Exxe Group Signs LOI for Algorithmic Proprietary Trading Platform

Rhea-AI Summary

Exxe Group, Inc. (OTC PINK:AXXA) has signed a definitive Letter of Intent (LOI) with a UK technology firm to implement a fully-automated algorithmic trading system, scheduled for closure in April 2023. The partner has previously developed three fully-automated trading systems and the current system has successfully completed over 10,000 trades in recent quarters. It is expected to generate an initial annual trading volume of $50 million and be profitable from inception. Shareholders will receive net profits via standard voting protocols.

Positive

• Signed LOI with a proven UK technology company for a fully-automated algorithmic trading system.
• The trading system has completed over 10,000 market-level trades successfully.
• Initial annual trading volume target is $50 million, indicating robust market potential.
• Profitability expected from the inception of the trading system.

Negative

• None.

• Multi-level definitive LOI signed with UK-based technology company
• Technology platform features multiple proprietary programmatic trading algorithms
• Closing and turn-key deployment of a fully functioning scalable platform in April 2023
• $50M in initial annual trading volume target

NEW YORK, NY / ACCESSWIRE / March 29, 2023 / Exxe Group, Inc. (OTC PINK:AXXA), ("Exxe" or the "Company") announces it has signed a definitive Letter of Intent (LOI) with a UK-based technology company to implement at-scale a fully-automated algorithmic trading system. This transaction is scheduled to close in April 2023.

Over the past decade, Exxe Group's partner has successfully developed and deployed three fully-automated algorithmic trading systems, and one semi-automated algorithmic trading system. The system being deployed and scaled under the agreement has been fully tested, having effected well in excess of 10,000 market-level trades over the two most recent quarters.

Based on real-time data the algorithmic trading system is expected to be profitable from inception, with an initial annual trading volume target of $50 million. Terms include the distribution of net profit paid to platform shareholders via standard voting protocols.

Dr. Eduard Nazmiev, Exxe Group CEO, stated: "We could not be happier than to enter into an LOI with an entity that has a proven history of success in developing complex, automated algorithmic trading systems. The system being implemented elevates our fintech initiatives across the board. "

About Exxe Group
Exxe Group Exxe is a diversified fintech company with assets in real estate, architectural design, agriculture, automotive, medical, media, and trading technology. Exxe Group acquires controlling equity interests in undervalued assets and undertakes an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise. For additional information please visit the Company's:

Website: http://www.exxegroup.com/
Twitter: https://twitter.com/exxegroup

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.

CONTACT: Exxe Group IR: info@exxegroup.com

SOURCE: Exxe Group

View source version on accesswire.com:
https://www.accesswire.com/746385/Exxe-Group-Signs-LOI-for-Algorithmic-Proprietary-Trading-Platform

FAQ

What is the recent development for Exxe Group (AXXA) announced in March 2023?

Exxe Group announced the signing of a definitive LOI with a UK technology firm to implement a fully-automated algorithmic trading system, expected to close in April 2023.

What are the expected initial trading volumes from Exxe Group's new algorithmic trading system?

The expected initial annual trading volume target is $50 million.

How many trades has the algorithmic trading system completed before its deployment?

The algorithmic trading system has successfully completed over 10,000 market-level trades in the previous two quarters.