DARN! Didn't load up during the absence of PR's. Great news,even though I don't own as much as I'd like;
TRACK DATA ANNOUNCES INVESTMENT IN FLEXTRADER.COM
NEW YORK--January 20, 2000--Track Data Corporation
(Nasdaq NMS: TRAC) announced today that it has agreed to
acquire a 10% interest in FlexTrader.com in exchange for
400,000 shares of Track's common stock. The companies also
agreed to market their services to their respective members.
The closing of the transaction is subject to customary terms
and conditions.
The companies previously announced a joint effort to create a
wireless trading platform for Track's myTrack online trading
system. The system will be able to offer myTrack users
one-touch wireless trading, initially using the RIM Interactive
pager and later using other portable devices, to connect to
myTrack's state-of-the-art trading platform using
FlexTrader.com's WAP (wireless application protocol) enabling
technology.
FlexTrader.com's website was launched in November 1999 and is
already registering more than 200 members every day. Under the
agreement, all of FlexTrader.com's members will be
pre-registered to Track's myTrack online trading and market data
system. Track will offer to its members the valuable market
information offered by FlexTrader.com.
Track Data's Chairman and CEO, Barry Hertz, said, "We are very
excited about this opportunity to invest in FlexTrader.com.
This investment continues our efforts to make strategic
investments in Internet companies that complement our business,
increase our membership and afford our stockholders the potential
upside in any future IPO's of these companies. We have made
three other investments since our successful investment with
Edgar Online."
Larry Rubin, Chairman of FlexTrader.com, said, "We believe that
this is a key strategic development for FlexTrader.com. It is
important to have the full attention from a partner like Track
Data who can assist us in achieving our full growth potential by
using our proprietary WAP enabling technology."
FlexTrader.com (www.flextrader.com) is a privately held company,
based in New York City, that offers novice and experienced
investors customized investment research tools, providing access
to the most comprehensive, easy-to-use financial information
management system available on the Web today. FlexTrader.com's
subscribers have free access to over 20 proven technical trading
systems that can be back-tested, as well as detailed graphing and
charting, market news and fundamental research. FlexTrader.com
provides its subscribers with buy/sell alerts through email and
wireless devices such as the RIM Interactive pager. Prior to the
creation of FlexTrader.com, this type of information had only been
available to professional brokerage firms.
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 such as E*Trade (Nasdaq: EGRP), Schwab
(NYSE: SCH) and Ameritrade (Nasdaq: AMTD). 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. For information about
myTrack's SDK, go to mytrack.com.
_______________________________________________________________
If you do not wish to receive any more e-mail regarding myTrack
please forward this email message to unsubscribe@tdc.com.
|
