CyBerCorp.com Advances Technology, Lowers Prices and Expands Client Service Center for Active Online Investors.Business/Hi-Tech Editors NEW YORK--(BUSINESS WIRE)--June 13, 2000 Announces CyBerCorp Institutional -- Next Generation Electronic Trading Technology for Institutional Traders CyBerCorp.com, a leading electronic broker for active investors, today announced that it is reducing its commissions -- to as low as $9.95 -- while introducing its new CyBerX2 trading technology and expanding its client service center. In a parallel development for the institutional traders market, the Company announced the formation of CyBerCorp Institutional. "The decision to offer active investors commissions as low as $9.95 along with the enhanced technology of CyBerX2 and expanded client service represents a major step forward for CyBerCorp.com," said Philip R. Berber, founder of the Austin, Texas based online brokerage. The new CyBerX2 is designed to allow active investors to benefit from direct access and intelligent order routing while receiving real time streaming Level II data, advanced charting capability, options trading, access to online research and news, stop loss management, risk management and more. Direct access enables clients to route orders through CyBerCorp.com's servers to the appropriate market center. "To have all of this available within one easy to use electronic, intelligent and integrated trading platform represents a quantum leap quantum leap n. An abrupt change or step, especially in method, information, or knowledge: "War was going to take a quantum leap; it would never be the same" Garry Wills. in terms of other real time, direct access trading Direct access trading is a technology which allows stock traders to trade directly with market makers or specialists, rather than trading through stock brokers.[1] platforms available over the Internet," said Berber. CyBerCorp.com also announced new pricing schedules effective June 15 for its retail trading platforms, based on the previous month's trading activity: For CyBerX2: $14.95 per trade from 1-249 trades; $12.95 per trade for 250-499; $9.95 per trade for more than 500 trades. For CyBerTrader: $17.95 per trade from 1-249 trades (reduced from $19.95); $14.95 per trade for 250-499 trades; $9.95 per trade for more than 500 trades. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Berber, over the past year, institutional traders have better understood the power and value of direct access and intelligent order routing technologies, which CyBerCorp has now adapted and upgraded specifically with them in mind. All CyBerCorp trading platforms for the institutional market, like those for the individual market, utilize third-generation "direct access" trading technology, by which the technology "hunts and seeks" for the optimum counterparty at that instant among Electronic Communication Networks (ECNs), market makers and exchanges. "CyBerCorp was an innovator and pioneer in designing and developing intelligent order routing technology for active online investors," Berber said. "They are now offering institutional traders direct, intelligent and electronic access to the entire pool of Level II display liquidity through one single terminal." CyBerCorp Institutional will provide institutional traders with direct access, intelligent order routing technology platforms including CyBerTrader Professional and CyBerQuant, designed to cater directly to the time- and price-sensitive trading requirements of mutual funds, hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" , and other sophisticated asset management groups. William Thomson, general partner at Doune Capital L.P. in Hartford, CT, who has been using CyBerCorp services for the past month, said: "The customer service and the technology at CyBerCorp is exceptional. I believe CyBerCorp is enabling an affordable delivery of previously unavailable trading services to all investors." As a separate effort CyBerCorp and Schwab are combining their strengths to develop an offering geared toward independent investment advisors Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and working with Schwab Institutional that marries CyBerCorp's intelligent order routing technologies with the back office custody services of Schwab Institutional. "Our goal is to provide investment advisors the best of both worlds by combining CyBerCorp's innovative technology with the Schwab Institutional platform that provides advisors dedicated service, reporting and other technology solutions to support their growing practices," stated John Philip Coghlan, President of Schwab Institutional and Vice Chairman of The Charles Schwab Charles Schwab can refer to:
"The combination of Schwab and CyBerCorp Inc. results in the only firm today that possesses both the depth and strength of offerings provided by the leading online broker, Schwab, and the benefits of the technology-based products and services provided by the leading direct access broker, CyBerCorp," said Berber. About CyBerCorp Founded in December 1995, CyBerCorp Inc. is an electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. technology and brokerage services group that designs and develops state-of-the art electronic trading software for active investors. CyBerCorp.com and CyBerCorp Institutional are divisions of CyBerBroker, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CyBerCorp Inc., a member of NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . On March 1, 2000, CyBerCorp Inc. became a wholly owned subsidiary of The Charles Schwab Corporation (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 ). CyBerCorp.com has been ranked in the Top 10 among all online brokerages and ahead of all other direct access brokerages in reports by Hambrecht & Quite and US Bancorp Piper Jaffray Piper Jaffray & Co. (NYSE: PJC), often shortened to just Piper Jaffray or PiperJaffray, is a U.S. middle-market investment banking firm based in Minneapolis, Minnesota and is a focused on delivering financial advice, investment products and transaction execution by volume of transactions in each quarter beginning with the third quarter of 1999. (More information on CyBerCorp products and pricing can be found on www.cybercorp.com). About Charles Schwab & Co., Inc. (NYSE:SCH) Charles Schwab & Co., Inc. (member SIPC/NYSE) is one of the nation's leading financial service providers, serving 6.9 million active investor accounts with $823 billion in customer assets. Of these, approximately 3.7 million are active online accounts with $418 billion in customer assets. Schwab provides a full-service investing experience to customers through a "clicks and mortar Also called "bricks and clicks," it refers to businesses that offer online services via the Web as well as the traditional retail outlets (offline) staffed by people. Coined in 1999 by David Pottruck, co-CEO of the Charles Schwab brokerage firm, it refers to running the two divisions in a " multi-dimensional offering of the Internet, 356 branch offices, speech recognition, touch-tone telephone, e-mail technologies, multilingual and international services, and access to professionals day or night. About 30 percent of Schwab's customer assets and 10 percent of its customer accounts are managed by the 5,900 independent, fee-based investment Fee-Based Investment An investment account in which the advisor's compensation is based on a set percentage of the client's assets instead of on commissions. Contrast this to commission-based investment, in which the advisor makes money based on the amount of trades made or the advisors served through its Schwab Institutional division. Schwab is creating a new model of full-service investing in which information flows freely, and investors make their own decisions with objective advice when and how they need it. |
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