading firms."

David Laurent of Trinix commented, "Our joint venture targeted to the institutional community has been very successful and we look forward to driving the same service experience to the online trading arena. We will offer a very attractive service to the active trader."

Schonfeld officials noted they were exploring distance learning approaches as a training tool for traders interested in Schonfeld Group's online service.

Schonfeld Group

Schonfeld Group is a leading professional proprietary and retail trading and investments firm. A professional trading pioneer, the company's businesses include leadership positions in both the retail and proprietary trading communities, clearing services, and a focus on alternative investments, including hedge funds and private equity.