Track Data Announces the Addition of Futures Trading to Its myTrack Service

Business Wire, Nov 12, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 12, 2001

Track Data Corporation (Nasdaq-NMS: TRAC) today announced that it has added futures trading to its myTrack online trading service.

Initially, the stock index futures contracts myTrack members will be able to trade are the ones traded electronically -- the E-Mini S&P 500 and the E-Mini Nasdaq 100, with the FORTUNE e-50 and the Russell 2000 E-Mini coming soon. Next year, when the SEC begins allowing individual stock futures to trade in the U.S., members will be able to trade them through myTrack.

"Futures will eventually become part of most traders' balanced portfolios," said Barry Hertz, Track Data Chairman and CEO. "Most investors now split their assets into a certain percentage of equities, bonds, and cash; we believe futures will become a part of the equation. The E-Minis offer a number of advantages over the securities traditionally traded by individuals, including substantial leverage. They also lack some of the disadvantages active traders are now facing, including decimalization issues, liquidity issues, and Pattern Day Trader account requirements, such as the $25,000 minimum account requirement. Due to their risk levels, futures are not suitable for all investors, but we expect them to continue to increase in popularity."

myTrack continues to offer online trading in stocks, options, and mutual funds. myTrack is a direct access broker that offers investors the opportunity to direct where their equity and options trades are routed. To open a trading account, go to http://www.mytrack.com or call 1-800-myTrack.

Track Data is a New York-based financial services company that provides real-time financial market data, news, and research to institutional and individual investors through dedicated telecommunication lines and the Internet.

For individual investors, Track Data Securities offers myTrack, a fully integrated, Internet-based online trading and market data system. myTrack's direct access online trading has equity commissions starting at $12.95 per trade and allows users the choice of where to route their orders. myTrack's continuous, dynamic stream of live market data is powered by application-based software and a constant server connection similar to systems used by professionals, making it faster than the HTML web-based static pages offered by most of its competitors, such as Schwab (NYSE: SCH), E*Trade (NYSE: ET), and TD Waterhouse (NYSE: TWE). myTrack supplies free market data to its brokerage account holders: streaming delayed quotes, company news, charting for technical analysis, and a proprietary library of intra-day market statistics. In addition, myTrack offers users a selection of paid data and research, including streaming real-time quotes, Nasdaq Level II, and Pink Sheets Level II. myTrack offers access through PCs, browser phones, and PDAs, such as Palm Organizers (made by Palm Inc. (Nasdaq: PALM)) and Visors (made by Handspring (Nasdaq: HAND)).