For immediate release October12, 2012

London, OntarioSusan Truppe, Member of Parliament for London North Centre and Parliamentary Secretary for Status of Women, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced today a Government of Canada investment that will help Cyborg Trading Systems grow and increase the global market presence of its trading technology.

"Our government is proud to support the efforts of southern Ontario companies that want to grow and compete in the global marketplace," said MPTruppe. "Investing in innovative companies like Cyborg Trading Systems will result in high-quality jobs in the region and put southern Ontario on the map as a leader in the world's information and communications technology industry."

London-based Cyborg Trading Systems develops trading technology for global financial firms. The technology uses computerized algorithms to automate the process of trading and managing the risk of financial instruments such as stocks, bonds and options.

Through FedDev Ontario's Prosperity Initiative, Cyborg Trading Systems will receive up to $381,500 to increase its resourcesboth technological and humanto help the company capitalize on existing market gaps, expand its operations, and bring its products to market globally. This is expected to create 16 new highly technical jobs in the region, more than doubling the company's current workforce.

"The FedDev Ontario investment will allow us to rapidly scale our global growth strategy by allowing us to accelerate our plans to hire top Canadian talent," said James McInnes, founder and CEO of Cyborg Trading Systems. "We have a unique opportunity to be a world leader in the financial technology industry and this investment will take us one step closer to this goal."

For more information on this project and the Prosperity Initiative, please refer to the backgrounder.

Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth. The Agency has launched a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to encourage partnerships and support projects that help the region's businesses and communities become more competitive, innovative and diversified. To learn more, please visit http://www.FedDevOntario.gc.ca or call 1-866-593-5505.

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Government of Canada Supports the Expansion of a London-Area Technology Company