Some competition-- Free Level-II from Watley
marketwatch.newsalert.com
A.B. Watley's Free Nasdaq Level II Service Creates Record Account Growth
Business Wire - November 19, 1999 09:18
NEW YORK--(BUSINESS WIRE)--Nov. 19, 1999--A.B. Watley Group Inc. (NASDAQ: ABWG), premier provider of online and institutional trading services through its brokerage firm A.B. Watley, Inc. (www.abwatley.com), today announced the Company's new UltimateTrader Free product and campaign has so far produced record account growth for its first quarter of fiscal 2000.
The firm continues to make significant inroads into the acquisition of the most active investing segment of the online trading community.
On September 21, 1999 the Company launched UltimateTrader Free, an online trading platform offering free realtime streaming Nasdaq Level II data, integrated order entry and no minimum trade requirements. This new service is available with an opening balance of $10,000.00 in cash and/or equities.
"We have had a fantastic response to our UltimateTrader Free product, experiencing a 300% increase in new account acquisition since we launched," said Lisa Cullity, Vice President of Sales and Marketing at A.B. Watley Group Inc. "Going forward, we look for the continued success of the product as we further expand our marketing efforts into television and other media. We are very confident that the significant resources we put towards infrastructure building are paying off in terms of sales force automation and increased efficiency."
UltimateTrader Free offers the following features:
-- Dynamically updating, realtime Nasdaq Level II screens with
integrated order entry.
-- Dynamically updating realtime intraday and historical charts,
with over 40 different analytical tools.
-- Dynamically updating realtime position minder.
-- Dynamically updating realtime buying power.
-- Dynamically updating realtime stock tracker and portfolio
monitor.
ABOUT A.B. WATLEY GROUP INC.
A.B. Watley Group Inc. is the parent Company of A.B. Watley, Inc., a multifaceted, technological and service-oriented brokerage firm offering two proprietary online trading systems, UltimateTrader(R) and WatleyTrader(TM), that provide realtime data feed and instantaneous execution for the most active segment of the online trading community. The A.B. Watley, Inc. Institutional Sales and Trading Division specializes in the execution of complex and sensitive large-block equity transactions for institutions, major investment managers, insurance companies, banks, and high net worth individuals. Under its former name, Internet Financial Services Inc., the Company completed its initial public offering of 2,300,000 shares of common stock on April 20, 1999.The company recently reported record 1999 fiscal year end revenues of $20,987,613, an increase of 130% from fiscal year 1998. A.B. Watley Group Inc.'s competitors include Etrade (NASDAQ: EGRP), Charles Schwab (NYSE: SCH), Ameritrade (NASDAQ: AMTD), TD Waterhouse (NYSE: TWE), DLJ Direct (NYSE: DIR), and National Discount Brokers (NYSE: NDB).
SAFE HARBOR STATEMENT
Certain statements contained herein, including statements regarding the development of services and markets and future demand for services and other statements regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). Any number of conditions may occur which would materially affect important factors in this analysis and materially change expectations. These factors include, but are not limited to, customer trading activity, loss of one or more significant customers, change in technology, shifts in competitive patterns, ability to manage growth effectively, risks associated with acquisitions including integration risks, risks associated with strategic partnerships, various project-associated risks, substantial competition, general economic conditions, risks associated with intellectual property rights, risks associated with international operations and other risk factors listed from time to time in A.B. Watley Group Inc.'s filings and reports with the Securities and Exchange Commission.
CONTACT: A.B. Watley Group Inc., New York
William Arnold, 212/422-1664 ex 5825
warnold@abwatley.com
Kevin Kelly, 212/422-1664 ex 5826
kkelly@abwatley.com
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