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Track Data Announces the Addition of Futures Trading to Its myTrack Service.
Business Editors
NEW YORK--(BUSINESS WIRE)--Nov. 12, 2001
Track Data Corporation (Nasdaq-NMS: TRAC) today announced that it has added futures trading to its myTrack online trading service.
Initially, the stock index futures contracts myTrack members will be able to trade are the ones traded electronically -- the E-Mini S&P 500 and the E-Mini Nasdaq 100, with the FORTUNE e-50 and the Russell 2000 E-Mini coming soon. Next year, when the SEC begins allowing individual stock futures to trade in the U.S., members will be able to trade them through myTrack.
"Futures will eventually become part of most traders' balanced portfolios," said Barry Hertz, Track Data Chairman and CEO. "Most investors now split their assets into a certain percentage of equities, bonds, and cash; we believe futures will become a part of the equation. The E-Minis offer a number of advantages over the securities traditionally traded by individuals, including substantial leverage. They also lack some of the disadvantages active traders are now facing, including decimalization issues, liquidity issues, and Pattern Day Trader account requirements, such as the $25,000 minimum account requirement. Due to their risk levels, futures are not suitable for all investors, but we expect them to continue to increase in popularity."
myTrack continues to offer online trading in stocks, options, and mutual funds. myTrack is a direct access broker that offers investors the opportunity to direct where ...
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