Track Data Corporation Defers One for Six Reverse Stock Split.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 25, 2002 Track Data Corporation (Nasdaq: TRAC TRAC - Text Reckoning And Compiling ) today announced that it is deferring its proposed one for six reverse stock split. The Company proposed this split in September because the Company did not satisfy the $1 minimum bid price requirement for continued listing on the Nasdaq National Market. The split was to become effective at the close of business on October 31, 2002. In view of a recent statement by a representative of Nasdaq that it is considering proposals to change the $1 bid price listing requirement, the Company will defer the split until it appears that the split will be necessary to permit the continued listing of the Company's shares. Track Data 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. The Company also owns and operates the Track ECN (Electronic Communications Network) A computerized, private financial trading system. Terra Nova Trading (www.terranovatrading.com) and Instinet (www.instinet.com) are examples. , an electronic communication network that allows traders to display and match limit orders for stocks. For professional investors, Track Data offers proTrack, a 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] 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 as an execution platform. For individual investors, Track Data offers myTrack, a 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 system. myTrack's direct access online trading has equity commissions starting at $12.95 per trade and allows users the choice of where to route their orders. myTrack also offers trading in options at all options markets, and over 6,000 mutual funds. In addition, futures trading in the E-Minis is available, with cross-collateralization of accounts. Futures trades are routed directly to the CME CME See: Chicago Mercantile Exchange CME See Chicago Mercantile Exchange (CME). at $14 per contract per round trip. For additional information, please contact Rafi Reguer, Vice President, Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. , at 718/522-0222 or by e-mail: rafi_reguer@trackdata.com. |
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