Omega Research, OnlineTrading.com Merge
Page 1 of 1
The agreement calls for Omega Research (OMGA) shareholders to receive one share of common stock of the new holding company Online Trading Group, for each share of Omega Research currently held.
The combination will create the world's first institutional level trading platform for online traders. Features of the new unit will include analytics, streaming real-time market quotes and news and direct ECN online order execution.
While the individual businesses will continue to be run by their pre-merger management teams, the companies disclosed the proposed structure of Online Trading Group. Omega Research executives William R. Cruz and Ralph L. Cruz will serve as co-chairmen and co-chief executive officers. OnlineTrading.com (LINE) executives Farshid Tafazzoli and Steven zum Tobel will be named vice presidents of Online Trading Group. The board of directors of Online Trading Group will initially consist of eight members: Five members designated by Omega Research and three members designated by OnlineTrading.com.
OnlineTrading.com offers real-time direct ECN trading over the Internet and through traditional brokers.
Omega Research's new site WindowOnWallStreet.com will launch next week to offer traders streaming real-time charts, quotes, news, portfolio updates and more. Later this year, Omega Research intends to launch TradeStation.com as a complement to WindowOnWallStreet, which will combine strategy development, back-testing and automation with the streaming real-time delivery of market information incorporated in WindowOnWallStreet.com.