E*TRADE Launches Powerful New Tools for Active Traders
PR Newswire - November 17, 1998 08:40
Power E*TRADE(R) Helps Individual Investors to Level The Playing Field With Institutional Traders
PALO ALTO, Calif., Nov. 17 /PRNewswire/ -- E*TRADE Group, Inc. (Nasdaq: EGRP), the provider of a leading branded destination Web site for online investors, today announced the launch of Power E*TRADE(R), an innovative program that will help to level the playing field between active on-line investors and institutional traders. Power E*TRADE provides active traders at no additional charge with a powerful suite of priority services and investor tools, including a single trading desk screen that combines transactional capabilities with real-time portfolios, the status of trades, and trading account portfolio balances and positions. E*TRADE's most active traders also will have free access to streaming Level II quotes of all Nasdaq stocks.
A comprehensive solution for active traders, Power E*TRADE also includes priority customer service, priority e-mail, and continuous access to analyst research, buy and sell recommendations and market insights to assist in making trading decisions. Power E*TRADE will be driven by E*TRADE's proprietary Stateless Architecture (SM) to maximize access, speed and reliability.
"E*TRADE recognizes that individual investors have differing requirements for online services, in part based on the level and frequency of their trades. Power E*TRADE gives active traders an edge in identifying and responding quickly to market events and information," said Christos M. Cotsakos, President and Chief Executive Officer of E*TRADE Group, Inc. "No tool is more important to active traders than immediate, real-time access to information about quotes, their trades and their trading accounts. Their focus is on making more money, not just on saving on commissions. Power E*TRADE provides active traders with the critical tools through a single, easy-to-use "trading desk" interface."
Developed in conjunction with some of E*TRADE's most active traders, Power E*TRADE is available free of charge to investors who make at least 30 trades per quarter. The Power E*TRADE program includes:
* A consolidated trading desk page, offering real-time quotes, positions and trade status
* Continuous updates on account balances throughout the trading day (beginning in December)
* Real-time access to research and recommendations from analysts at BancBoston Robertson Stephens before the market opens
* Access to a priority customer service hotline and priority e-mail
* Exclusive, live active trader discussion groups
E*TRADE's most active traders, those who make at least 75 trades per quarter, will receive additional benefits under a Platinum Power E*TRADE program. These include free access to:
* E*TRADE's The Pulse service, powered by Bridge Information Systems, which provides real-time, streaming quotes, portfolios and watch lists and in-depth same-day market analysis and market reports throughout the day
* Streaming Level II quotes, showing all of the bids, asks and matches on Nasdaq stocks in an investor's portfolio
* Priority access to subscribe to IPO's
"Power E*TRADE is a terrific new program for active traders like me," said Gene Linetsky, a current E*TRADE customer and early user of Power E*TRADE's Platinum service. "I especially like the Level II quotes on The Pulse because I can see all current bids and offers from every market maker for each Nasdaq security.
"As far as I'm concerned, Power E*TRADE is a must-have for active traders," Linetsky continued. "I like the trading desk cockpit and real-time positions. I sometimes trade up to 10 times a day, and I can now see at a glance all the orders I've executed, as well as those I'm waiting to place. I always know where I stand."
"Power E*TRADE's trading desk is a powerful decision support tool for investors. Our active traders will know where they stand at every minute. The trading desk is in constant motion as quotes, account balances and trade status reports are updated continuously throughout the day," said Cotsakos.
New customers can qualify for the Power E*TRADE program within 48 hours simply by calling or emailing E*TRADE. Once the registration process has been completed and trading histories have been reviewed, customers can immediately begin to experience the many benefits of Power E*TRADE.
"Power E*TRADE
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