(BSNS WIRE) Track Data Announces Marketing and Software Licensing Agreement
Track Data Announces Marketing and Software Licensing Agreement With On-Site
Trading, Inc.
Business Editors
NEW YORK--(BUSINESS WIRE)--March 23, 2000--Track Data Corporation
(Nasdaq NMS: TRAC) today announced that it has signed a non-exclusive
marketing and software licensing agreement with privately held On-Site
Trading, Inc., a professional trading operation with offices
throughout North America. The agreement will introduce Track Data's
high-end market data display system, MarkeTrack-MX, to run alongside
and in support of On-Site Trading's `direct-access' execution product.
Financial terms of the deal were not disclosed.
"Track Data secures additional revenues, and yet another
endorsement of its high-end professional market data display system
for the institutional marketplace," said Barry Hertz, Track Data
Chairman and CEO. "On-Site Trading gains a competitive advantage by
providing a premium market data system and a total solution for its
professional traders."
"We entered this alliance with Track Data to give our traders
using our remote direct access product, the On-Site Trader, the
benefit of Track Data's sophisticated, easy-to-use package to obtain
reliable quotes," said On-Site Trading President Gary Mednick.
"MarkeTrack-MX broadens our customers' options. This brings us closer
to our goal of a virtual trading desk environment offering traders
everywhere the ability to choose the real-time quote, news or research
and analytical package they prefer."
The agreement will allow On-Site Trading to deliver MarkeTrack-MX
to both its remote traders via The On-Site Trader over the Internet,
as well as its office-based traders through T1 connectivity to Track
Data's proprietary ticker plant.
"Many professional traders can execute in excess of 100 trades a
day," Hertz noted. "Directing order flow to specific market makers is
essential for these professionals and it is these traders who will
benefit from the `direct-access' execution capabilities provided by
On-Site Trading."
"Our companies will jointly market the MarkeTrack-MX system and
the On-Site Trading Direct Access execution system to active
professional traders," Mednick said. "All traders using MarkeTrack-MX
will now be able to execute their orders directly to market makers on
any exchange they choose."
ABOUT THE COMPANIES
Founded in 1994 and geared toward active, experienced investors,
On-Site Trading, Inc. is an electronic brokerage that enables
investors to trade directly into the stock markets using the firm's
customized PCs, either from remote locations or from one of its
fifteen trading floors in six states. A Virtual Brokerage, On-Site
Trading allows investors to buy and sell equities anytime, from
anywhere, while enjoying the benefits of real-time stock trading. For
more information, visit their site at onsitetrading.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. For additional information
visit Track Data's web site at tdc.com. Track Data also
offers myTrack, a fully integrated Internet-based online trading and
market data system. Download myTrack software or open a trading
account at mytrack.com or call 1-800-myTrack.
--30--es/ny*
CONTACT: Track Data
Laurel Louison, Investor Relations
718/522-7373 or by e-mail: laurel_louison@tdc.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: BANKING COMPUTERS/ELECTRONICS INTERNET
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