TradeStation Launches New, Powerful Forex Trading Platform That Offers Tighter Inside Spreads
02 Julio 2007 - 7:40AM
PR Newswire (US)
PLANTATION, Fla., July 2 /PRNewswire-FirstCall/ -- TradeStation,
the award-winning equities, futures and forex brokerage, today
announced the launch of its new forex trading platform, one that
enables the design, back- testing and automation of forex trading
strategies based on inside, inter-bank spreads of the kind made
available to institutional and professional traders. This "direct
access" forex offering delivers to TradeStation clients the inside
price transparency and automated and manual strategy trading
capabilities they have come to expect from the firm's equities,
equity option and electronic futures service offerings. Forex
trades may now be executed directly from the TradeStation order bar
or market depth window, or through the use of macros or full
automation. "We believe the TradeStation platform will be a
dominant force in the forex industry," said Salomon Sredni, CEO of
TradeStation Group, the parent company of TradeStation. "When we
made this same change to our futures and options brokerage
offerings, our account and trade activity in those areas grew
rapidly. While of course no assurances can be given, we hope for
similar results with our integrated forex trading platform." "Forex
is an international market," continued Sredni. "In other words, it
is a 'local' market everywhere. It trades 24 hours a day. It is the
most liquid market in the world and one that appears to be growing
for individual traders in the U.S. and abroad." Currently, it is
estimated that daily forex trade volume for retail (as opposed to
institutional) trader accounts is $25 to $50 billion, which
represents only about 2% of the whole market, which is estimated to
be approximately $1.9 trillion of daily volume for the traditional
currency pairs. The TradeStation approach to forex strategy trading
is already well known in the institutional forex trading community,
as it was offered to institutional traders world-wide from 1996
through 2006 as a premium service for the Telerate feed. The
institutional traders who subscribed to Telerate for this
TradeStation premium service generally used it to design, test and
optimize their forex trading strategies. Tighter, Inside Spreads
Now Offered for a Reasonable Commission Another major improvement
to TradeStation's forex service offering, which is being made
available to all new and existing forex accounts, is to give
clients much tighter spreads on their forex deals in exchange for a
reasonable commission. Under the old way of doing business, much
like the old days of stock trading before direct market access, the
dealer who trades with individual account holders takes or shares
in a large spread between the dealer's cost and what the client
pays or receives -- typically at least $30, and as high as $50 or
$60, for a 100,000 deal lot, even in a very liquid currency pair.
No commission is charged -- but that is why: The dealer is making a
tidy profit taking or sharing in that large spread. Under
TradeStation's new pricing plan, it will be offering tighter
"inside" spreads -- as small as $10 per 100,000 deal lot for the
most liquid currency pairs -- in exchange for a reasonable
"round-turn" commission that will typically be $5.00 per 100,000
deal lot. "We believe that the vast majority of active forex
traders know this is a better, fairer pricing deal -- and the ones
who don't will soon learn that is the case," said Sredni. "We
believe the combination of this new pricing with the power and
quality of our new, seamless forex trading platform will be an
offer that is hard to match." Other New Features in TradeStation
8.3 In addition to the new forex offering, this new release of the
TradeStation platform, TradeStation 8.3, contains improvements in
other areas to support the active trader, including the addition of
numerous fundamental data Indicators, PaintBar Studies and Strategy
Components that support the design and testing of fundamental data
strategies, and increased optimization of analysis technique
calculations for Chart Analysis and RadarScreen. A detailed
description of the new features, functions and enhancements in
TradeStation 8.3 is available at
https://www.tradestation.com/support/whats_new/build1353.aspx .
About TradeStation Group, Inc. TradeStation Group, Inc. (NASDAQ GS:
TRAD), through its principal operating subsidiary, TradeStation
Securities, Inc., offers the TradeStation platform to the active
trader and certain institutional trader markets. TradeStation is an
electronic trading platform that offers state-of-the-art "direct
market access" (DMA) or "direct-access" order execution and enables
clients to design, test, optimize, monitor and automate their own
custom Equities, Options, Futures and Forex trading strategies. In
2007, TradeStation was named, for the third year in a row, Best
Futures Brokerage and, for the fifth year in a row, Best
Direct-Access Stock Broker, Best Professional Platform and Best
Institutional Platform, in "Technical Analysis of Stocks and
Commodities" magazine. TradeStation Securities, Inc. (Member NASD,
NYSE, SIPC, NSCC, DTC, OCC & NFA) is a licensed securities
broker-dealer and a registered futures commission merchant, and
also a member of the American Stock Exchange, Boston Options
Exchange, Chicago Board Options Exchange, Chicago Stock Exchange,
International Securities Exchange, NYSE ARCA and Philadelphia Stock
Exchange. The company's technology subsidiary, TradeStation
Technologies, Inc., develops and offers strategy trading software
tools and subscription services. Its London-based subsidiary,
TradeStation Europe Limited, an FSA-authorized brokerage firm,
introduces UK and other European accounts to TradeStation
Securities. Forward-looking Statements This press release contains
statements that are forward-looking and are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. When used in this press release the words "believe,"
"hope," "will," 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 and events
may differ materially from those suggested herein. Factors that may
cause or contribute to the potential differences include, but are
not limited to, (i) unanticipated delays in the rollout of
TradeStation's new forex offering as a result of discoveries or
comments made by or from brokerage clients and subscribers, or
otherwise as a result of design flaws or other technical issues
that may arise or become known, (ii) the company's brokerage
clients or the active or institutional trader markets not
considering the quality or performance of TradeStation's new forex
offering to be as valuable or useful as the company believes they
will, (iii) the size of the forex trader market not being as large
as the company believes it is, and (iv) the issues, risks and
uncertainties described in the company's filings with the
Securities and Exchange Commission including, but not limited to,
the company's Annual Report on Form 10-K for the year ended
December 31, 2006, and its earnings releases and Reports on Form
10-Q for the 2007 first quarter, as well as other SEC filings and
company press releases. Contact -- David H. Fleischman Chief
Financial Officer TradeStation Group, Inc. 954-652-7000 DATASOURCE:
TradeStation Securities, Inc. CONTACT: David H. Fleischman, Chief
Financial Officer of TradeStation Group, Inc., +1-954-652-7000 Web
site: http://www.tradestation.com/
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