Document:

EXHIBIT 4.3

                            TRADESTATION GROUP, INC.

                              INCENTIVE STOCK PLAN

         1.       Purpose. The TradeStation Group, Inc. Incentive Stock Plan
(the "Plan"), being assumed and adopted by TradeStation Group, Inc., a Florida
corporation, pursuant to that certain Agreement and Plan of Merger and
Reorganization (the "Agreement") dated as of January 19, 2000 among Omega
Research, Inc. ("Omega Research"), onlinetradinginc.com corp., TradeStation
Group, Inc., Omega Acquisition Corporation and Onlinetrading Acquisition
Corporation, is intended to provide incentives which will attract and retain
highly competent persons at all levels as employees of TradeStation Group, Inc.
and its subsidiaries (the "Company"), as well as independent contractors
providing consulting or advisory services to the Company, by providing them
opportunities to acquire the Company's common stock ("Common Shares") or to
receive monetary payments based on the value of such shares pursuant to the
Awards described in Paragraph 4 below.

         2.       Administration.

                  (a) The Plan will be administered after the Effective Time (as
defined in the Agreement) by a Compensation Committee (the "Committee")
appointed by the Board of Directors (the "Board") of the Company from among its
members; provided, however, that, as long as Common Shares are registered under
the Securities Exchange Act of 1933 (the "Act"), members of the Committee must
qualify as "non-employee directors" within the meaning of Securities and
Exchange Commission Regulation ss. 240.16b-3. Once appointed, the Committee
shall continue to serve until otherwise directed by the Board. From time to time
the Board may increase the size of the Committee and appoint additional members
thereof, remove members (with or without cause), and appoint new members in
substitution therefor, and fill vacancies however caused; provided, however,
that at no time shall a Committee of less than two members of the Board
administer the Plan. The Committee is authorized, subject to the provisions of
the Plan, to establish such rules and regulations as it deems necessary for the
proper administration of the Plan and to make such determinations and
interpretations and to take such action in connection with the Plan and any
Awards (as hereinafter defined) granted hereunder as it deems necessary or
advisable. All determinations and interpretations made by the Board and
Committee shall be binding and conclusive on all participants and their legal
representatives. No member of the Board, no member of the Committee and no
employee of the Company shall be liable for any act or failure to act hereunder,
by any other member or employee or by any agent to whom duties in connection
with the administration of this Plan have been delegated or, except in
circumstances involving such person's bad faith, gross negligence or fraud, for
any act or failure to act by the member or employee.

                  (b) Pursuant to its administrative duties described in Section
2(a) above and notwithstanding anything to the contrary contained herein, the
Compensation Committee may, by a resolution adopted at a meeting of the
Compensation Committee duly convened and called or by a unanimous written
consent in lieu of a meeting, delegate to the persons or persons who serve as
Chief Executive Officer or as Co-Chief Executive Officers of the Company the
authority

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to determine the identities of employees who are not officers or directors of
the Company who shall receive Stock Options under the Plan and the terms,
conditions, limitations and restrictions upon which such Stock Options shall be
granted; provided, however, that the per share exercise price of any Stock
Option awarded by the Chief Executive Officer or the Co-Chief Executive Officers
of the Company pursuant to any delegation of authority permitted hereunder shall
not be less than the Fair Market Value (as hereinafter defined) of the Common
Shares on the date the Stock Option is granted. The terms and conditions of, and
any limitation or restriction on, any such delegation shall be at the sole
discretion of the Compensation Committee and shall be set forth in the
resolution of the Compensation Committee establishing such delegation. Any
delegation pursuant to this Section 2(b) may be revoked by the Compensation
Committee at any time.

         3.       Participants. Participants will consist of such employees or
prospective employees (conditioned upon, and effective not earlier than his
becoming an employee) of the Company, and independent contractors (including
persons other than individuals) providing consulting or advisory services to the
Company, as the Committee in its sole discretion determines to be responsible
for the success and future growth and profitability of the Company and whom the
Committee may designate from time to time to receive Awards under the Plan.
Designation of a participant in any year shall not require the Committee to
designate such person to receive an Award in any other year or, once designated,
to receive the same type or amount of Awards as granted to the participant in
any year. The Committee shall consider such factors as it deems pertinent in
selecting participants and in determining the type and amount of their
respective Awards.

         4.       Types of Awards. Awards under the Plan may be granted in any
one or a combination of (a) Stock Options, (b) Stock Appreciation Rights, (c)
Stock Awards, (d) Performance Shares, and (e) Performance Units, all as
described below (collectively "Awards").

         5.       Shares Reserved under the Plan. Subject to the following
provisions of this Section 5, there is hereby reserved for issuance under the
Plan an aggregate of 7,500,000 Common Shares, which may be authorized but
unissued shares, reduced by the aggregate amount of shares of common stock, $.01
par value, of Omega Research issued prior to the Effective Time pursuant to the
exercise of Stock Options granted under the Plan. Any shares subject to Stock
Options or Stock Appreciation Rights or issued under such options or rights or
as Stock Awards may thereafter be subject to new options, rights or awards under
this Plan if there is a lapse, expiration or termination of any such options or
rights prior to issuance of the shares or the payment of the equivalent or if
shares are issued under such options or rights or as such awards and thereafter
are reacquired by the Company pursuant to rights reserved by the Company upon
issuance thereof.

