Omega Research Launches TradeStation Pro; Launch Marks Crucial Step in Company's Transition to Unique Direct-Access Brokerage For Active and Professional Traders.Business Editors/High-Tech Writers MIAMI--(BUSINESS WIRE)--Dec. 6, 2000 Omega Research, Inc. (Nasdaq:OMGA OMGA Ohio Meat Goat Association OMGA Oklahoma Meat Goat Association OMGA Oregon Meadowfoam Growers Association OMGA Oregon Master Gardener Association OMGA Obstetric Medicine Group of Australasia OMGA Operations Management Ground Application OMGA Oh My Giddy Aunt ) announced today the launch of TradeStation Pro - an unparalleled, Internet-based trading platform for the active and professional trader that will be offered as a monthly subscription service. Launch is Milestone Event For Company's Transition to New Business Model The launch of TradeStation Pro is the most significant release in the company's history for several reasons. First and foremost, TradeStation Pro is the foundation of the company's intelligent, direct-access trading platform that will be offered to the active trader market once the pending merger with OnlineTrading.com and full integration with direct-access order execution technology is completed. Second, the company has a registered base of many thousands of trading software customers, many of whom are active traders Traders Individuals who take positions in securities and their derivatives with the objective of making profits. Traders can make markets by trading the flow. When they do this, their objective is to earn the bid/ask spread. , who will now be offered the subscription service and are expected to sign up at a rapid pace. The company believes that once these active and professional traders experience TradeStation Pro they will be deeply attracted to the integrated direct-access brokerage service. This launch therefore marks a milestone for the company towards transforming its revenue base from subscription and client software fees to much more lucrative transaction-based commission fees. This transformation may be especially compelling given the company's belief of how frequently TradeStation Pro customers will place and execute trades. TradeStation Pro subscriptions will immediately be directly marketed to thousands of the company's existing customers at a substantially-discounted price for those customers of $99.95 per month. Substantially all of the company's marketing resources will now be directed to TradeStation Pro. "The launch of TradeStation Pro marks the completion of perhaps the most important step in our transition to a unique direct-access brokerage firm focused on serving the needs of the active and professional trader," said Bill Cruz, Co-Chairman and Co-CEO of Omega Research. "Nearly all of the front-end technology required to enable our customers to design and historically test custom trading strategies In finance, a trading strategy (see also trading system) is a predefined set of rules to apply. Usually, this refers to a means used to replicate an option in order to give it an arbitrage free value in the sense that the cost of buying some financial assets to give the same , automate To turn a set of manual steps into an operation that goes by itself. See automation. them to generate buy and sell orders in real time, and then seamlessly execute those orders through intelligent, direct-access order routing, has been completed. Once we complete our merger with OnlineTrading.com and complete all order execution technology we will be in a position to invite our subscribers to become brokerage clients. The hardest part of the job has now been completed, and we can't wait to offer the full direct-access trading platform to our sizeable customer base and the active trader market in general." The company expects the merger to be completed in a few weeks and to complete the order execution technology in the near future. In anticipation of the launch of TradeStation Pro, the company recently opened its third data center in the US. This new server farm doubled the company's data distribution capacity. The Powerful and Unique Features of TradeStation Pro TradeStation Pro truly is, the company believes, unparalleled and unique compared to what is available today to active and professional traders. The company believes TradeStation Pro is the only Internet-based trading platform that enables traders to design custom buy and sell trading strategies, historically test those strategies, and then automate those strategies to produce real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. buy and sell alerts when the triggers for those strategies occur. The use of EasyLanguage(R), the company's proprietary, industry-standard language that consists of English-like statements and trading terms, enables traders to design virtually any objective buy and sell strategies they desire. TradeStation Pro is powered by state-of-the-art streaming real-time market data technology. It also includes a massive 30-year plus historical database that enables the performance of historical tests of the trader's buy and sell strategies. While traders will access the streaming real-time and historical market data from the company's data centers, TradeStation Pro keeps all of the trader's strategies on his PC to help insure Insure can mean:
The TradeStation Open Platform The attractiveness of TradeStation Pro to the active trader market is further enhanced by the vast library of trading tools that have been developed by independent companies over the years using TradeStation's industry-standard EasyLanguage(R). There are currently more than 100 independent companies that offer trading software tools and strategies that are compatible with the TradeStation Open Platform, and require TradeStation in order to use them. Futures Data and Options Analytics To Follow TradeStation Pro currently offers Nasdaq, New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. and options indices data. The platform is expected to be enhanced in early 2001 to offer futures data. The company also intends in 2001 to integrate functionality from its award-winning OptionStation(R) and RadarScreen(R) products. About Omega Research, Inc. Omega Research, Inc. is a leading provider of branded real-time trading tools for active traders and professionals. The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , TradeStation(R), has accounted for more than $100 million in software