Exxe Group Signs LOI for Algorithmic Proprietary Trading 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. "
https://www.accesswire.com/746385/Exxe-Group-Signs-LOI-for-Algorithmic-Proprietary-Trading-Platform