Track Data Launches TrackTrade
Thursday July 10, 10:47 am ET
Equity Trades at a Flat Rate of 1/2 Penny Per Share
Lowest Commissions of Any Retail Direct Access Platform
BROOKLYN, N.Y.--(BUSINESS WIRE)--July 10, 2003--Track Data Corporation (NASDAQ: TRAC - News) today announced the launch of TrackTrade, an advanced, feature-rich trading platform for active traders, with the lowest commissions of any retail direct access platform. Nasdaq and listed equity trades are 1/2 penny per share, flat rate, with no ECN fees. Option trades are $1 per contract and e-Mini futures are $2.30 per contract.
COMMISSION 50% LESS THAN TRADESTATION AND INTERACTIVE BROKERS
TrackTrade is a software-based, direct access trading platform that competes directly with low-cost firms such as TradeStation and Interactive Brokers. By comparison, on a trade of 500 shares of a Nasdaq stock, TrackTrade's commission is at least 50% lower than the commissions charged by TradeStation and Interactive Brokers.
THE BEST COMBINATION
TrackTrade is designed for active traders looking for a combination of:
an advanced, feature-rich platform
solid customer service
the lowest commission rates of any direct access platform
"Our offering is the best combination on the market," said Barry Hertz, CEO of Track Data, "because it offers such low commissions on equities, options, and futures and still allows individual investors to have a sophisticated piece of software modeled after professional trading platforms. TrackTrade will have tremendous appeal to active traders, who will enjoy a robust, customizable platform that will probably save them hundreds or thousands in commissions a month, even if they're already with a low-cost brokerage firm."
COMMISSION DETAILS AVAILABLE ON THE WEB OR BY PHONE
TrackTrade has a minimum commission of $1.00 for equities and $10.00 for options. Trading in OTC BB and Pink Sheets stocks and mutual funds is available on TrackTrade --details can be obtained on the web site, tracktrade.com or by phone at 1-877-99-TRACK. TrackTrade requires a minimum deposit of $30,000 to open an account and has a monthly software fee of $99 (waived for active traders), plus exchange fees.
ABOUT THE COMPANY
Track Data is a New York-based financial services company that provides direct access brokerage, real-time financial market data, news, and research to institutional and individual investors through dedicated telecommunication lines and the Internet.
For professional investors, Track Data Securities offers proTrack, a direct access trading platform with fully integrated market data. proTrack offers unbiased trade routing, allowing clients control over where their orders are sent. proTrack is also available to broker-dealers as an execution platform.
The Company also owns and operates the Track ECN, an electronic communications network that allows traders to display and match limit orders for stocks. Track ECN offers subscribers a Rebate Model, which offers the highest published rebate in the industry and a Free Model, which offers no access fees to market participants who access its liquidity through Nasdaq's SuperMontage. Because of its no access fee, the Free Model is offered in Nasdaq's first tier with market makers, providing subscribers with fast executions. Track ECN offers subscribers anonymous executions and speed.
For individual investors, Track Data Securities offers myTrack and TrackTrade, both fully integrated, Internet-based online trading and market data systems. Each platform offers direct access online trading, allowing users the choice of where to route their equity and options orders. myTrack and TrackTrade offer continuous, dynamic streams of live market data powered by application-based software and a constant server connection similar to systems used by professionals, making them faster than the HTML web-based static pages. In the field of discount brokerage, Track competes with TradeStation (Nasdaq: TRAD - News), Interactive Brokers, Schwab (NYSE: SCH - News), E*Trade (NYSE: ET - News), Ameritrade (Nasdaq: AMTD - News), and TD Waterhouse (NYSE: TD - News).
For information about TrackTrade, please call 1-877-99-TRACK or consult the web site, tracktrade.com |
