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Non-Tech : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (477)	3/3/1999 11:03:00 AM
From: ratan lal	Respond to of 16809

sounds like bad news for NDB Damn I bot this POS at 41 and held on hoping someone would buy it. Now I am in it forever, I think.

To: Henry Volquardsen who wrote (477)	3/3/1999 12:05:00 PM
From: mod	Read Replies (1) \| Respond to of 16809

Some more details. Note that Wit has gone from an 85 person firm 2 days ago to a 90 person firm today (it was 75 a month ago). I have seen a demo of the Digital Trading Facility and it is WAY COOL! Traders are going to love it. No more market makers or spreads, trade direct with other people. Want a better price? Up pops a chat window where buyers and sellers can negotiate a price satisfactory to both. ------------------------------------------------ WIT CAPITAL TAPS FORMER CEO OF NATIONAL DISCOUNT BROKERS, EVERETT LANG,TO Head Implementation and Launch of Digital Trading Facility NEW YORK, March 3 /PRNewswire/ -- Wit Capital Corporation, the pioneer online investment banking firm, today announced that prominent brokerage industry veteran Everett Lang has joined as president of its Digital Trading Facility. Dr. Lang joins Wit Capital from his position as CEO of National Discount Brokers. He will be responsible for the design, implementation, launch and operation of the Digital Trading Facility, which is to be launched in mid-1999. Dr. Lang will report directly to Ronald Readmond, Wit Capital Corporation's president and COO. The Digital Trading Facility continues to extend Wit Capital's mission of empowering the individual investor. Eventually slated to operate 24 hours a day/ seven days a week, the Digital Trading Facility will initially allow individuals to trade Nasdaq and listed stocks after the markets have closed. More importantly, the interactivity between buyer and seller allows individuals to place limit and conditional orders directly with each other, thus avoiding the spreads imposed by market intermediaries. "Wit Capital's launch of the first Digital Trading Facility will be an enormous breakthrough in our efforts to revolutionize Wall Street for the digital age," commented Wit Capital president and COO Ronald Readmond. "Everett is an innovator and a pioneer in the discount brokerage industry. His tremendous knowledge of the retail industry and his proven willingness to break new ground make him ideal to lead us forward with another important platform for individual investors." Dr. Lang has long been a driving force in the brokerage industry. He helped create BT Brokerage Corporation, a New York Stock Exchange Institutional Broker and a wholly owned subsidiary of Bankers Trust Company. He was elected president in 1990 and chairman and CEO in 1991. He led National Discount Brokers to market in January 1994 and introduced the concept of "Flat Fee" trading to consumers. This new pricing strategy caused a paradigm shift in the discount brokerage industry. In addition to his role as president, he assumed the additional title of CEO of National Discount Brokers in December 1995. He founded the Discount Brokerage Association in 1995, which was recently assimilated into the Securities Industry Association as a committee. He currently serves as co-chairman of that committee. Dr. Lang received his master's and doctoral degrees from the University of Virginia, and a BS from Boston University. "I am eager to become a part of the dynamic executive team at Wit Capital and head an effort of such major impact," Dr. Lang stated. "The practice of individual investors trading after hours and directly with each other has until now been impractical. The advent of the Internet has facilitated a new paradigm permitting after hours trading among retail investors. With the launch of the Digital Trading Facility, Wit Capital becomes the leader in this new initiative." About Wit Capital Since September of 1997, Silicon Alley based Wit Capital has participated in more than 50 major stock offerings. The 90-person firm has recently served as a co-manager designated as e-Manager(TM)or syndicate member in a series of high profile Internet IPOs, including transactions for MarketWatch.com, EarthWeb, uBid, TicketMaster Online-City Search and XOOM.com. The firm also has a ten person private equity group. Wit Capital is a registered broker-dealer and member of NASD and SIPC. Its web address is witcapital.com. SOURCE Wit Capital Corporation -0- 03/03/99 /CONTACT: Curtis Hougland, curtis@middleberg.com, or Sarah Clark, sarah@middleberg.com, both of Middleberg + Associates, 212-888-6610, for Wit Capital/ /Web site: witcapital.com CO: Wit Capital Corporation ST: New York IN: FIN MLM SU: PER