Track Data Releases myTrack 5.0.Business/Technology Editors
NEW YORK--(BUSINESS WIRE)--July 9, 2001
Mutual Fund Trading and
Free Mutual Fund Research From Morningstar
Added to the 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. Software
Track Data Corporation (Nasdaq NMS See NetWare Management System. : TRAC TRAC - Text Reckoning And Compiling ) has just released version released version - release 5.0 of its myTrack online trading Online Trading
Making trades via the Internet.
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. software, with some major enhancements that include the ability to trade mutual funds and research mutual funds using Morningstar Quicktake(R) Reports provided by Morningstar, Inc., a leading investment information firm.
myTrack members with trading accounts will now be able to trade not only stocks and options, but also more than 6,500 mutual funds from 432 mutual fund companies. Load, no-load, and low-load funds will all be available, at a flat transaction cost of $25.
myTrack members have always been able to monitor mutual funds by simply entering the fund symbol in the myTrack portfolio page, but now members will also have access to Morningstar Quicktake(R) Reports. By right-clicking on the fund symbol, selecting 3rd Party, and then choosing Morningstar, myTrack members can view a comprehensive report that includes recent fund performance (vs. benchmark index and vs. its fund category), relative risk, top holdings, expense ratio, and the Morningstar Rating(TM).
"A lot of people assume that since myTrack is a direct access trading system for active traders, mutual fund trading is superfluous," said Barry Hertz, Track Data Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "But even among active traders there are many who own some funds. By offering mutual fund trading, we give our members the opportunity to consolidate all their holdings in a myTrack account."
"There is a natural symmetry for Morningstar to provide myTrack with comprehensive mutual fund data," said Kelly Messman, manager of the Internet Business Development group for Morningstar. "Both have been working with financial institutions and individual investors for nearly 20 years to provide them with reliable information so they can make better investment decisions. When Track Data decided to expand into mutual funds, we felt that it was great fit for us to provide them with the crucial mutual fund research capabilities."
About Track Data
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 real-time financial market data, news, and research to institutional and individual investors through dedicated telecommunication lines and the Internet.
For individual investors, Track offers myTrack, a fully integrated, Internet-based online trading and market data system. myTrack's direct access online trading has commissions starting at $12.95 per trade and allows users the choice of where to route their orders. myTrack's continuous, dynamic stream of live market data is powered by application-based software and a constant server connection similar to systems used by professionals, making it faster than the HTML HTML
in full HyperText Markup Language
Markup language derived from SGML that is used to prepare hypertext documents. Relatively easy for nonprogrammers to master, HTML is the language used for documents on the World Wide Web. web-based static pages offered by most of its competitors, such as Schwab (NYSE NYSE
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TWE Triangle Wind Ensemble ). In addition to all the free data supplied to myTrack users--streaming delayed quotes, company news, charting for technical analysis, and a proprietary library of intra-day market statistics--myTrack users can choose from a selection of paid data and research, including streaming real-time quotes and Nasdaq Level II. myTrack offers access through PCs, browser phones, and PDAs, such as Palm Organizers (made by Palm Inc. (Nasdaq: PALM)) and Visors (made by Handspring (Nasdaq: HAND)).
myTrack offers the first week of trading commission-free. To open a trading account, go to http://www.mytrack.com or call 1-800-myTrack.
About Morningstar, Inc.
Chicago-based Morningstar, Inc. is a leading provider of independent investment information. Morningstar offers an extensive line of print, software and Internet-based products and services for individuals, financial advisors, institutions, and the media. The company is the trusted source for investment information, data, and analysis of stocks, mutual funds, exchange-traded funds, closed-end funds, and variable annuity/life subaccounts.
Morningstar.com is listed among the top investing sites by publications such as The Wall Street Journal, Barron's, SmartMoney, Money, Worth, and U.S. News & World Report U.S. News & World Report
Weekly newsmagazine published in Washington, D.C. U.S. News was founded in 1933 by David Lawrence (1888–1973) to cover important domestic events; he founded World Report in 1945 to treat world news. The two magazines were merged in 1948. . Morningstar provides investment information for a number of leading Web sites, including Microsoft MoneyCentral, Quicken.com, America Online, Yahoo! Finance, and Netscape Personal Finance.