TRAC gapping up on huge news of developing it's own ECN. Bought 8 1/4 premarket Float is only 3.3M, eps -0.05, almost making a profit, not bad for an Internet company.
(BSNS WIRE) Track Data Announces Its myTrack Online Services Broker-Deal
Track Data Announces Its myTrack Online Services Broker-Dealer Applies to Establish an ECN Business/Technology Editors
NEW YORK--(BUSINESS WIRE)--Oct. 29, 1999--Track Data Corporation
(Nasdaq NMS: TRAC) announced today that Track Securities Corp., the
broker-dealer that provides online trading for its myTrack online
trading customers, filed an application today with both the SEC and
the NASD to establish an electronic communications network (ECN).
The ECN will provide another source for best execution for
myTrack customers, as well as the opportunity for other broker-dealers
to eventually join in the network. In the past, it has taken
approximately six months to get approval for an ECN. Track Data has
the right to take control of the ECN after it obtains its own
broker-dealer license.
Barry Hertz, President and CEO, said, "We believe this move will
benefit our customers with our objective to provide the best execution
possible. Further, the ECN will provide an opportunity for strategic
alliances with other parties that could result in further benefits to
our business."
Track Data provides real-time financial market data, news,
(BSNS WIRE) Track Data Announces Its myTrack Online Services Broker-Deal
Track Data Announces Its myTrack Online Services Broker-Dealer Applies to
Establish an ECN
Business/Technology Editors
NEW YORK--(BUSINESS WIRE)--Oct. 29, 1999--Track Data Corporation
(Nasdaq NMS: TRAC) announced today that Track Securities Corp., the
broker-dealer that provides online trading for its myTrack online
trading customers, filed an application today with both the SEC and
the NASD to establish an electronic communications network (ECN).
The ECN will provide another source for best execution for
myTrack customers, as well as the opportunity for other broker-dealers
to eventually join in the network. In the past, it has taken
approximately six months to get approval for an ECN. Track Data has
the right to take control of the ECN after it obtains its own
broker-dealer license.
Barry Hertz, President and CEO, said, "We believe this move will
benefit our customers with our objective to provide the best execution
possible. Further, the ECN will provide an opportunity for strategic
alliances with other parties that could result in further benefits to
our business."
Track Data provides real-time financial market data, news,
fundamental research, charting and analytical services to
institutional and individual investors through dedicated
telecommunication lines and the Internet. The Company also offers
online trading through its myTrack Internet-based personal investment
service. myTrack is an Internet-based software application that is not
restricted by the limitations of an HTML website-based static system
offered by virtually all of its well-known competitors. myTrack
delivers a continuous dynamic stream of live market data and
investors' online trading activity. The system is always connected and
is an order of magnitude faster than competing website-based systems.
Download myTrack software or open a trading account at
mytrack.com or call 1-800-myTrack. Additional information
may be obtained by contacting Laurel Louison, Investor Relations, at
718/522-7373 or by e-mail: laurel_louison@tdc.com.
Track Securities Corp. is a broker-dealer based in Boca Raton,
Florida, which is owned by a director of Track Data.
--30--flb/ny*
CONTACT: Track Data Corp., Brooklyn, New York
Laurel Louison, Investor Relations
718/522-7373
e-mail: laurel_louison@tdc.com
tdc.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: BANKING COMPUTERS/ELECTRONICS SOFTWARE
TELECOMMUNICATIONS INTERNET
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
|
