Message #3 From:
NewsBot Date: March 8, 2005 03:30:19 PM
ABWG AB Watley Direct Lowers Per-Trade Commissions to Among Industry's Lowest Rates; Reduced Pricing for New UltimateTrader Accounts Among the Industry's Lowest
AB Watley Direct Lowers Per-Trade Commissions to Among Industry's Lowest Rates; Reduced Pricing for New UltimateTrader Accounts Among the Industry's Lowest
NEW YORK
AB Watley Group Inc.
Robert Malin, 212-500-6521
rmalin@abwatley.com
or
Adam Friedman Assoc.
Media:
Rick Hilton, 212-981-2529 ext. 22
rick@adam-friedman.com
or
Investors:
Leslie Wolf-Creutzfeldt, 212-981-2529 ext. 11
leslie@adam-friedman.com
AB Watley Direct, Inc., a U.S. registered broker-dealer that provides online trading and direct access trading services for retail and institutional clients, today announced new rates, among the lowest in the industry for active traders. The Company also continues to provide its direct access trading platform free to its customers.
Minimum Trades Per Month Commission Per Trade(1)
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3,001 and above $1.95 (2)
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2,001-3000 $2.75
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1,001-2000 $3.75
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501-1000 $4.25
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401-500 $4.75
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400 or less $6.95 and up
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"Regardless of account activity, AB Watley maintains some of the lowest commission rates in the industry. AB Watley also offers Realtick Pro at extremely competitive prices. In addition we also offer customized commission rates for automated trading systems and institutional accounts", said Robert Malin, President of A.B. Watley Group Inc.
The rates are based on a minimum number of trades--including purchases or sales--per month, with an unlimited number of shares per transaction. In addition, minimum account balances were lowered to $5,000 for accounts using direct access trading software, and $2,000 for the accounts using the Company's web-based trading software, Watley Trader.
Note (1) ECNs & listed pass-throughs extra when used
Note (2) Non-retroactive, commission rates apply from the 3,001st trade
About AB Watley Direct, Inc.
AB Watley Direct, Inc. is a New York-based, NASD and SIPC member, broker/dealer founded in 1986. The firm is a service-oriented leader in the electronic trading field. Its goal is to provide the highest level of service in the industry at the lowest possible cost. AB Watley takes great pride in its trader support and attention to technology by offering multiple platforms suited to individual trader needs.
About AB Watley Group Inc.
AB Watley Group Inc. (Ticker Symbol "ABWG.OB") is a publicly held financial services holding company. The Company conducts its core business through its subsidiary AB Watley Direct, Inc., a U.S. registered broker-dealer that provides online trading and direct access trading services for retail and institutional clients. AB Watley Group provides direct access software and facilities to each of its divisions (online, retail and institutional). The Company's main focus is supporting its brokerage units' initiatives.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" and are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties, as well as other uncontrollable or unknown factors could cause actual results to materially differ from the result, performance, or expectations expressed or implied by such forward-looking statements.
