Track Data
RETAINS MARK SECURITIES CORP.TO BOOST OTCBB BUSINESS ON TRACK ECN
NEW YORK, NY—February 11, 2003—Track Data Corporation (NASDAQ: TRAC) today announced it has retained Mark Securities Corp. to promote Over-The-Counter Bulletin Board (OTCBB) business on Track ECN.
The project to increase OTCBB traffic will be headed by K. Richard B. "Nick" Niehoff, President of Mark Securities. Mark Securities sponsored WEBIXTRADER, among the first ATS’s (Alternative Trading Systems) authorized to trade OTCBB securities.
"OTCBB traders still haven’t received the advantages of the electronic marketplace," said Mr. Niehoff. "Track ECN will increase market efficiency, which traders are bound to appreciate."
"Track ECN has the trading technology and Mark Securities has the experience and the contacts," said Rod Covlin, EVP of Track ECN. "It’s a perfect fit. Nick’s experience is going to help us a lot."
Prior to joining Mark Securities, Nick Niehoff was the President and COO of the Cincinnati Stock Exchange. He was also a founding executive officer of NASDAQ’s Trading Services Division, and President of WEBIXTRADER ATS.
ABOUT THE COMPANIES
Track Data
is a New York-based financial services company that provides direct access brokerage, real-time financial market data, news, and research to institutional and individual investors through dedicated telecommunication lines and the Internet.proTrack
For professional investors, Track Data Securities offers proTrack, a direct access trading platform with fully integrated market data. proTrack offers unbiased trade routing, allowing clients control over where their orders are sent. proTrack is also available to broker-dealers as an execution platform.
Track ECN
PRICE SCHEDULE FOR "TRAC," THE REBATE MODEL
For OTCBB securities:
Orders That Adds Liquidity $2.00 Per Thousand Shares Charge ($2 Min./$20 Max.)
Others Orders $2.00 Per Thousand Shares Charge (plus any pass-through fees)
For NASDAQ securities:
Orders that add liquidity $2.30 per thousand shares REBATE
Orders that remove liquidity $2.90 per thousand shares CHARGE
TRACK ECN’S OTHER PRICING MODEL, "DATA," THE FREE MODEL
In addition to the Rebate Model described above, Track ECN has recently introduced a second pricing model offering free access to market participants. Under Market Participant ID "DATA," Track ECN posts orders and does not charge an access fee to those who take away liquidity through NASDAQ. Using the Free Model, subscribers can display bids and offers in the first tier with the Market Makers (as opposed to the second tier, with those who charge an access fee).
Both the Rebate Model and the Free Model of Track ECN offer subscribers anonymous executions, speed, and participation in NASDAQ’s SuperMontage. Further information about Track ECN is available by telephone at 1-888-287-8832 or by visiting http://www.trackecn.com
Mark Securities is a registered broker/dealer and member of the NASD (National Association of Securities Dealers).
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Contacts:
Track Data Corp.
Rafi Reguer
Vice President, Marketing and Corporate Communications
718-522-0222
Rafi_Reguer@trackdata.com
Mark Securities
Nick Niehoff
President
914-552-6889