sales since its introduction in 1991. The company has recently launched TradeStation Pro, the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the version of its flagship product which the company believes is the Internet's first trading platform that enables traders to design, test and automate their own custom trading strategies. WindowOnWallStreet.com, the company's first Internet subscription service, offers traders award-winning tools, including powerful analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. charting, Level II, time & sales, quote lists, option chains, market leaders, streaming news, Internet SmartSearch, live ticker ticker An automated quotation system on which security transactions are reported after they occur on an exchange floor. Even though the newer systems are electronic and no longer actually tick, the name of the old mechanical device has stuck. , portfolio management, Profit/Loss tracking, discussion forums, and wireless access. About TradeStation Group, Inc. Omega Research and OnlineTrading.com have announced a definitive agreement to merge the two companies in an all-stock combination. TradeStation Group, Inc. will be the name of the new company created by the merger. The strategic combination of these two companies is expected to create unparalleled brokerage services for active traders and professionals, for which TradeStation Pro will be the foundation. After the merger, Omega Research will be renamed TradeStation Technologies, Inc. and OnlineTrading.com will be renamed TradeStation Securities, Inc. The consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of the merger is subject to satisfaction of certain conditions, including, but not limited to, the registration of the new holding company's shares with the SEC and the listing of such shares with The Nasdaq National Market. The merger is expected to close by year end or shortly thereafter, and the new ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors is expected to be TRAD. Upon closing of the merger, all company shareholders will receive one share of TradeStation Group, Inc. common stock in exchange for each share of Omega Research, Inc. common stock owned by them. Forward-looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains statements that are forward-looking and are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of 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. When used in this press release the words "believes," "plans," "estimates," "expects," "intends," "designed," "anticipates," "may," "will," "should," "could," "upcoming," "potential" and similar expressions, if and to the extent used, are intended to identify forward-looking statements. All forward-looking statements are based largely on current expectations and beliefs concerning future events that are subject to substantial risks and uncertainties. Actual results may differ materially from the results suggested herein. Factors that may cause or contribute to the various potential differences include, but are not limited to, the company's ability to continue to effectuate ef·fec·tu·ate tr.v. ef·fec·tu·at·ed, ef·fec·tu·at·ing, ef·fec·tu·ates To bring about; effect. [Medieval Latin effectu its Internet strategy and to develop and successfully market the products and services described in this press release (and the costs associated therewith there·with adv. 1. With that, this, or it. 2. In addition to that. 3. Archaic Immediately thereafter. Adv. 1. ); the acceptance of the company's new products and services in the marketplace; technical difficulties or errors in the products and/or services; market pressure to lower substantially or eliminate pricing on the types of Internet subscription services described as a result of such services being provided at low or no additional costs by brokerages, financial institutions and other financial companies to their customers, or for other market reasons; the company's customer and active prospect base containing a substantially lower number of interested subscribers and/or brokerage clients than the company anticipates; the frequency with which the company's customer base places and executes trade orders; the failure to consummate To carry into completion; to fulfill; to accomplish. A Common-Law Marriage is consummated when the parties live in a manner intended to bring about public recognition of their relationship as Husband and Wife. the pending merger at all (or on a timely basis); difficulty integrating the two companies from technology, operational and marketing aspects; potential NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). or other broker-dealer regulatory issues arising from the merger and/or the conduct of a brokerage business focused on active traders; the success (and cost) of new marketing strategies as a result of the merger; the company's future participation in any merger or strategic alliance; unfavorable critical reviews regarding the company's new products and services; increased competition (including product and price competition); the level of market demand for real-time decision support tools, real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. and/or online brokerage services and/or website services generally; the scalability, performance failures and reliability of the company's data service network; the entrance of new competitors into the market; timing and significance of additional new product and service introductions by the company and its competitors; general economic and market factors, including changes in securities and financial markets; variations in patterns of customer sales due to holidays or major news events; the adequacy of working capital, cash flows and available financing to fund the new business model and sustain expected operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. ; and other risks and uncertainties indicated from time to time in the company's filings with the Securities and Exchange Commission including, but not limited to, Omega Research's December 31, 1999 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. (as same has been amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. ), the registration statement on Form S-4 filed April 17, 2000, as amended, as well as other press releases, particularly those released during and subsequent to the 2000 first quarter. |
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