TRAC daily news:
Track Data Reports Record Daily Trading Volume for Its myTrack Online
Trading Service
myTrack Members are Asked to Vote On Increased Marketing Expenditures
NEW YORK--(BUSINESS WIRE)--Feb. 14, 2000--Track Data Corporation (NASDAQ NMS:TRAC - news) today reported a new milestone for its myTrack
online trading service. Last Thursday, February 10th, myTrack achieved over 7,500 daily trades for the first time.
''7,500 daily trades is a very significant number for us because it's our break-even point,'' said Barry Hertz, Track Data Chairman and CEO. ''We had calculated
that if we could average 7,500 daily trades for an entire quarter, we could break even. We don't expect to break even this quarter, but we feel that hitting the 7,500
mark as quickly as we did is a good sign for the future.''
Now that the company has reached the 7,500 mark, it is dealing with the question that hits many Internet companies: should Track Data try to show a profit as soon
as possible or should it reinvest more money into myTrack and continue to grow the business. Track has decided to seek input from a source it has tapped often
before--its myTrack members and stockholders.
Beginning today, myTrack members will have the opportunity to vote on whether or not Track Data should delay showing a profit for the sake of increasing its
market share. The vote, which is non-binding, will last all week. myTrack members can vote by clicking on the ''Chat'' feature and typing the following:
vote yes -- to indicate Track should delay profits so as to increase its market share
vote no -- to indicate Track should try to show a profit as soon as possible
vote -- to see up-to-date voting results.
Track Data stockholders who are not yet myTrack members are invited to participate in the vote by opening a free myTrack account by going to mytrack.com
and downloading the software.
Track Data is a New York-based financial services company that offers myTrack, a fully integrated Internet-based online trading and market data system. myTrack
offers the first week of trading commission-free. To open a trading account, go to mytrack.com and click on the ''Open a Trading Account'' button.
myTrack delivers a continuous dynamic stream of live market data and investors' online trading activity. Trading is offered at prices starting at $12.95 per trade.
myTrack is delivered over the Internet powered by application-based software and a constant server connection similar to systems used by professionals, making it
faster than the HTML web site-based static pages offered by most of its competitors. myTrack delivers free streaming delayed quotes and unlimited free real-time
extended quotes, as well as breaking company news, a trade by trade log, charting for technical analysis and a proprietary library of intra-day market statistics. For
$19.98 per month plus exchange fees, users can subscribe to streaming real-time quotes. A menu of features, including Nasdaq Level II, is available separately or in
value packages. 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.
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. Additional information may be obtained by contacting Laurel Louison, Investor Relations, at 718-522-7373 or
by e-mail: laurel_louison@tdc.com.
Contact:
Track Data Corporation, New York
Laurel Louison
Investor Relations
718/522-7373
e-mail: laurel_louison@tdc.com |
