CyBerCorp.com Enters the Top Ten of Online Brokers While Recognized as The Fastest Growing E-broker
AUSTIN, Texas, Nov. 9 /PRNewswire/ -- CyBerCorp.com's trading volume during 3rd Quarter 1999 has vaulted it into Top 10 ranks of all Online Brokers and made it the fastest growing Online Broker in the US according to two recent industry reports. U.S. Bancorp Piper Jaffray as well as Hambrecht & Quist report that trading volumes among online brokers fell by up to 15% in the third quarter while CyBerCorp.com's trading volumes increased 67%. This report secures CyBerCorp.com the 9th ranking in the Piper Jaffray report and the 10th spot according to Hambrecht & Quist.
''This is a huge achievement and milestone for us and we are absolutely thrilled to be recognized in this way,'' says Philip R Berber, Founder and CEO of CyBerCorp, Inc, parent of CyBerCorp.com. ''It validates the strategy that we have believed in, the technology that we have built and the integrity in our customer relationships. It's also a fitting tribute to the commitment, effort and energy that has been put in by so many people here at CyBerCorp over the past number of years,'' he says.
Berber said CyBerCorp.com's entry into the Top 10 would come as a surprise to many. ''Rather than spend millions of dollars on advertising to capture any and all accounts, CyBerCorp.com invests in developing next generation, high speed, direct access, 'intelligent' electronic trading technology and focuses on the needs of active online traders and on building up the number of transactions,'' says Berber. ''On average CyBerCorp.com's clients generate the same number of transactions per day that other better known online brokers see from their customers in a year!'' he added.
Active online traders using the CyBerX and CyBerTrader technologies have largely fueled CyBerCorp.com's growth. ''These traders started telling others about us within electronic communities, bulletin boards, chartrooms and threads,'' says Berber.
CyBerCorp's technology was designed to deliver faster, smarter and better executions over the Internet compared to the current first generation e-mail systems, that many household name brokers are currently offering online. The ''intelligent'' order routing technology is designed to ''hunt and seek'' for the best price among all market makers and ECNs and to direct the order to the optimal counter parties offering the best price in the open market.
Indeed, the Wall Street Journal (Monday, Nov. 8, Page C6) report that ''A small, but growing class of active investors are fueling firms like CyberCorp Inc., Austin Texas, whose brokerage units promises direct electronic access to the markets.'' The article notes that CyBerCorp does not accept ''payment for order flow,'' a practice done ''at the expense of quality executions,'' according to SEC Chairman Arthur Levitt.
The company has also benefited from entering into over a dozen partnerships and alliances over the past six months, including those with, Data Broadcasting Corp., Telescan, PC Quote.com, DTN and Quote.com.
''We are not one to follow the crowd,'' says Berber. ''We started designing and developing the technology four years ago and have continued to innovate in this area since. The marketing and business approach that we have taken to date has also been very different.'' CyBerCorp.com is an Internet player that is making money, which has focused on building a business as opposed to trying to catch the IPO wave. Without the use of Venture Capitalists, CyBerCorp invests in the next generation of electronic trading and execution technology over the Internet rather than on mass market advertising campaigns.
''The benefits of using CyBerCorp's third generation, direct access, intelligent order routing technology is well understood by market professionals, both on Wall Street, in Silicon Valley and by active traders,'' says Berber ''and such technology will become widely used by millions of retail and institutional investors over the coming months and years.''
About CyBerCorp
Founded in December 1995 in Austin, Texas, CyBerCorp, Inc., is an electronic trading technology and brokerage services group, which designs and develops the leading electronic trading software for professional electronic traders. Orders placed with CyBerCorp's software are routed to the company's wholly owned subsidiary, CyBerCorp.com, where using CyBerCorp's ''SuperECN'' (CyBerXchange), the orders are forwarded to the optimal party in that moment. More than 2,000 active traders use CyBerCorp's technology, either online from their home and offices or from one of 51 trading rooms operated by third party broker dealers. Combined, these traders execute around 20 million shares a day through CyBerCorp's Technology. CyBerCorp's Web site is cybercorp.com.
CyBerCorp.com is a division of CyBerBroker, Inc., a wholly owned subsidiary of CyBerCorp, Inc. Member NASD, SIPC
For Media inquiries please contact: Trey Robinson, Communications Manager, CyBerCorp, Inc. trobinson@cybercorp.com - direct dial 512-682-7619
SOURCE: CyBerCorp, Inc. |
