JSC Izhcombank Deploys Avalon FX Pro Forex Solution
Friday, August 1, 2008 - 8:00 AM ET
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Avalon Capital Holdings Corporation (OTC: AVAL - News) and its wholly owned subsidiary, Traders Development, LLC (TD), announced today that Izhcombank has deployed a private labeled version of the Avalon FX Pro 4.1 trading platform. The launch is the result of a license agreement between TD and Capital Investment House, Ltd. The system is currently in operation and generating revenues for Avalon.
Avalon’s Chief Operating Officer, Mitch Eaglstein, stated: “JSC Izhcombank's deployment of Avalon FX Pro reflects the trading platform's international appeal to regional banks seeking to increase their revenues by offering the FX trading services to their clients." JSC Izhcombank was recently ranked 293 of Russia Top 500 most profitable banks for the 1st quarter of 2008 according to the JSC Izhcombank website (source: http://en.izhcombank.ru).
Avalon’s President, Alex De Khtyar, stated: “This launch demonstrates that Avalon’s non-fragmented approach in providing software solutions to financial companies has international demand. We anticipate many more companies from all over the world to enter the Forex market and utilize Avalon software in the future. This launch is a major accomplishment for Avalon.”
TD’s development team provided a customized solution for Capital Investment House, enhancing its ability to compete for the acquisition of Forex clients. M. Kladov, Capital Investment House, Managing Director, said, “We are excited to offer our clients Traders Development LLC's Forex trading platform, which is one of the best. We tried out many other programs and this platform is head and shoulders above the others.”
Avalon provides a range of platform liquidity sources including leading dealer and ECN marketplace solutions. JSC Izhcombank clients will trade directly on the Hotspot FX ECN marketplace via Avalon's FX Pro 4.1 Trading Platform. In addition, Avalon will provide comprehensive 24-hour technical support services.
Avalon FX Pro Trading software, including front-end, back office, FX Pro USB, and Avalon Forex Academy, is one of the most easy-to-use trading terminals designed for currency exchange operations in the FX spot market. The platform offers clients stability, flexibility, and fast response time. Avalon FX Pro 4.1 is available in several language options for trading such as English, Russian, Chinese, Japanese, Turkish, and French. The private labeled trading platform can be found at the following link: http://www.izhcombank.ru/icb/info/forex_software.html
About Avalon Capital Holdings
Avalon Capital Holdings Corporation, through its subsidiaries, develops, markets, and distributes high-performance trading software to financial institutions that engage in online trading. The Company specializes in products and turnkey solutions related to the Foreign Exchange (“Forex”) market. For additional information please visit http://www.avaloncapitalholdings.com/ or email info@avaloncapitalholdings.com.
About Traders Development, LLC
Traders Development, LLC is a financial software company based in Irvine, California. It is a leading technology provider of foreign exchange trading and data solutions. Its services include turn-key and customized solutions including dealing interfaces, back-office processing, database solutions, hardware, and technical support. Traders Development has developed and owns Avalon FX Pro™. For additional information contact info@tradersdevelopment.com.
About Capital Investment House
Capital Investment House is a financial company, based in Moscow, Russia. CIH is a broker-dealer registered and licensed to conduct business in securities. It is also engaged in offering Asset Management service to a broad customer base.
A number of statements referenced in this Press Release are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, and goals, assumption of future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this Release may be identified through the use of words such as “expects,” “will,” “anticipates,” “estimates,” “believes,” or statements indicating certain actions “may,” “could,” or “might” occur. Such statements reflect the current views of Avalon Capital Holdings Corporation with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties.
Avalon Capital Holdings Corporation does not undertake any responsibility to update the “forward-looking” statements contained in this news release. Any communications received by fax or e-mail concerning Avalon Capital Holdings Corporation which have not been authorized by the Company or its investor relations/media advisory firm are specifically disavowed by the Company.
Contact:
Avalon Capital Holdings Corporation
Alex De Khtyar, 310-967-0990
