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TradeStation upgrades tech; reports Q3 revenue slide

21 October 2010  |  2184 views  |  0 Source: TradeStation

TradeStation, the award-winning broker-dealer and futures commission merchant, and a leading provider of custom analysis and electronic trading solutions, today announced the launch of TradeStation 9.0.

The company expects that TradeStation 9.0 will reset the bar for trading platforms in the retail brokerage industry by empowering customers and developers to automate and test strategies in the equities, options, futures and forex markets unlike anything else currently available. TradeStation 9.0 is now being rolled out to new customers and is expected to be slowly rolled out to all existing TradeStation clients beginning next week.

"Traders in today's markets demand access to information and the ability to act on it instantly," said Salomon Sredni, the CEO of TradeStation Group, TradeStation's parent company. "TradeStation 9.0 really expands the power of our platform. As an example, traders will be able to automatically monitor market depth and be alerted, or even place a trade, the moment the trader's rule or trigger is met. Traders now may also have TradeStation monitor their open positions and continuously perform risk assessments, so that, in a fast market downturn or upturn, the appropriate action will automatically be executed. Also, traders now have the ability to execute code on a fixed time interval, access to all of the details for their orders and positions, and, on RadarScreen(R) (TradeStation's state-of-the-art market scanning engine) access to multiple data streams."

"TradeStation 9.0 also includes dozens of other popular enhancement requests for EasyLanguage, TradeStation's industry-standard proprietary programming language," added John Bartleman, TradeStation's Vice President of Product Management, "as well as for the TradeStation Development Environment, which is used as an open platform on which third-party developers can add their own trading applications. The company previewed TradeStation 9.0, in three recent conferences, to more than 100 third-party developers who currently offer trading indicators, strategies, systems and other products that run on the TradeStation platform. The excitement in the room was palpable, and the company looks forward to launching next year an 'app store' that will offer a growing number of these third-party trading products to traders looking for new ideas and ways to enhance their TradeStation experience."

TradeStation 9.0 also has a new look and feel. The company has improved the icons, enhanced some of the graphics and colors, and added a "Quick Start" to help new TradeStation users create an optimal workspace. Plus, TradeStation's Options Development Team has in TradeStation 9.0 added another set of enhancements to OptionStation, the company's highly-regarded automated research product for options trading analysis and decision-making.

Over the next few months, TradeStation expects to continue to build and release new tools in TradeStation 9.0, including the full integration of the enhanced back-testing optimization technology recently acquired by the company. The company plans to provide continuous updates over the next few months to provide these new features, with the goal of commencing a full release of TradeStation 9.0 early in the first quarter of 2011 as part of a new marketing campaign.

Separately, TradeStation Group (NASDAQ GS: TRAD) today reported 2010 third quarter net revenues of $29.6 million, net income of $3.1 million, and earnings per share (diluted) of 8 cents, compared to 2009 third quarter net revenues of $32.4 million, net income of $3.7 million, and earnings per share (diluted) of 9 cents.

Read the full statement here:

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