(BSNS WIRE) Track Data Corporation Defers One for Six Reverse Stock Split
Track Data Corporation Defers One for Six Reverse Stock Split
Business Editors
NEW YORK--(BUSINESS WIRE)--Oct. 25, 2002--Track Data Corporation
(Nasdaq: TRAC) today announced that it is deferring its proposed one
for six reverse stock split.
The Company proposed this split in September because the Company
did not satisfy the $1 minimum bid price requirement for continued
listing on the Nasdaq National Market. The split was to become
effective at the close of business on October 31, 2002. In view of a
recent statement by a representative of Nasdaq that it is considering
proposals to change the $1 bid price listing requirement, the Company
will defer the split until it appears that the split will be necessary
to permit the continued listing of the Company's shares.
Track Data is a New York-based financial services company that
provides direct access brokerage, real-time financial market data,
news, and research to institutional and individual investors through
dedicated telecommunication lines and the Internet. The Company also
owns and operates the Track ECN, an electronic communication network
that allows traders to display and match limit orders for stocks.
For professional investors, Track Data offers proTrack, a direct
access trading platform with fully integrated market data. proTrack
offers unbiased trade routing, allowing clients control over where
their orders are sent. proTrack is also available to broker-dealers as
an execution platform.
For individual investors, Track Data offers myTrack, a fully
integrated, Internet-based online trading and market data system.
myTrack's direct access online trading has equity commissions starting
at $12.95 per trade and allows users the choice of where to route
their orders. myTrack also offers trading in options at all options
markets, and over 6,000 mutual funds. In addition, futures trading in
the E-Minis is available, with cross-collateralization of accounts.
Futures trades are routed directly to the CME at $14 per contract per
round trip.
For additional information, please contact Rafi Reguer, Vice
President, Corporate Communications, at 718/522-0222 or by e-mail:
rafi_reguer@trackdata.com.
--30--CER/se*
CONTACT: Track Data Corporation
Rafi Reguer, 718/522-0222
rafi_reguer@trackdata.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: BANKING E-COMMERCE INTERNET
SOURCE: Track Data Corporation
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