PriMuni Launches Revolutionary Powerloom Enabled Trading Solution
PriMuni changes the game for primary market municipal bond distribution
built on Powerloom's Business Intelligence 2.0
PITTSBURGH, P.A. - November 12, 2001 - Today Powerloom® Corp.,
the leading provider of multi-industry software solutions that enable
intelligent real-time decisions in dynamic, complex environments,
announced that PriMuni® LLC launched its' revolutionary service
for municipal bonds based on Powerloom's Business Intelligence 2.0.
PriMuni's online trading solution enables issuers in the $186 billion
municipal bond market to more efficiently place bonds with retail
customers by creating a direct connection between the issuers and
retail brokers. While other electronic trading platforms seek to
disintermediate the retail broker, PriMuni improves the retail order
solicitation process between brokers, retail desks and underwriters.
"With the proprietary PriMuni system," said C. Talbot
Heppenstall, Jr., President of PriMuni L.L.C., "we will produce
savings for the issuers while also providing higher yields for retail
investors and higher commissions for the retail broker. It's a win-win
As PriMuni's application evolves, it will increasingly leverage
four proprietary technology components from Powerloom's Business
Intelligence 2.0 technology suite:
- The identification engine, used by PriMuni to match supply and
demand for a constantly changing set of municipal bonds, continually
exposes items in large, complex, multi-dimensional data sets from
real-time and static public and private information sources.
- Smart agents enable PriMuni users to fully describe bonds that
meet specific investment criteria. The smart agents automatically
and continuously monitor for new issues and allow users to establish
sophisticated trading rules.
- Notification tools that inform a user when smart agents find potential
investments. Real-time choices can be examined in real-time.
- Analytics for evaluating alternative investment choices based
on bond characteristics and external market conditions.
"PriMuni spotlights how Powerloom is building innovative,
value creating solutions for the financial services arena,"
said Michael Foster, Vice President of Financial Sector. "We
are excited about the opportunity to work closely with PriMuni in
launching this innovative solution."
Powerloom Corporation is the leading provider of multi-industry
software solutions that enable intelligent real-time decisions in
dynamic, complex environments. Applying proven financial markets
techniques to match complex supply and demand, Powerloom's scalable,
J2EE solution provides enhanced value in the form of faster, more
accurate decision making. The patent-pending technology rapidly
and efficiently identifies, informs and acts on complex, multi-dimensional
information found in private and public sources. Our J2EE components
are platform independent solutions and can be easily integrated
into or provide the foundation for industry-specific applications.
Powerloom can be contacted at 1.412.880.5300 or at www.powerloom.com.
PriMuni, L.L.C. is revolutionizing the distribution of primary municipal
bonds. PriMuni's on-line trading solution enables issuers to place
bonds with retail customers bypassing the current inefficient, highly
fragmented, over-the-counter market. While other electronic trading
platforms seek to disintermediate the retail broker, PriMuni improves
the retail order solicitation process between brokers, retail desks
and underwriters. PriMuni can be contacted at 1.800.890.7229 or
For more information, press only:
Dwight Dietrich, 1.412.880.5300, email@example.com