Omega Research Unveils TradeStation.com at OmegaWorld(R) 2000
(PR Newswire, 06/9/2000 08:31)
New Web-based Platform for Active Traders Will Combine Streaming Real-Time And Historical Data, Next Generation Direct Access Order Execution Technology
And Unmatched Strategy Testing and Automation Capabilities
NEW YORK, June 9 /PRNewswire/ -- Omega Research Inc., (NASDAQ:OMGA), a leading provider of real-time trading tools for the online trader, today previewed TradeStation.com, a unique Web-based trading platform designed for professional and active individual traders. This integrated solution was the primary goal of the pending merger between Omega Research and OnlineTrading.com, which is expected to close next month. An overview of this next generation trading platform is available to the general public at tradestation.com.
This groundbreaking trading platform was demonstrated this morning by Bill Cruz, co-chairman of the board and co-chief executive officer of Omega Research, Inc., to active traders attending OmegaWorld(R) 2000, the premier conference dedicated to trading strategy development for active retail traders, running through June 11 at the New York Hilton and Towers.
"We believe that TradeStation.com will be the new standard for active traders," said Cruz. "Our new direct access order execution technology -- IntelliRoute(TM) and PowerOrders(TM) -- delivers unprecedented trading capabilities that previously were only available, if at all, to major institutions. We believe that the combination of this proprietary order execution technology with TradeStation's unmatched ability to historically test and then automate one's own trading strategies in real-time is generations beyond anything available today."
IntelliRoute is an intelligent direct access order routing technology that automatically seeks the best price available at the time the order is placed. PowerOrders technology levels the playing field for individual traders by providing many of the same trading advantages currently available only to institutional traders, such as discretionary and non-disclosed orders.
The active trader market targeted by TradeStation.com is estimated by Robertson Stephens to be over 800,000 online accounts, which trade so actively it is estimated that they represent more than 50% of the 1.5 million daily online trades.
"With a database of over 100,000 registered customers who have paid over $125 million for our trading tools, we believe we have an enormous opportunity to migrate those customers, as well as attract the growing market of active traders, to TradeStation.com," said Cruz.
About Omega Research, Inc.
Founded in 1982, Omega Research, Inc. is a leading provider of branded real-time trading tools for the active trader.
WindowOnWallStreet.com, the company's new online subscription service, offers traders award-winning tools including powerful analytical charting, Nasdaq Level II, time & sales, quote lists, option chains, market leaders, streaming news, Internet SmartSearch, live ticker, portfolio management, Profit/Loss tracking, discussion forums, and wireless access. Window On WallStreet and its Financial Data Cast Network(TM) (FDCN) were acquired by Omega Research in late October 1999 as part of the company's evolving Internet strategy. FDCN is widely recognized as one of the Internet's most sophisticated streaming real-time quote services. For additional information and to register for the service with a free 10-day trial, visit windowonwallstreet.com.
Later this year, Omega Research intends to launch TradeStation.com, which the company believes will be the Internet's first trading strategy platform dedicated to serving the needs of the active trader. TradeStation.com will combine the strategy development, back-testing and automation of TradeStation with the streaming real-time delivery of market information and all other features and functions incorporated in WindowOnWallStreet.com.
On January 20, 2000, Omega Research and OnlineTradinginc.com Corp. (NASDAQ:LINE), a leading direct access online broker for active traders, announced a definitive agreement to merge the two companies in an all-stock combination. The consummation of the merger is subject to satisfaction of certain conditions, including, but not limited to, approval by the shareholders of each of Omega Research and OnlineTrading.com, NASD regulatory requirements, and the registration of the new holding company's shares with the SEC and the listing of such shares with The Nasdaq National Market. The strategic combination of these two companies is expected to create a seamlessly integrated trading platform that will, for the first time, deliver a complete solution to the active online trader: powerful trading strategy tools, streaming real-time market quotes and news, and direct access to high-speed, order-routing execution services.
Omega Research's principal client software products currently include TradeStation(R)2000i, OptionStation(R)2000i, RadarScreen(TM)2000i, and Omega Research ProSuite(R)2000i. Omega Research's 2000i line of software products is compatible with the following real-time Internet and broadcast data services: Data Broadcasting Corporation's (NASDAQ:DBCC) eSignal (Internet), InSite (Internet), and BMI (Broadcast); Data Transmission Network (NASDAQ:DTLN) DTN Real Time and DTNstant (Broadcast); and Hyperfeed Technologies, Inc.'s (formerly PC Quote, Inc.) (NASDAQ:HYPR) Hyperfeed(TM) (Internet and Broadcast). With the click of a mouse, the 2000i products can use the Internet to access the online brokerage services of E*Trade (NASDAQ:EGRP) and Wall Street Access.
This press release contains statements that are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this press release the words "believes," "plans," "estimates," "expects," "intends," "designed," "anticipates," "may," "will," "should," "could," "upcoming," "potential" and similar expressions, if and to the extent used, are intended to identify forward-looking statements. All forward-looking statements are based largely on current expectations and beliefs concerning future events that are subject to substantial risks and uncertainties. Actual results may differ materially from the results suggested herein. Factors that may cause or contribute to such differences include, but are not limited to, the company's ability to continue to effectuate its Internet strategy and to develop and successfully market the products and services described in this press release (and the costs associated therewith); their acceptance in the marketplace; technical difficulties or errors in the products and/or services; market pressure to lower substantially or eliminate pricing on the types of Internet subscription services described as a result of such services being provided at low or no additional costs by brokerages, financial institutions and other financial companies to their customers, or for other market reasons; the company's customer and active prospect base containing a substantially lower number of interested subscribers and/or brokerage clients than the company anticipates; the failure to consummate the pending merger with OnlineTrading.com at all (or on a timely basis) due to regulatory issues or other reasons; difficulty integrating the two companies from technology, operational and marketing aspects; potential NASD or other broker-dealer regulatory issues arising from the merger and/or the conduct of a brokerage business focused on active traders; the success (and cost) of new marketing strategies as a result of the merger; the company's future participation in any merger or other strategic alliance; unfavorable critical reviews; increased competition (including product and price competition); the level of market demand for real-time decision support tools, real-time data and/or online brokerage services and/or website services generally; the scalability, performance failures and reliability of the Financial Data Cast Network; the entrance of new competitors into the market; timing and significance of additional new product and service introductions by the company and its competitors; general economic and market factors, including changes in securities and financial markets; the adequacy of working capital, cash flows and available financing to fund the new business model and sustain expected operating losses; and other risks and uncertainties indicated from time to time in the company's filings with the Securities and Exchange Commission including, but not limited to, Omega Research's December 31, 1999 Annual Report on Form 10-K, its registration statement on Form S-4 filed April 17, 2000, as amended, as well as other press releases, particularly those released during and subsequent to the 1999 third quarter. SOURCE Omega Research Inc.
-0- 06/09/2000
/CONTACT: Sean Davis, Vice President of Investor and Media Relations of Omega Research, 972-470-4742; or Kim Shepherd or Jim Fitzpatrick, both of The Dilenschneider Group, 312-553-0700, for Omega Research/
/Web site: tradestation.com
windowonwallstreet.com
omegaresearch.com /
Companies or Securities discussed in this article: Symbol Name
NASDAQ:EGRP E*TRADE Group, Inc.
NASDAQ:DTLN Data Transmission Network Corporation
NASDAQ:OMGA Omega Research
NASDAQ:LINE onlinetradinginc.com corp.
NASDAQ:DBCC Data Broadcasting Corporation
NASDAQ:HYPR HyperFeed Technologies, Inc.
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