TradeStation SPAC Presentation Deck
40
20
●
Monthly Trading Volume Before, During and After COVID Period (¹)
Average Equities Trades Per Account
●
●
6
Zero-Commissions
(TradeStation Salutes) (²)
A M J J A S
Pre-COVID Period (¹)
•
28
●
6
•
35
7
Zero-Commissions
(Open to All) (³)
ONDJ
FYE 3/31/20
41
6
F
62
COVID Period showed significant spike in average per-account equities trades(5)
Factors used to estimate average per-account trading post-COVID Period:
10
COVID Period (¹)
54
10
37
7
M A M J J A S O N DJ F M A
FYE 3/31/21
Actual(4)
31
7
37
30
M J
Post-COVID Period (¹)
J
29
867
A
Estimates (¹)
Zero-Commissions Accounts
Non Zero-Commissions Accounts
Majority of clients are on Zero-Commission plans and this mix will further increase
Average trades of 38 per month for Zero-Commissions (Open to All) in pre-COVID Period
Average trades of 24 per month for Zero-Commissions (TradeStation Salutes) in 6-month period prior to start of Zero-Commissions (Open to All) period
A 10% increase or decrease in average monthly equities trading volume in post-COVID Period (all other things being equal) estimated to result in $5.0mm revenue increase or
decrease
31
Note: These numbers do not include institutional accounts or equities options trades. All Zero-Commissions plan numbers from 10/2019 include non-US resident equities accounts that signed up for TS Go or TS Select, even though they pay flat fee commissions.
(1) We define the COVID Period as the period of elevated equities trading from March 2020 through March 2021. The post-COVID Period reflects April-August 2021 actual results and estimated results through the remainder of FYE 3/31/22.
Zero-Commissions (TradeStation Salutes) refers to zero-commission equities account plans that have been offered to military veterans and first responders for several years prior to the COVID Period.
(2)
(3) Zero-Commissions (Open to All) refers to zero-commission equities account plans that have been offered to all customers prior to the COVID Period, including TS Go and TS Select (launched 10/2019) and TradeStation Salutes.
(4) Actual Post-COVID Period means April-August 2021.
(5)
Equity options trade volume was not impacted to the same extent as equities trade volume during the COVID period. For the avoidance of doubt, there are no options trades reflected in the above chart or related calculations.
SON DJ F M
FYE 3/31/22
5
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