CyBerCorp.com Reports Volume, Assets and Accounts Up Dramatically in 1999, With 55% Growth in 4th Quarter
AUSTIN, Texas, Jan. 10 /PRNewswire/ -- CyBerCorp.com, a Top Ten online broker, saw its transaction volume, assets and customer base skyrocket during 1999, according to data released today.
(Photo: newscom.com )
Online trades averaged 19,196 per day during December, up 39% over November and up 78% from September's 10,782 tickets per day. Transactions during the fourth quarter totaled 919,407 transactions, up 55% from the 590,757 posted in 1999's third quarter -- when CyBerCorp.com broke into the ranks of the Top 10 online brokers as calculated by Hambrecht & Quist and US Bancorp Piper Jaffray, and which made the firm the fastest growing e-broker in the third quarter.
``We believe that this rate of growth will keep CyBerCorp.com in the Top Ten of Online brokers,' said Philip R. Berber, Chairman of CyBerCorp.com. ``In fact, we hope we may have moved up the ladder by at least one place, if not two.'
CyBerCorp.com's customer base grew almost tenfold, from 280 accounts at the end of 1998 to more than 2,500 at the end of 1999. Customer assets at the brokerage climbed from $112.4 million at the end of the third quarter to $202.3 million at the end of the fourth quarter, an 80% increase.
``Since we established the brokerage subsidiary in mid-1998, our volume growth has been exponential,' said Berber. ``Given our strategy, plans, product releases, technology advancements and increase in staffing in 2000, we are again seeking 400% growth this year.'
About CyBerCorp:
Founded in December 1995 in Austin, Texas, CyBerCorp, Inc. is an electronic trading technology and brokerage services group, which designs and develops the leading electronic trading software for professional electronic traders. Orders placed with CyBerCorp's software are routed to the company's wholly owned brokerage subsidiary, CyBerCorp.com, where using CyBerCorp's ``Super ECN' (CyBerXchange), the orders are forwarded to the optimal party in that moment. More than 2,500 active traders use CyBerCorp's technology, either online from their home and offices or from one of the trading rooms operated by third party broker dealers. Combined, these traders execute around 20 million shares a day through CyBerCorp's Technology. CyBerCorp's Web site is: www.cybercorp.com.
CyBerCorp.com is a division of CyBerBroker, Inc., a wholly owned subsidiary of CyBerCorp, Inc. Member NASD, SIPC. |
