Wofex Seeks Funding, Considers Sale of System
TRANSACTION SYSTEMS
NEW YORK--The Wofex trading system, which suspended operations on June 15 pending further financing (TTW, June 18), has about $8 million in funding secured and needs about $4 million to complete its second round of financing and resume operations, says CEO Richard Kelly. He expects the second round to take about two months to close.
In addition, there are at least four firms--two broker/dealers and two ECNs--in discussions with Wofex to buy the company, Kelly says. These firms would likely use
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