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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: TFF who started this subject	5/29/2002 6:26:26 AM
From: supertip	of 12617

Siebert Financial Buys Accts From TradeStation Securities A predecessor company of TradeStation, OnlineTrading.com, bought the brokerage accounts from Newport Discount Brokerage Inc. in late 1999 for $2.7 million, plus stock. At the time, the accounts represented 7,700 customers and $470 million in customer assets. A few months later, OnlineTrading merged with Omega Research Inc. to form TradeStation. Siebert said in a press release Tuesday that the all-cash purchase price wouldn't be disclosed. The New York financial services company said in a May 15 Securities and Exchange Commission filing that it used about $4.3 million in combined working capital toward the TradeStation transaction and a recently announced a marketing alliance with Intuit Inc. (NasdaqNM: INTU - News) . Siebert representatives couldn't be reached Tuesday for an estimate of the TradeStation customer assets acquired in the deal, which closed May 8 . TradeStation Chief Financial Officer David H. Fleischman declined to provide the purchase price or estimate the value of the assets in the agreement.

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