Omega Research and OnlineTrading.com Merge To Form TradeStation Group, Inc.; Company Now Traded Under Ticker Symbol TRAD.Business Editors MIAMI--(BUSINESS WIRE)--Jan. 2, 2001 Omega Research, Inc. and OnlineTrading.com announced today that the two companies merged on Friday, December 29, 2000, and that the new company is TradeStation Group, Inc. TradeStation Group will trade on The Nasdaq National Market under the symbol TRAD beginning with today's market open. "With the closure of our merger, we now intend to establish TradeStation as the dominant brand in the active trader brokerage space," said Bill Cruz, Co-Chairman of the Board and Co-CEO of TradeStation Group. "With our combined team and technologies, we believe TradeStation Group will offer a unique, compelling, and comprehensive trading platform for active and professional traders." "Today's merger brings the final piece of our business model in place and soon will allow us to capture a portion of the significant commission revenues that we believe are generated by our customers, but previously weren't available to our company," continued Cruz. "The integration of intelligent direct-access execution services with our recently released TradeStation Pro platform is now possible and is expected in the near future." TradeStation Pro is the company's unique trading platform that is targeted at the sweet spot of the online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. market - the active trader segment. These traders are reported to represent the majority of all daily online trades, yet account for fewer than 10% of online accounts. The company believes that TradeStation Pro will become the platform of choice to active and professional traders because of its unparalleled ability to design, test, automate To turn a set of manual steps into an operation that goes by itself. See automation. and execute 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 . Shareholders approved the merger in separate meetings held Friday near each company's headquarters in Miami and Boca Raton, Florida Boca Raton ("bōkə rə-tōn") is a city in Palm Beach County, Florida incorporated in May 1925. As of the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. . TradeStation Group will be headquartered in Miami. About TradeStation Group, Inc. TradeStation Group (Nasdaq: TRAD) was formed by the recent merger of Omega Research (formerly traded under the 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 Nasdaq symbol) and OnlineTrading.com (formerly traded under the LINE Nasdaq symbol). Omega Research has been renamed TradeStation Technologies, and OnlineTrading.com has been renamed TradeStation Securities. These two companies are the operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of TradeStation Group. This group of companies expects soon to offer an unparalleled trading platform to active and professional traders - one that enables the design, testing, automation and direct-access execution of custom trading strategies. The company has a registered base in excess of 100,000 paid software customers of its TradeStation(R), Window On WallStreet(R) and other legacy products and services. The combined revenue recognized from these products over the years is well in excess of $100,000,000. The company believes these customers are ideal prospects for its integrated brokerage services and expects to market the new services to these customers and active and professional traders at large later this year. 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 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 anticipated; the frequency with which brokerage clients will place and execute trade orders; 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 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 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; the adequacy of working capital, cash flows and available financing to fund the company's 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, the company's registration statement on Form S-4, as 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. , declared effective by the SEC on December 11, 2000 as well as other press releases, particularly those released during and subsequent to the 2000 first quarter. |
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