Tomorrow morning's press release (available to TRAC's clients tonight:)
Message 13342170
TRACK DATA ANNOUNCES INVESTMENT IN USABANCSHARES.COM
FIRMS AGREE TO CO-MARKET & INTEGRATE SERVICES
NEW YORK, NY-April 4, 2000-Track Data Corporation
(Nasdaq NMS: TRAC) announced today that it has agreed to
acquire approximately 8% of USABancShares.com, Inc.
(Nasdaq NMS: USAB) in exchange for approximately 750,000
shares of Track's common stock. The companies also agreed to
market their services to their respective customers and to
integrate their online banking, brokerage, and market data
services.
USABancShares.com is the Internet bank ranked #1 in the country
by Gomez Advisors for its "energyONE" account. The bank?s low
costs and progressive services have earned it not only Gomez?s
#1 ranking, but a perfect score of 10. The bank offers savings
accounts, interest-bearing checking accounts, CDs, credit cards,
loans, and other interactive content which sets the standard
for online banking.
USABancShares.com is the country's first Federal Reserve Bank
holding company to add a "dot com" identification. It is
dedicated to providing the country's premiere online financial
services experience at usabancshares.com
"This alliance will be a great benefit to our myTrack members,"
said Barry Hertz, Track Data Chairman and CEO. "That?s because
it?s more than just a co-marketing deal. Our goal is to fully
integrate banking functionality into myTrack, to give myTrack
members easy access to top-notch market data, online trading,
and banking services in one place."
"myTrack has over 110,000 members, and I would say many of them
are going to like what USABancShares.com can offer them," said Ken
Tepper, President and CEO of USABancShares.com. "It?s a win-win
for both companies and their customers. That?s what makes this
alliance so exciting."
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, such as E*Trade (Nasdaq: EGRP), Schwab (NYSE: SCH),
and National Discount Brokers (NYSE: NDB). 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
intraday 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. In addition to PC-based trading, myTrack offers
wireless access through such devices as the Palm (made by Palm Inc.
(Nasdaq: PALM)). 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. |
