NEW YORK, NY-April 6, 2000-Track Data Corporation
(Nasdaq NMS: TRAC) announced today it has agreed to acquire a
15% interest in iAnalyst in exchange for approximately
135,000 shares of Track's common stock. The closing of
the transaction is subject to customary terms and conditions.
iAnalyst is a privately held company that will let individual
investors consult with professional equity research analysts
in real-time, one-on-one, over the Internet. iAnalyst expects
to launch its service in the second quarter of 2000.
"We think iAnalyst's concept-live market experts you can talk
to-is terrific," said Barry Hertz, Track Data Chairman and CEO.
"The iAnalyst service will make a great addition to myTrack.
Since we've had such good feedback on our community chat
feature, with its 20 channels of multiple topics and audiences,
we think iAnalyst will do well, too. Our goal is to integrate
the iAnalyst functionality into myTrack, to give myTrack
members access to professional market analysts who can answer
their questions about various stocks."
"This is a key strategic development for us," said Tin Albano,
iAnalyst Chairman and CEO. "An investment by a successful
company like Track Data lends credibility to our firm and to our
business strategy. myTrack already empowers the individual
investor with the tools necessary to trade on par with
professionals. iAnalyst will complement the myTrack online
trading and market data services nicely."
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 browser
phones and PDAs such as Palm Organizers (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.
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