Track Data's Track ECN Reporting 5 Levels on NASDAQ's SuperMontage; Track ECN Back among NASDAQ Top 10 Liquidity Providers.BROOKLYN, N.Y. -- Track Data Corporation (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 : TRAC TRAC - Text Reckoning And Compiling ) today announced that its Track ECN (Electronic Communications Network) A computerized, private financial trading system. Terra Nova Trading (www.terranovatrading.com) and Instinet (www.instinet.com) are examples. (Market Participant The term market participant is used in United States constitutional law to describe a U.S. State which is acting as a producer or supplier of a marketable good or service. When a state is acting in such a role, it may permissibly discriminate against non-residents. ID: "TRAC") has begun reporting five levels on Nasdaq's SuperMontage. Track ECN clients will benefit from this move by receiving higher trading priority on bids and offers placed away from the market. "Track ECN's philosophy is simple: offer access to ample liquidity, the best possible execution priority, and the largest possible rebate," said Joe Schultz For the baseball outfielder, see . Joseph Charles Schultz, Jr. (August 29, 1918 — January 10, 1996) was a catcher, coach and manager in American Major League Baseball. , VP of Track ECN. "Participating in SuperMontage means Track ECN offers access to its liquidity to the entire trading community via Nasdaq. The decision to report five levels offers our clients an edge when they wish to place orders away from the market, since they will receive time priority if the market moves in their direction. And, finally, we offer a great rebate of $2.70 per thousand shares." BACK IN NASDAQ'S TOP 10 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. Nasdaqtrader.com, Track ECN is back in its list of Top 10 liquidity providers. Nasdaq's report for the week of December 6th shows Track ECN in the number 9 slot. Track ECN was regularly in the top 10 before the advent of SuperMontage, and was the number 1 provider for several weeks. This is the first time Track ECN is among the top 10 since 2002. NEW PRICE SCHEDULE FOR TRACK ECN ("TRAC") For NASDAQ securities, effective January 1, 2005: Order that adds liquidity $2.70 per thousand shares REBATE Order that removes liquidity $3.00 per thousand shares CHARGE Track ECN competes with six other ECNs, down from a dozen when Track ECN commenced business in 2002. The three largest competitors are Archipelago (Pacific: AX), Instinet (Nasdaq: INGP) and Nasdaq/Brut (Nasdaq: NDAQ NDAQ National Database of Accredited Qualifications ). COMPANY BACKGROUND Track Data Corporation is a New York-based financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company that provides direct access brokerage, real-time financial market data, news, and research to institutional and individual investors through dedicated telecommunication lines and the Internet. For professional investors, Track Data Securities offers proTrack, a direct access-trading platform with fully integrated market data. proTrack offers unbiased trade routing, allowing clients control over where their orders are sent. proTrack is also available to broker-dealers under a service bureau arrangement as an execution platform. For individual investors, Track Data Securities offers myTrack and TrackTrade, both fully integrated, Internet-based 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. and market data systems. Each platform offers direct access online trading, allowing users the choice of where to route their equity and options orders. myTrack and TrackTrade offer continuous, dynamic streams of live market data powered by application-based software and a constant server connection similar to systems used by professionals. For all investors, the Company's NewsWare division offers NewsWatch, a PC-based application that aggregates news from thousands of sources. Featuring real-time full text filtering and complex queries, its real-time alerting functions allow users to choose topics of interest and be among the first to know when news breaks. |
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