NEWS RELEASE
Track Data’s TRACK ECN GOES
SELF-CLEARING
BROOKLYN, NY—August 29,
2005—Track Data Corporation (NASDAQ: TRAC) announced that
its Track ECN (Market Participant ID:
“TRAC”) has begun self-clearing as of today. Track Data’s broker-dealer subsidiary, Track Data Securities
Corp., continues to clear its non-ECN business through Penson Financial
Services, Inc.
“Our pricing policy allows traders to take away
liquidity directly from our book for only $2.50 per thousand shares, so we need
to cut our operating costs to the bone,” said Joe Schultz, Vice President of
Track ECN. “Self-clearing
was an important piece of our plan to keep costs down to enable us to continue
to offer our subscribers a combination of a high rebate and a low takeout fee.”
TRACK ECN PRICE SCHEDULE FOR
NASDAQ SECURITIES
Order Type Rebate
for Adding Liquidity Fee
for Taking Liquidity
(per
thousand shares) (per
thousand shares)
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).
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.
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Contact:
Rafi Reguer
Vice President, Corporate Communications
Track Data Corporation
718-522-0222
Rafi_Reguer@trackdata.com