Imported from previous forum
[ original email was from James Parker - jparker@tnsi.com ]
[IMMEDIATE PRESS RELEASE]
TNS Secure Trading Extranet and Track ECN Deliver Cost- Effective Trade Execution To Shared Customers
Rapid Network Implementation and Straight Through Processing Capabilities
Contributed To 25 Percent Growth Rate For TNS’ Financial Services Division In Q2 2005
New York, New York – August 19, 2005 – Transaction Network Services, Inc. (NYSE: TNS), a leading network and data communications provider for transaction-oriented applications, and Track Data Corporation (NASDAQ: TRAC), parent company of Track ECN, one of the few remaining independent electronic communications networks (ECNs) available to institutional and independent traders, announced today the successful development of a partnership between the two companies.
“Financial institutions utilizing TNS’s Secure Trading Extranet to conduct trades through the Track ECN are getting a double benefit,” said Alan Grujic, managing director at Infinium Capital Group. “The Secure Trading Extranet provides the most reliable communications and constantly evolving technology around the trading process, while Track ECN offers some of the best pricing options in the market. Both of these factors affect the bottom line when it comes to the business of trading.”
As one of the few remaining independent ECNs, Track ECN allows customers to reach all markets and does not tie its pricing to minimum monthly trading volume requirements, as many of the larger ECN providers typically do. This pricing policy allows Track to offer clients of all sizes some of the highest rebates and lowest take-out fees in the market. Customers connecting to Track ECN through the TNS Secure Trading Extranet are up and running in about three days, versus the typical required implementation time of six to eight weeks with direct, point-to-point connections.
“We have been working with Track Data for some time, and TNS is really seeing an increase in client demand for the connection to their ECN,” said Alan R. Schwartz, SVP and general manager of TNS’ Financial Services Division. “Working with ECNs like Track has added to the growth in the number of customer end points maintained by TNS, both physical and logical. TNS is achieving its goal to deliver faster transactions to more traders.”
#
About Transaction Network Services, Inc.
Transaction Network Services (TNS) is one of the leading providers of business-critical, cost-effective data communications services for transaction-oriented applications. TNS provides rapid, reliable and secure transaction delivery across multiple vertical markets and trading communities.
Since its inception in 1990, TNS has designed and implemented multiple data networks, each designed specifically for the transport of transaction-oriented data. TNS’ networks support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods. TNS’ network technologies have been deployed in the United States and internationally, and TNS’ networks have become preferred networks servicing the trading community, wireless and wireline carriers, and the card processing and dial-up automated teller machine markets. For further information about TNS’ transaction solutions, please refer to www.tnsi.com.
About Track Data Corporation
Founded in 1981, Track Data Corporation is a New York-based financial services company that provides direct access brokerage, real-time financial market data, news, and research to institutional and individual investors . 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 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.
Forward-Looking Statements
The statements and information contained in this press release that are not descriptions of historical fact may contain forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond TNS’ control, which could cause actual results to differ materially from historical results or performance and from any opinions or statements expressed with respect to future periods. TNS disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this press release.
TNS Media contact:
Mike Murphy
(703) 453-8550
mmurphy@tnsi.com