A.B. Watley Group Inc. Reports Record November Trade Volume.NEW YORK--(BUSINESS WIRE)--December 17, 1999-- 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 the Company's recently launched UltimateTrader Free product and campaign has so far produced record trading volumes and account growth for the month of November. The firm continues to make significant inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ into the acquisition of the most active investing 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. . Company highlights for the month of November include: -- Customer daily average trades increased 35.9% to 4,833, as compared to October 1999 -- The average A.B. Watley account balance increased 7.8% to $61,267 as compared to October 1999 -- Customer assets at A.B. Watley increased 21.7% to $256.5 million since October 1999 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. 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. Under its former name, Internet Financial Services Inc., the Company completed its initial public offering of 2,300,000 shares of common stock on April 20, 1999.The Company recently reported record 1999 fiscal year end revenues of $20,987,613, an increase of 130% from fiscal year 1998. A.B. Watley Group Inc.'s competitors include Etrade (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 Direct (NYSE: DIR) and National Discount Brokers (NYSE: NDB). SAFE HARBOR STATEMENT Certain statements contained herein, including statements regarding the development of services and markets and future demand for services and other statements regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, as amended). Any number of conditions may occur which would materially affect important factors in this analysis and materially change expectations. These factors include, but are not limited to, customer trading activity, loss of one or more significant customers, change in technology, shifts in competitive patterns, ability to manage growth effectively, risks associated with acquisitions including integration risks, risks associated with strategic partnerships, various project-associated risks, substantial competition, general economic conditions, risks associated with intellectual property rights, risks associated with international operations and other risk factors listed from time to time in the A.B. Watley Group Inc.'s filings and reports with the Securities and Exchange Commission. |
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