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For FS users who cringe at the thought of using BMI. Thank God FS& Omega came
to their senses:
Omega Research's TradeStation 2000i To Support FutureSource Real-Time
Financial Market Data
FutureSource Also To Offer TradeStation 2000i To Professional Investors As
Part Of FutureSource Data Subscriptions
MIAMI, Florida – February 24, 1999. Omega Research, Inc. (Nasdaq: OMGA)
announced today that it has entered into an agreement with FutureSource
Information Systems, Inc. to develop compatibility between Omega Research’s
TradeStation® 2000i, which was officially released Monday, and both the
network and stand-alone futures and futures options datafeeds generated by
FutureSource’s new Market Data Server (MDS).
Additionally, under the agreement, FutureSource is, on a nonexclusive basis,
authorized to offer to its subscribers monthly subscriptions for TradeStation
2000i as part of a premium package bundled with FutureSource data, for which
Omega Research is paid a monthly per-user royalty.
Omega Research also intends to offer directly, at its regular published
prices, versions of TradeStation 2000i that support FutureSource’s real-time
MDS datafeeds. Omega Research will then also share in datafeed revenues
generated by all FutureSource data subscribers that access FutureSource data
from TradeStation 2000i, as well as datafeed revenues generated by
FutureSource subscribers using TradeStation 4 or earlier versions, as
currently is the case.
The royalty and commission arrangements are subject to a guaranteed monthly
minimum payment schedule that lasts for three years commencing on the date
that technical compatibility is completed, which is expected in late
summer/early autumn of this year.
Marc J. Stone, Vice President of Corporate Development, Omega Research,
commented, "I am pleased to announce the expected upcoming compatibility of
TradeStation 2000i with FutureSource’s latest datafeed technology.
FutureSource is held in high regard in the industry for its quality of data.
This arrangement demonstrates our continuing commitment to offer our customers
high-quality real-time data choices. We also look forward to FutureSource
offering TradeStation 2000i on a monthly subscription basis, and expect to
explore additional ways our products can be offered on a recurring revenue
model."
Omega Research’s 2000i line of software products is compatible with the
following real-time Internet and broadcast data services: Data Broadcasting
Corporation’s (Nasdaq: DBCC) Signal Online (Internet), StockEdge Online
(Internet), InSite (Internet), DBC Signal (Broadcast) and BMI (Broadcast);
Data Transmission Network Corporation’s (Nasdaq: DTLN) DTN Real Time and
DTNstant (Broadcast); and PC Quote, Inc.’s (Amex: PQT) Hyperfeed™ (Internet
and Broadcast). An agreement is also in place to add, later this year, as a
compatible real-time data service, Standard & Poor’s ComStock’s Xpressfeed™.
Founded in 1982, and headquartered in Miami, Florida, Omega Research is a
leading provider of real-time investment analysis software for the Windows
operating system. With the 1991 release of its flagship product, TradeStation,
Omega Research pioneered the concept of utilizing the power of the personal
computer to enable investors to historically test the profitability of their
own investment strategies and then computer-automate those strategies to
generate real-time buy and sell signals. Omega Research’s other principal
products are OptionStation®, RadarScreen™ and SuperCharts®.
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 "believes,"
"estimates," "plans," "expects," "intends," "anticipates," "may," "should,"
"prospect" and similar expressions as they relate to Omega Research or its
management are intended to identify forward-looking statements. The statements
in this press release regarding expected product releases, development of
technical compatibility between Omega Research software and FutureSource data
services and the timetable therefor, and expected market appeal and customer
acceptance thereof, and the possible future offering of Omega Research
products on a recurring revenue model, are based on current expectations and
beliefs concerning future events that are subject to risks and uncertainties.
Actual results may differ materially from the results suggested herein and
from the results historically experienced. Factors that may cause or
contribute to such differences and impact future events include, but are not
limited to, customer acceptance of TradeStation 2000i, unfavorable critical
reviews of TradeStation 2000i, Omega Research’s ability to market effectively
TradeStation 2000i, the introduction of competitive products in the market or
increased customer acceptance of recently-introduced competitive products
(including competitive offerings by FutureSource), Omega Research’s and
FutureSource’s ability to develop technical compatibility between Omega
Research’s software and FutureSource’s data services in a timely fashion, if
at all, customer acceptance of TradeStation 2000i as used with FutureSource’s
data, the ability of Omega Research to successfully enter into arrangements
with third parties resulting in recurring revenues to Omega Research, as well
as those discussed in Omega Research’s press releases and filings with the
Securities and Exchange Commission including but not limited to Omega
Research’s December 31, 1997 Annual Report on Form 10-K.
Contact:Salomon Sredni
Vice President of Operations and Chief Financial Officer
305-485-7000
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