CHICAGO (January 25, 2001)--Archipelago, a leading electronic communications network and soon to become the world's first, totally open, electronic stock exchange in the United States pending approval by the U.S. Securities and Exchange...
CHICAGO (January 25, 2001)--Archipelago, a leading electronic communications network and soon to become the world's first, totally open, electronic stock exchange in the United States pending approval by the U.S. Securities and Exchange Commission, announced today that it will serve as an associate sponsor of Team Motorola for the 2001 CART FedEx Championship season. The Archipelago logo will be displayed on the uniform of 1991 CART Champion Michael Andretti and the #39 Motorola Honda-Reynard. Archipleago's sponsorship of Team Motorola will serve as a cornerstone for a major portion of its marketing campaign.
The 2001 CART FedEx Series will mark the first year of partnership for Archipelago and Team Motorola and is a natural fit. Both Champ Cars and Archipelago compete in highly competitive industries where the relentless quest for technological innovation, teamwork and speed drive success both on the track and in the market.
"There is no sport as competitive as CART racing. And there is no other driver who compares to Michael Andretti, a proven champion. We are very proud to be part of Team Motorola this year. It is truly a perfect match between Team Motorola and Archipelago as both our businesses strive for speed, superior technology and the competitive edge," said Jerry Putnam, Chief Executive Officer of Archipelago.
"We are proud to have another technological leader join Team Motorola," said Greg Via, Vice President and Director of Corporate Sponsorship for Motorola. "Archipelago and Motorola are both leaders in their industry and with Team Motorola plan to lead at the racetrack as well."
Archipelago joins Team Motorola, formed in September of 2000, under the leadership umbrella of Team Green, Inc. Team Green, Inc. has been active in the CART FedEx Championship Series since 1995 and in addition to the entry for Michael Andretti, fields Champ Car entries for drivers Paul Tracy and Dario Franchitti. Team Green has an outstanding history including a victory at the 1995 Indianapolis 500, Champions of the 1995 CART FedEx Series and 13 victories over their Champ Car tenure.
"We're delighted that Archipelago has decided to support our effort with Team Motorola and Michael Andretti," says Team Motorola General Manager Kim Green. "We are looking forward to a successful relationship with Archipelago-- both on and off the race track."
Archipelago was formed in December 1996 with software developer, Townsend Analytics. It is one of the original four ECNs approved in January 1997 by the U.S. Securities and Exchange Commission (SEC). Since its inception, Archipelago has offered subscribers outbound order preferencing to effectively create a national limit order book for Nasdaq stocks and listed stocks. Its leading-edge technology, open architecture and innovations facilitate the best execution for investors.
Archipelago is also the only ECN with major investors in both institutional and retail financial services sectors. The Archipelago trading system provides investors fast, cost-efficient and anonymous access to the market. Its average daily volume has almost quadrupled since June 1999. In July 2000, Archipelago and the Pacific Exchange closed their definitive agreement to create the first fully electronic national stock exchange for New York Stock Exchange, American Stock Exchange and Nasdaq stocks subject to Securities and Exchange Commission approval.