A.B. Watley to Give Away Nasdaq Level II Data for Free in New Product Launch
NEW YORK--(BUSINESS WIRE)--Sept. 21, 1999--A.B. Watley Group Inc. (NASDAQ: ABWG - news) premier provider of trading services through its online brokerage firm A.B. Watley, Inc. (www.abwatley.com) today announced the launch of UltimateTrader Free, an online trading platform offering free realtime streaming Nasdaq Level II data, integrated order entry and no minimum trade requirement.
A comprehensive solution for active traders, UltimateTrader Free is available to A.B. Watley customers who maintain an average $20,000.00 monthly cash balance. UltimateTrader Free will offer the following features:
Dynamically updating, realtime Nasdaq Level II screens with integrated order entry.
Dynamically updating realtime intraday and historical charts, with over 40 different analytical tools.
-- Dynamically updating realtime position minder.
-- Dynamically updating realtime buying power.
Dynamically updating realtime stock tracker and portfolio monitor.
``We are the first broker to provide free, realtime streaming quotes. UltimateTrader Free demonstrates our commitment to provide the highest level of data and execution services, at the most affordable level.' said Steven Malin, Chairman and Chief Executive Officer of A.B. Watley Group Inc.`` The new service offers the active trader considerable savings in both data costs and superior trade execution, with the opportunity to transact seamlessly into the exchanges and ECN's.'
ABOUT A.B. WATLEY GROUP INC.
A.B. Watley Group Inc. is the parent Company of A.B. Watley, Inc., a multifaceted, technological and service-oriented brokerage firm offering two proprietary online trading systems, UltimateTrader(TM) and WatleyTrader(TM), that provide realtime data feed and instantaneous execution for the most active segment of the online trading community. The A.B. Watley, Inc. Institutional Sales and Trading Division specializes in the execution of complex and sensitive large-block equity transactions for institutions, major investment managers, insurance companies, banks, and high net worth individuals. Under its former name, Internet Financial Services Inc., the Company completed its initial public offering of 2,300,000 shares of common stock on April 20, 1999. Its recent third quarter earnings reported a revenue growth of 148% and a 317% increase in trade volume.
SAFE HARBOR STATEMENT
Certain statements contained herein, including statements regarding the development of services and markets and future demand for services and other statements regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). Any number of conditions may occur which would materially affect important factors in this analysis and materially change expectations. These factors include, but are not limited to, customer trading activity, loss of one or more significant customers, change in technology, shifts in competitive patterns, ability to manage growth effectively, risks associated with acquisitions including integration risks, risks associated with strategic partnerships, various project-associated risks, substantial competition, general economic conditions, risks associated with intellectual property rights, risks associated with international operations and other risk factors listed from time to time in the A.B. Watley Group Inc.'s filings and reports with the Securities and Exchange Commission. |
