Now this is BIG Business !! Employee Stock Option Management for Companies that have them
I have been urging ETrade to offer this service--Now they did it- Do I hear 10 fathoms ?? ;-)
marketwatch.newsalert.com
E*TRADE Further Diversifies Revenue Streams With Launch of Enhanced Employee Stock Plan Management Solutions
PR Newswire - November 05, 1999 06:16
E*TRADE's Business Solutions Group Announces Second Generation OptionsLink; Upgrade Provides Corporations With the First and Only End-to-End Software And Internet Tools That Help Employees Manage Their Personal Financial Futures
MENLO PARK, Calif., Nov. 5 /PRNewswire/ -- The E*TRADE Business Solutions Group (BSG), a leader in employee stock plan management solutions, today debuted the next generation of its product line designed to help companies more efficiently manage their employee equity compensation plans. E*TRADE's Business Solutions Group has over 3,000 corporate clients, including Oracle, Whole Foods, Applied Materials, Value America and Ask Jeeves. The company provides stock plan solutions to over 70 percent of Fortune Magazine's "Top 100 Companies to Work For."
"The Business Solutions Group, which grew by more than 200 percent in the last year alone, clearly illustrates E*TRADE's strategy of diversifying its revenue streams by serving a growing corporate client base," said Laura Fay, vice president and general manager of E*TRADE Business Solutions Group. "By using the Internet channel, BSG is literally revolutionizing the way companies think about their equity compensation plans."
BSG's next generation product features an enhanced OptionsLink web site, which is the first and only end-to-end software and Internet trading and communications program for managing employee equity compensation plans. The product also includes a multilingual interactive voice response (IVR) telephone trading system and a newly introduced Client Service Center web site for stock plan professionals. The OptionsLink solution enables employees to conduct automated employee stock option and stock purchase transactions while investing online at their convenience. New features include a personalized web site that contains stock option and stock purchase plan financial modeling, as well as tax and vesting information for employees.
"The administration involved in employee stock programs is cumbersome and time-consuming, with increasingly complex reporting obligations. E*TRADE's solutions programs have enabled us to spend our time on core capabilities instead of focusing on tedious administrative details," said Dana Tornbene, human resource director of Value America. "The OptionsLink web site and IVR telephone trading system has allowed us to better connect with our employees, delivering convenient access to customized equity compensation information that enables them to make informed financial decisions."
Through BSG's new Client Service Center, the stock plan professional can integrate with E*TRADE's Equity Edge, an industry-leading stock plan management software. This product enables compensation professionals to fully automate the exchange of stock plan information with OptionsLink through highly secure data delivery over the Internet. It also helps users to download useful software tools and product information.
A leader in the equity compensation market, E*TRADE Business Solutions Group provides an integrated solution that is fully automated, secure and scaleable. The BSG program allows corporations to streamline processes, increase efficiencies and provide employees with the power and convenience to exercise and trade shares online. With extensive technology and e-commerce experience, E*TRADE's Business Solutions Group provides employees with enhanced solutions to manage their own equity compensation positions. According to ZD Market Research's 1999 U.S. Equity Compensation Survey, over 54 percent of all U.S. companies that offer equity compensation programs as part of their employee benefits program use OptionsLink.
The next generation of stock plan management solutions is available now. For more information, go to www.business.etrade.com.
About E*TRADE
E*TRADE, a global leader in online personal financial services, is the world's most-visited online investing site (according to Media Metrics), offering value-added investing and research features, premium customer service and a redundant, proprietary Stateless Architecture infrastructure (patent pending). E*TRADE has continued to extend its customers' financial services experience through the acquisition of Clearstation, a community-based financial analysis site, and its pending merger with Telebanc, the nation's leading branchless bank. E*TRADE has also expanded its value proposition through strategic investments in E*OFFERING, a full-service online investment bank, and Archipelago, a leading Electronic Communications Network (ECN).
E*TRADE plans to expand its global presence by launching branded web sites in the top 20 financial markets worldwide, and has taken a key step toward becoming the first online global trading network with its recently completed acquisition of TIR Holdings. E*TRADE presently serves customers through branded web sites in Japan, the UK, Sweden, France, Australia, New Zealand, and Canada.
E*TRADE has been ranked the number one online brokerage by Gomez Advisors for four out of the last five quarters, Lafferty Information and Research Group, PC Magazine and Smart Computing magazine.
E*TRADE Securities Inc. (Member NASD/SIPC), and its parent company, E*TRADE Group Inc., have offices in Northern California and in other major business centers in the U.S. and worldwide.
Important Notice
E*TRADE is a registered trademark of the company. All other trademarks are properties of their respective owners. The statements contained in this news release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include, but are not limited to, changes in market activity, market acceptance of the Destination E*TRADE web site, anticipated increases in the rate of new customer acquisition, the conversion of new visitors to the site to customers, seasonality, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), system failures, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantages. Further information about these risks and uncertainties can be found in the information included in the annual report filed by the company with the SEC on Form 10-K (including information under the caption "Risk Factors") and quarterly reports on Form 10-Q.
CONTACT: Heather Fondo of E*TRADE Group, Inc., 650-331-5248, or hfondo@etrade.com; or Jennifer Reidy of Blanc & Otus, 415-912-2328, or jreidy@bando.com, for E*TRADE Group, Inc.
SOURCE E*TRADE Group, Inc.
/CONTACT: Heather Fondo of E*TRADE Group, Inc., 650-331-5248, or
hfondo@etrade.com; or Jennifer Reidy of Blanc & Otus, 415-912-2328, or
jreidy@bando.com, for E*TRADE Group, Inc. /
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 136683/
/Web site: etrade.com
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