JULY 2001 TRADE NEWS

News Releases & Products

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Datek Online Introduces Streamer ECN

Datek Online Holdings Corp. has launched Streamer ECN, a provider of free, streaming, real-time stock price information from Electronic Communications Networks (ECNs). This service allows Datek Online to aggregate price information from several leading ECNs, including The Island ECN, RediBook, and Archipelago, which provide significant liquidity in popular Nasdaq stocks. Datek Online customers will continue to have access to the recently launched Streamer version 3.0 quote service. This service includes Level I quotes for Nyse, Nasdaq, and Amex stocks; detailed Level II Nasdaq quotes; automatic customized portfolio tracking; and an applet displaying most-recent trading activity in a given security. The service also provides real-time line graphs that illustrate stock price trends.

In other news, Datek reported that its average time for executing marketable online equity orders in February 2001 was 7.53 seconds. For Nasdaq orders that were marketable upon entry, Datek Online's average execution time in February was approximately 4 seconds. Execution speed is one of the key order routing metrics that Datek Online has begun publishing on its website in advance of disclosure requirements set by the Securities and Exchange Commission (SEC). In calculating execution speed, Datek Online starts the timer when an order enters its processing system. The timer is stopped when a market participant informs Datek that the trade has been executed.

The Sec will require brokers to report by October 2001 the percentage of orders routed to various market participants, including market makers, Electronic Communications Networks (ECNs), floor specialists, and internal trading desks. Brokers also will be required to disclose payments received for order flow.

Datek Online rebates its order flow payments to its customers, to date totaling $2.6 million. In addition, Datek Online has begun reporting monthly data relating to price improvement. Datek Online's monthly reports are available at www.datek.com/bestexecution.

Datek Online Brokerage Services LLC, PO Box 2300, Jersey City, NJ 07303-2300, 800 823-2835, 732 635-7500, fax 201 558-4365, support@datek.com, www.datek.com.

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REAL-TIME QUOTES IN EXCEL

Gilmore Software Development has released ESQuotes 1.2 for Excel. This workbook and extension lets individual investors quickly and easily get real-time quotes for stocks and mutual funds. ESQuotes allows investors to track their equity holdings, in real time, using standard office software that is already installed on most computers. It also lets you access all NYSE, Nasdaq, Amex, and most OTC-listed stocks. Many international stock exchanges are also supported.

New features include instant access to foreign exchanges such as Australia, Canada, France, Germany, Hong Kong, Italy, Spain, and the UK. ESQuotesÕ auto-quoting feature will automatically update data at requested time intervals. The capacity for 200 additional symbols has been added, so more equities can be watched at one time. A new "Major US Indices" page gives an overview of market.

ESQuotes is fast and office-friendly since it has very little network impact. It runs inside Excel and requires no other software to be open on the desktop. A trial copy of ESQuotes is available for download. ESQuotes 1.2 for Windows 95/98/Me/NT4/2000 costs $15 and may be purchased over the Internet.

Gilmore Software Development, PO Box 8, Swanzey, NH 03469, 603 358-3308, fax 603 352-7919, jerry@esquotes.com, www.esquotes.com.

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TRACK DATA ADDS REAL-TIME PINK SHEET QUOTE FEED TO MYTRACK

 Track Data Corporation announced that it is offering individual investors a real-time quote feed for Pink Sheets quoted stocks. The Real-Time Pink Sheets Feed provides myTrack members with price quotes in more than 3,000 securities, ranging from small emerging growth companies to ADRs of large foreign companies. myTrack's new Real-Time Pink Sheets Feed will offer members two levels of data:
 
  • Pink Sheets Level One Service: Inside quote--best bid and best ask (prices and size). Price: $5 per month.

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  • Pink Sheets Level Two Service: The full montage of all market maker quotes (market maker ID, prices, size and update time) as well as the inside quote. Price: $15 per month.


    • Pink Sheets Electronic Quotation Service is provided to myTrack by Pink Sheets Llc. There are more 4,100 stocks quoted exclusively in the Pink Sheets. Of those, almost 3,000 have firm market maker prices. Although many associate Pink Sheets quoted companies with small domestic and foreign OTC companies, or economically distressed issuer, many major American Depositary Receipts (ADRs) of large international corporations are quoted on the Pink Sheets. Hundreds of these ADRs are included in myTrack's new real-time Pink Sheets quotes.

    Track Data Corporation, Executive Offices, 56 Pine Street, New York, NY 10005 Phone: 800-myTrack (800 698-7225) or 718 923-3100
    myTrack@tdc.com www.mytrack.com

    Pink Sheets LLC, 11 Penn Plaza, 15th Floor, New York, NY 10001 Phone: 212 868-7100 Fax: 212 868-3848 info@pinksheets.com www.pinksheets.com

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    WALL STREET ACCESS LAUNCHES NEW ONLINE TRADING PLATFORM

    Wall Street Access has launched AccessPoint, the firm's new online trading platform specifically designed to provide the services required by Wall Street Access' customers. In addition to single puts and calls, options traders can now enter spreads, buy-writes, married puts, straddles, butterfly spreads, box spreads and ratio spreads online. AccessPoint calculates the market value of the customer's total account and individual holdings using real-time prices and asset factors for equity and option positions. Using the site, Wall Street Access customers have available the same institutional-quality market information as used by the firm's trading desk. AccessPoint offers the full range of institutional research published by Deutsche Banc Alex. Brown, available to you as soon as it hits the trading desks of major Wall Street firms. Customers can read the latest reports, or search by industry group, subject, or security symbol. For a demo of the platform, go to www.wallstaccess.com. 

