TRACK DATA ANNOUNCES ADDITION OF INVESTEC ERNST & CO.
FOR OPTION TRADE EXECUTIONS THROUGH ITS myTrack SERVICE
New York, NY- July 27, 2000 - Track Data Corporation
(Nasdaq-NMS: TRAC) today announced that it has added Investec
Ernst & Company as a routing destination for option trades
placed through its myTrack Internet-based online trading
service.
With the latest version of myTrack, Version 4.2, members
can route option trades to Investec Ernst, where they can:
-- specify the option market to which they want their trade
to go (e.g. AMEX, CBOE, etc.)
-- place stop market orders
-- place stop limit orders
Barry Hertz, Chairman and CEO, commented, "Providing
alternatives and empowering our members to choose is a high
priority for myTrack. Routing to Ernst delivers on this
mandate."
"We are delighted to be selected by myTrack as a routing
destination for equity and index options," said Frank A.
Magnani, Senior Vice President of Investec Ernst & Company.
"Investec Ernst & Company is represented on the American
Stock Exchange, Chicago Board Options Exchange, Pacific
Exchange, and maintains a strategic alliance on the floor
of the Philadelphia Stock Exchange. Investec Ernst offers
options executions and clearance to a broad selection of
retail and institutional broker-dealers in the United States
and abroad."
ABOUT THE COMPANIES
Track Data is a New York-based financial services company
that provides real-time financial market data, news, and
research to institutional and individual investors through
dedicated telecommunication lines and the Internet.
For individual investors, Track offers myTrack, a fully
integrated, Internet-based online trading and market data
system. myTrack's online trading has commissions starting
at $12.95 per trade and allows users the choice of where to
route their orders. myTrack's continuous, dynamic stream of
live market data is powered by application-based software
and a constant server connection similar to systems used by
professionals, making it faster than the HTML web-based
static pages offered by most of its competitors, such as
National Discount Brokers (NYSE:NDB), E*Trade (Nasdaq: EGRP),
and TD Waterhouse (NYSE: TWE). In addition to all the free
data supplied to myTrack users-streaming delayed quotes,
company news, charting for technical analysis, and a
proprietary library of intra-day market statistics-myTrack
users can choose from a selection of paid data and research,
including streaming real-time quotes and Nasdaq Level II.
myTrack offers access through PCs, browser phones, and PDAs,
such as Palm Organizers (made by Palm Inc. (Nasdaq: PALM))
and Visors (made by Handspring (Nasdaq: HAND)).
myTrack offers the first week of trading commission-free.
To open a trading account, go to mytrack.com or
call 1-800-myTrack.
For additional information, please contact Laurel Louison,
Investor Relations, at 718-522-7373 or by e-mail:
laurel_louison@tdc.com.
Investec Ernst & Company offers clearing, settlement, and
execution services to retail and institutional broker-dealers,
money managers, banks, hedge funds, "upstairs" professional
traders and financial institutions worldwide. Since the
acquisition of Ernst & Company by the Investec Group in
January 1998, we have refocused our capabilities and are
better able to serve the U.S. market. With increased capital,
we can support more products, and expand our core business
domestically and internationally. We have increased our focus
on developing innovative technology designed to meet the
challenges and competitive nature of the financial industry,
including our new platform called DeskTec, which is available
via dedicated line or the Internet.
Since its inception as a small finance company in 1974, the
development of Investec has followed a carefully charted
course. Based upon the core philosophy of building
well-defined businesses focused on serving the needs of select
market niches, Investec's steady expansion in the years since
then has been firmly rooted in the recognition of a clearly
defined strategy for the Group. Today, the Investec Group
spans 12 countries and has a worldwide staff of 4,500
employees.
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