
NEWS
RELEASE
Track Data’s TRACK ECN ADDS
TRADE DESK AMERICA AS A SUBSCRIBER
BROOKLYN, NY—August 8,
2005—Track Data Corporation (NASDAQ: TRAC) today
announced that its Track ECN (Market Participant ID: “TRAC”) has added FD de Leeuw’s & Associés, Inc., Trade Desk
America as a new subscriber. The signup
is the latest addition to Track ECN’s roster of clients that has been growing
since the announcement of Track’s new pricing policy, which allows traders to
take away liquidity from its book for only $2.50 per thousand shares.
“When you’re offering an institutional trading
platform, you need to offer direct access to all the major marketplaces,” said Francis de Leeuw, CEO, FD
de Leeuw’s & Associés, Inc. “It’s
not just about the low takeout price, it’s about giving our traders direct
access. As Track ECN adds more and more
customers, its liquidity pool grows—there’s no reason to go to a third party to
access that liquidity. It’s faster and
cheaper to go direct.”
“Hit us first and cut out the middleman,” said
Joe Schultz, Vice President of Track ECN.
“Why would you pay $3.00 for the same thousand shares you could have
gotten for $2.50?”
When you send your order directly, Track ECN
will first sweep its book, charging you $2.50 per thousand shares for the
liquidity you take. Then, if Track ECN needs to route out part or all of your
order, the ECN will charge you $3.00 per thousand shares routed out.
TRACK ECN PRICE SCHEDULE FOR
NASDAQ SECURITIES
Order Type Rebate
for Adding Liquidity Fee
for Taking Liquidity
Internal Match $2.30 $2.50
Other Match $2.70 $3.00
The $2.50 per thousand shares takeout fee is available on all
orders sent through a “direct connection” to Track ECN, even orders from
non-subscribers. “Direct connection” excludes orders sent through third parties, such as
other ECNs, Nasdaq's SuperMontage, or any other Exchange. You must be a subscriber to get the rebate
for adding liquidity.
Additional information about Track ECN’s price schedule can be obtained at the ECN’s web site, http://www.trackecn.com, or by calling Joe Schultz at 1-718-260-4282.
ABOUT
TRACK ECN
Track ECN competes with six other ECNs, down from a dozen when Track ECN commenced business. The three largest competitors are Archipelago (Pacific: AX), Instinet (Nasdaq: INGP) and Nasdaq/Brut (Nasdaq: NDAQ).
ABOUT THE COMPANIES
FD de Leeuw & Associés, Inc., Trade Desk America is a stock brokerage firm that was established in 1997 to provide market executions services to institutional clients. In the electronic age, its focus is highly centered on modern access networks to the financial market places and making them accessible from any computer. Dealing in international investments with clients around the globe, FD de Leeuw & Associés, Inc has gained an expertise in customizing trading solutions around the world.
Track Data Corporation
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.
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
under a service bureau arrangement as an execution platform.
For individual investors, Track Data Securities offers myTrack and TrackTrade, both fully integrated, Internet-based online trading and market data systems. Each platform offers direct access online trading, allowing users the choice of where to route their equity and options orders. myTrack and TrackTrade offer continuous, dynamic streams of live market data powered by application-based software and a constant server connection similar to systems used by professionals.
For all investors, the Company’s NewsWare division offers NewsWatch, a PC-based application that aggregates news from thousands of sources. Featuring real-time full text filtering and complex queries, its real-time alerting functions allow users to choose topics of interest and be among the first to know when news breaks.
# # #
Contact:
Rafi Reguer
Vice President, Corporate Communications
Track Data Corporation
718-522-0222
Rafi_Reguer@trackdata.com