Track Data Adds Real-Time Pink Sheet Quote Feed to Its myTrack Service; First Online Broker to Offer Individual Investors Level Two Data On Pink Sheets Quoted Stocks
May 03, 2001 12:01:00 PM ET
NEW YORK--(BUSINESS WIRE)--May 3, 2001--Track Data Corporation (Nasdaq NMS: TRAC) today announced that it is the first firm to offer individual investors a real-time quote feed for Pink Sheets quoted stocks. The Real-Time Pink Sheets Feed provides myTrack members with price quotes in over 3,000 securities, ranging from small emerging growth companies to ADRs of large foreign companies. PINK SHEETS DATA--LEVEL ONE OR LEVEL TWO
myTrack's new Real-Time Pink Sheets Feed will offer members two levels of data:
Pink Sheets Level One Service Inside Quote--Best Bid and Best Ask (Prices and Size). Price: $5 per month.
Pink Sheets Level Two Service The full montage of all market maker quotes (Market Maker ID, Prices, Size and Update Time) as well as the Inside Quote. Price: $15 per month.
Pink Sheets Electronic Quotation Service is provided to myTrack by Pink Sheets(R) LLC, the leading provider of pricing and financial information for the over-the-counter (OTC) securities markets. A REVOLUTION IN TRADING PINK SHEETS
"What investors needed was a real-time Level Two feed like the pros have, and Pink Sheets(R) LLC provides that," said Barry Hertz, Chairman and CEO of Track Data Corporation. "Now individual investors will no longer be shooting in the dark when they choose to invest in Pink Sheets companies. For some investors, this breakthrough will go unheralded, but for those who trade Pink Sheets, this will be a revolution."
"I'm happy that myTrack could be the firm that first brings Pink Sheets Level Two data to retail desktops," continued Hertz. "Of course, it's easy to be a trailblazer in serving investors who trade Pink Sheets quoted stocks, because most other brokerage firms have neglected these investors."
"New technology has completely changed the Pink Sheets universe--increased price transparency, efficiency, and liquidity is making it a far better place for individual investors than it once was," said R. Cromwell Coulson, Chairman and CEO of Pink Sheets LLC. "Competitive market makers are supplying liquidity, with real-time, firm priced quotes and a Level Two display available to see what's going on in the market. Of course the Level Two screen was basically only available to professionals. . .until today. Now, all the tools that investors need to trade Pink Sheets stocks--a direct access brokerage firm and a Level Two display on their desktops--are available at myTrack." ABOUT THE PINK SHEETS
There are over 4,100 stocks quoted exclusively in the Pink Sheets. Of those, almost 3,000 have firm market maker prices. Although many associate Pink Sheets quoted companies with small domestic and foreign OTC companies, or economically distressed issuers such as Lernout & Hauspie Speech Products (LHSPQ), many major American Depositary Receipts (ADR's) of large international corporations are quoted on the Pink Sheets. Examples include food giant Nestle (NSRGY), drug maker Roche (RHHBY), auto maker Volkswagen (VLKAY), brewery Heineken (HINKY), oil giant Lukoil (LUKOY) and the gaming industry's Sega (SEGNY) and Nintendo (NTDOY). Hundreds of these ADR's are included in myTrack's new real-time Pink Sheets quotes. ABOUT THE COMPANIES
Track Data is a New York-based financial services company that provides real-time financial market data, news, and research to institutional and individual investors through dedicated telecommunication lines and the Internet.
For individual investors, Track offers myTrack, a fully integrated, Internet-based online trading and market data system. myTrack's direct access online trading has commissions starting at $12.95 per trade and allows users the choice of where to route their orders. myTrack's continuous, dynamic stream of live market data is powered by application-based software and a constant server connection similar to systems used by professionals, making it faster than the HTML web-based static pages offered by most of its competitors, such as Schwab SCH, E*Trade ET, and TD Waterhouse TWE. In addition to all the free data supplied to myTrack users--streaming delayed quotes, company news, charting for technical analysis, and a proprietary library of intra-day market statistics--myTrack users can choose from a selection of paid data and research, including streaming real-time quotes and Nasdaq Level II. myTrack offers access through PCs, browser phones, and PDAs, such as Palm Organizers (made by Palm Inc. PALM) and Visors (made by Handspring HAND).
myTrack offers the first week of trading commission-free. To open a trading account, go to mytrack.com or call 1-800-myTrack.
For additional information, please contact Laurel Louison, Investor Relations, at 718-522-7373 or by e-mail: e-mail: laurel_louison@tdc.com
Pink Sheets(R) LLC is the leading provider of pricing and financial information for the over-the-counter (OTC) securities markets. The original "pink sheets" date back to 1913, when they were published on pink paper by the National Quotation Bureau, a precursor of Pink Sheets, LLC.
In September of 1999, Pink Sheets introduced its Electronic Quotation Service, an Internet-based, real-time quotation service for OTC equities and bonds. Its centralized information network collects firm, priced quotations from hundreds of different market makers in over 4,000 OTC Securities and provides them to market data distributors in real-time. Pink Sheets information enhances the efficiency of OTC trading, provides better executions for OTC investors and improves the capital formation process for OTC issuers. Pink Sheets is neither a Securities and Exchange Commission (SEC) Registered Stock Exchange nor a NASD Broker/Dealer. Investors must contact a NASD Broker/Dealer to trade in a security quoted on the Pink Sheets. Pink Sheets LLC is a privately owned company headquartered in New York City.
For additional information, please contact Pink Sheets Customer Service, at 212-868-7100 or by e-mail: info@pinksheets.com.
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