Developed in ParaType (ParaGraph) in 1990 by Vladimir Yefimov and Alexander Tarbeev. Based on Times New Roman of Monotype, 1932, by Stanley Morison and Victor Lardent, and other versions of Times. It has many characteristics of an Old Style serif faces; it was designed for better legibility in combination with good economy. Widely used in books and magazines, reports and office documents, and also for display and advertising.