Datek Online Introduces Streamer ECN
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, email@example.com, www.datek.com.
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, firstname.lastname@example.org, www.esquotes.com.
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:
Track Data Corporation, Executive Offices, 56 Pine Street, New York,
NY 10005 Phone: 800-myTrack (800 698-7225) or 718 923-3100
Pink Sheets LLC, 11 Penn Plaza, 15th Floor, New York, NY 10001 Phone: 212 868-7100 Fax: 212 868-3848 email@example.com www.pinksheets.com
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, firstname.lastname@example.org, www.wallstaccess.com.
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
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, email@example.com, www.xpresstrade.com
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, firstname.lastname@example.org, www.streetfalcon.com
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
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, email@example.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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