Algo Technologies Announces the Resignation of Hirander Misra as Director; Board Appoints Rami Habib as Interim CEO and Vladimir Parizhsky as Director

Algo Technologies, the specialist technology firm providing advanced high performance trading technology solutions, today announced that Hirander Misra has resigned from his position as Director and Board member to pursue other opportunities. The Board of Directors has appointed Rami Habib, who is one of the co-founders of Algo Technologies, to serve as interim Chief Executive Officer. The Board of Directors has also appointed Vladimir Parizhsky, who is the Global Chief Technology Officer, as Director of the company.

Mr Misra has served as Chief Executive Officer of Algo Technologies from March 2010 to July 19, 2011 and as a Director since July 19, 2011. Misra has made a valuable contribution to Algo Technologies over the last year and the staff of Algo Technologies and members of the Board wish him well in his endeavours.

Rami Habib is one of the co-founders of Algo Technologies and is also the CEO of AlgoEngineering Europe, the European arm of the technology firm specialising in proprietary trading on electronic exchanges.

Vladimir Parizhsky joined Algo Technologies early in 2010. Prior to that he was Vice President and Chief System Architect at Qualcomm Flarion Technologies, responsible for the architecture and algorithms of the FLASH-OFDM system. Mr Parizhsky also serves as the Global CTO of AlgoEngineering.