A.B. Watley's Direct Access Brokerage Service Chosen by the University of Michigan Business School for Their Financial Research and Trading Center.Business Editors NEW YORK--(BUSINESS WIRE)--May 23, 2000 A.B. Watley Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABWG), premier provider of online and institutional trading services through its brokerage firm A.B. Watley, Inc. (www.abwatley.com), today announced that the Company has been chosen as the online broker for the Financial Research and Trading Center at the University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. Business School. The school's professors wanted a professional standard electronic trading, direct access platform. A.B. Watley's UltimateTrader(R) platform met these strict criteria and will be used in the education process of tomorrow's Wall Street professionals. The University of Michigan Business School's Financial Research and Trading Center curriculum trains students in the leading financial technology employed by Wall Street professional. Students are assigned the roles of portfolio managers, financial analysts and traders and manage a real investment portfolio. Activities are structured around an innovative course in applied financial analysis and portfolio management. A. B. Watley's proprietary trading system, UltimateTrader(R), has been chosen as the execution platform that will be used in the course. "The University of Michigan Business School looked for the most sophisticated and professional equity trading product on the market," stated Robert Malin, President of A.B. Watley, Inc. "Being chosen by such a prestigious institution is a testament to the quality of A.B. Watley's products and services." Gautam Kaul, Associate Dean at the University of Michigan Business School stated that, "UltimateTrader gives our students access to the same real-time data and execution options used by Wall Street professionals. Watley's leading-edge trading technology and excellent client support make them an ideal choice for our Financial Research and Trading Center." The course teaches a systematic approach for effective portfolio management structured around the following four components; forming reasonable return expectations, controlling risk, controlling trading costs and controlling and monitoring the investment process. Specifically, students manage a MidCap Equity Index Plus Fund. The Fund seeks improved returns over the S&P MidCap 400 Index through the use of financial analysis to identify expected residual returns (alphas) in the mid-cap equity market. The portfolio is intended to closely resemble an index fund, with limited tracking error risk and turnover. ABOUT A.B. WATLEY GROUP INC. A.B. Watley Group Inc. is the parent company of A.B. Watley, Inc., a multifaceted, technological and service-oriented brokerage firm offering two proprietary online trading systems, UltimateTrader(R)and WatleyTrader(TM), that provide realtime data feed and instantaneous execution for the most active segment of the online trading community An online trading community exists to provide its members with a structured method for trading, bartering, or selling goods or services. These communities often have forums and chatrooms designed to facilitate communication between the members. . The A.B. Watley, Inc. Institutional Sales and Trading Division specializes in the execution of complex and sensitive large-block equity transactions for institutions, major investment managers, insurance companies, banks, and high net worth individuals. A.B. Watley Group Inc.'s competitors include E*Trade (NASDAQ:EGRP EGRP E*Trade Group, Inc. (stock abbreviation, AMEX) ), Charles Schwab (NYSE NYSE See: New York Stock Exchange :SCH SCH School SCH Schedule SCH Search SCH Semester Credit Hours SCH Santander Central Hispano (bank in Spain) SCH Socket Head SCH Synchronization Channel SCH Succinylcholine SCH Space Center Houston ), Ameritrade (NASDAQ:AMTD AMTD Arithmetic Mean Temperature Difference AMTD Automatic Magnetic Tape Distribution AMTD Affordability and Manufacturing Technology Demonstration ), TD Waterhouse (NYSE:TWE TWE Test of Written English TWE ThinkWave Educator (teacher productivity application) TWE That Was Easy TWE tap water enema TWE Threat Warning Equipment TWE Transitional Work Experience TWE Triangle Wind Ensemble ), DLJ DLJ Distributor License for Java DLJ Donaldson, Lufkin & Jenrette Inc. DLJ Drive Like Jehu (band) DLJ Defence Laboratory Jodhpur (India) DLJ Dead Letter Journal Direct (NYSE:DIR) and National Discount Brokers (NYSE:NDB NDB Nondirectional Radio Beacon NDB Non Directional Beacon NDB Neue Deutsche Biographie (German) NDB National Development Bank (Sri Lanka) NDB National Discount Brokers NDB Next Business Day ). Editor's Note: The symbol between the "E" and "Trade" in the tenth line of the seventh paragraph is an asterisk. |
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