To: SSP who wrote (20963 ) 1/20/2000 11:28:00 AM From: Jim Bishop Read Replies (1) | Respond to of 150070
NEW YORK--(BUSINESS WIRE)--Jan. 20, 2000--Track Data Corporation (Nasdaq NMS: TRAC - news) announced today that it has agreed to acquire a 10% interest in FlexTrader.com in exchange for 400,000 shares of Track's common stock. The companies also agreed to market their services to their respective members. The closing of the transaction is subject to customary terms and conditions. The companies previously announced a joint effort to create a wireless trading platform for Track's myTrack online trading system. The system will be able to offer myTrack users one-touch wireless trading, initially using the RIM Interactive pager and later using other portable devices, to connect to myTrack's state-of-the-art trading platform using FlexTrader.com's WAP (wireless application protocol) enabling technology. FlexTrader.com's website was launched in November 1999 and is already registering more than 200 members every day. Under the agreement, all of FlexTrader.com's members will be pre-registered to Track's myTrack online trading and market data system. Track will offer to its members the valuable market information offered by FlexTrader.com. Track Data's Chairman and CEO, Barry Hertz, said, ''We are very excited about this opportunity to invest in FlexTrader.com. This investment continues our efforts to make strategic investments in Internet companies that complement our business, increase our membership and afford our stockholders the potential upside in any future IPO's of these companies. We have made three other investments since our successful investment with Edgar Online.'' Larry Rubin, Chairman of FlexTrader.com, said, ''We believe that this is a key strategic development for FlexTrader.com. It is important to have the full attention from a partner like Track Data who can assist us in achieving our full growth potential by using our proprietary WAP enabling technology.'' FlexTrader.com (www.flextrader.com) is a privately held company, based in New York City, that offers novice and experienced investors customized investment research tools, providing access to the most comprehensive, easy-to-use financial information management system available on the Web today. FlexTrader.com's subscribers have free access to over 20 proven technical trading systems that can be back-tested, as well as detailed graphing and charting, market news and fundamental research. FlexTrader.com provides its subscribers with buy/sell alerts through email and wireless devices such as the RIM Interactive pager. Prior to the creation of FlexTrader.com, this type of information had only been available to professional brokerage firms. Track Data provides real-time financial market data, news, fundamental research, charting and analytical services to institutional and individual investors through dedicated telecommunication lines and the Internet. The Company also offers online trading through its myTrack Internet-based personal investment service. myTrack is an Internet-based software application that is not restricted by the limitations of an HTML website-based static system offered by virtually all of its well-known competitors such as E*Trade (Nasdaq: EGRP - news), Schwab (NYSE: SCH - news) and Ameritrade (Nasdaq: AMTD - news). myTrack delivers a continuous dynamic stream of live market data and investors' online trading activity. The system is always connected and is an order of magnitude faster than competing website-based systems. Download myTrack software or open a trading account at mytrack.com or call 1-800-myTrack. For information about myTrack's SDK, go to mytrack.com . Additional information on Track Data may be obtained by contacting Laurel Louison, Investor Relations, at 718-522-7373 or by e-mail: laurel_louison@tdc.com. Editor's note: The character in between the ''E'' and the ''T'' in E*Trade is an asterisk and may not show up on certain databases. Contact: Track Data Laurel Louison, Investor Relations 718-522-7373 laurel_louison@tdc.com