    Wall Street Access is a member of the Nyse, Nasd and Sipc, and clears trades through Deutsche Banc Alex. Brown. 

    Wall Street Access, Online Sales Department, 17 Battery Place, New York, NY 10004, 800 925-5781, fax 212 709-9530, info@wsaccess.com, www.wallstaccess.com.

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    KCBT ALTERS LAST TRADING DAY

    The Kansas City Board of Trade is eliminating the Value Line stock index futures initial "speed bump" price limit of 2.5% below the previous day's close. The initial "speed bump" price limit will be 5% below the previous day's close. The other price limits of 10%, 15%, and 20% below the previous day's close remain in effect. To calculate the limits, the previous day's settlement is multiplied by the applicable price limit and then rounded to the nearest integral multiple of one index point. 

    The KCBT board of directors has also approved changing the last trading day for the exchange's hard red winter wheat options contracts. The new last trading day will be effective with the January 2002 contract month (currently pending approval by the Commodity Futures Trading Commission). Anyone entering into a wheat option position after the December 2001 contract month will be subject to the amended last trading day. 

    Kansas City Board Of Trade, 4800 Main St., Suite 303, Kansas City, MO 64112, 816 753-7500, fax 816 531-0627, www.kcbot.com 
     

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    TRADING ON THE ASIA AND FAR ASIAN EXCHANGES
    XpressTrade has begun offering self-directed futures traders access to the Singapore Exchange, Hong Kong Exchange, and Sydney Futures Exchange. Clients now have the opportunity to trade futures and options listed at major futures exchanges around the world, 24 hours a day. XpressTrade's goal is to give traders one-click access to all leading futures exchanges around the globe. 

    XPRESSTRADE, LLC, 10 S. Wacker Drive, Suite 2935, Chicago, IL 60606, 312 715-6228, 800 947-6228, info@xpresstrade.com, www.xpresstrade.com

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    RISK ADJUSTMENT AND OPTIMIZATION

    Street Falcon has introduced portfolio management software that enables the individual investor to manage a stock portfolio for the best risk-adjusted return. The software maximizes performance by analyzing risk and calculating the optimal amount of diversification for each investor's trading approach. 

    Street Falcon's Windows-based software works in combination with the Internet and interacts directly with the customer's online brokerage accounts. The software uses secure communications to collect information from multiple accounts, giving investors a simple way to automatically download all of their investment transactions, as well as price, split, and dividend information. All of this information is then combined to show crucial data, including account snapshots and performance, in an intuitive format. Street Falcon then runs an analysis on the investor's past investments to help him or her improve future performance. 

    Three versions of the software are available for purchase at www.streetfalcon.com. A free trial version is also available. 

    Street Falcon, Inc., 47 Raritan Avenue, Highland Park, NJ 08904, 732 246-7490, info@streetfalcon.com, www.streetfalcon.com

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    iVOLATILITY.COM LAUNCHES THE STRATEGIST

    iVolatility.com, an Internet resource for volatility data, is partnering with Scott H. Fullman, chief options strategist at Swiss American Securities, to launch The Strategist, an updated version of iVolatility.com. 

    Fullman brings his advanced analytical strategies and more than 20 years of equity options trading experience to the site. The debut is being marked with the launch of strategist worksheets to help analyze various trading strategies. These worksheets can incorporate "what-if" stock prices, transaction costs, and trading on margin and help users to understand potential profits and risks without the use of expensive option analysis software. In addition, the site brings complex analytical tools to all investors. By plugging in a few variables such as the stock symbol, option exercise month, and strike price into the worksheet, users can analyze complex strategies in a user-friendly format. 

    In addition to the worksheets, Fullman will provide weekly commentary and a series of educational seminars. The online forum will cover interpreting implied versus historic volatility; guidelines for purchasing puts/calls; covered call writing; and how to use the iVolatility website to develop trading strategies, among other topics. Following each forum, Fullman will facilitate a Q&A session. 

    iVolatility.com, an analytics and data vendor, provides analysis of implied and historical volatility of all listed options in the US. It offers users data and pricing calculators needed to value and trade options. 

    iVolatility.com, 575 Lexington Ave., Suite 3200, New York, NY 10022, 212 223-3552, Support@iVolatility.com, www.ivolatility.com 
     

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    TERRA NOVA ACQUIRES MARKET WISE COMPANIES

    		 Terra Nova Trading announced that it has expanded its commitment to trader education through the acquisition of Market Wise Securities, Llc, and Market Wise Stock Trading School, Llc. Both Chicago-based Terra Nova and Market Wise Securities are direct-access broker-dealers. Both companies will maintain their management structures and broker-dealer status. No jobs will be eliminated, and no employees will be relocated. 

    Terra Nova Trading, LLC, 100 South Wacker Drive, Suite 1550, Chicago, IL 60606, 866 996-8566, fax 312 960-0723, info@terranovaonline.com, www.terranovaonline.com 

    Market Wise Securities, LLC, 6343 W. 120th Ave., Broomfield, CO 80020, 800 793-9957, www.marketwise.com 
     

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