         6.       Stock Options. Stock Options will consist of awards from the
Company, in the form of agreements, which will enable the holder to purchase a
specific number of Common Shares, at set terms and at a fixed purchase price.
Stock Options may be "incentive stock options" ("Incentive Stock Options")
within the meaning of Section 422 of the Internal Revenue Code of 1986, as
amended (the "Code") or Stock Options which do not constitute Incentive Stock
Options ("Nonqualified Stock Options"). The Committee will have the authority to
grant to any participant one or more Incentive Stock Options, Nonqualified Stock
Options, or both

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types of Stock Options (in each case with or without Stock Appreciation Rights).
Each Stock Option shall be subject to such terms and conditions consistent with
the Plan as the Committee may impose from time to time, subject to the following
limitations:

                  (a) Exercise Price. Each Stock Option granted hereunder shall
have such per-share exercise price as the Committee may determine at the date of
grant provided, however, that the per-share exercise price for Incentive Stock
Options shall not be less than 100% of the Fair Market Value (as hereinafter
defined) of the Common Shares on the date the option is granted.

                  (b) Payment of Exercise Price. The option exercise price may
be paid by check or, in the discretion of the Committee, by the delivery of
Common Shares of the Company then owned by the participant or a combination of
methods of payment; provided, however, that option agreements may provide that
payment of the exercise price by delivery of Common Shares of the Company then
owned by the participant may be made only if such payment does not result in a
charge to earnings for financial accounting purposes as determined by the
Committee. In the discretion of the Committee, if Common Shares are readily
tradeable on a national securities exchange or other market system at the time
of option exercise, payment may also be made by delivering a properly executed
exercise notice to the Company together with a copy of irrevocable instructions
to a broker to deliver promptly to the Company the amount of sale or loan
proceeds to pay the exercise price. To facilitate the foregoing, the Company may
enter into agreements for coordinated procedures with one or more brokerage
firms.

                  (c) Exercise Period. Stock Options granted under the Plan will
be exercisable at such times and subject to such terms and conditions as shall
be determined by the Committee. In addition, Nonqualified Stock Options shall
not be exercisable later than fifteen years after the date they are granted and
Incentive Stock Options shall not be exercisable later than ten years after the
date they are granted. All Stock Options shall terminate at such earlier times
and upon such conditions or circumstances as the Committee shall in its
discretion set forth in such option at the date of grant.

                  (d) Limitations on Incentive Stock Options. Incentive Stock
Options may be granted only to participants who are employees of the Company or
one of its subsidiaries (within the meaning of Section 424(f) of the Code) at
the date of grant. The aggregate Fair Market Value (determined as of the time
the option is granted) of the Common Shares with respect to which Incentive
Stock Options are exercisable for the first time by a participant during any
calendar year (under all option plans of the Company) shall not exceed $100,000.
Incentive Stock Options may not be granted to any participant who, at the time
of grant, owns stock possessing (after the application of the attribution rules
of Section 424(d) of the Code) more than 10% of the total combined voting power
of all classes of stock of the Company, unless the option price is fixed at not
less than 110% of the Fair Market Value of the Common Shares on the date of
grant and the exercise of such option is prohibited by its terms after the
expiration of five years from the date of grant of such option.

                  (e) Redesignation as Nonqualified Stock Options. Options
designated as Incentive Stock Options that fail to continue to meet the
requirements of Section 422 of the Code shall be redesignated as Nonqualified
Stock Options for Federal income tax purposes

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automatically without further action by the Committee on the date of such
failure to continue to meet the requirements of Section 422 of the Code.

                  (f) Limitation of Rights in Shares. The recipient of a Stock
Option shall not be deemed for any purpose to be a shareholder of the Company
with respect to any of the shares subject thereto except to the extent that the
Stock Option shall have been exercised and, in addition, a certificate shall
have been issued and delivered to the participant.

         7. Stock Appreciation Rights. The Committee may, in its discretion,
grant Stock Appreciation Rights to the holders of any Stock Options granted
hereunder. In addition, Stock Appreciation Rights may be granted independently
of and without relation to Stock Options. Each Stock Appreciation Right shall be
subject to such terms and conditions consistent with the Plan as the Committee
shall impose from time to time, including the following:

                  (a) A Stock Appreciation Right relating to a Nonqualified
Stock Option may be made part of such option at the time of its grant or at any
time thereafter up to six months prior to its expiration, and a Stock
Appreciation Right relating to an Incentive Stock Option may be made part of
such option only at the time of its grant.

                  (b) Each Stock Appreciation Right will entitle the holder to
elect in lieu of exercising the Stock Option to receive the appreciation in the
Fair Market Value of the shares subject thereto up to the date the right is
exercised. In the case of a right issued in relation to a Stock Option, such
appreciation shall be measured from not less than the option price and in the
case of a right issued independently of any Stock Option, such appreciation
shall be measured from not less than 85% of the Fair Market Value of the Common
Shares on the date the right is granted. Payment of such appreciation shall be
made in cash or in Common Shares, or a combination thereof, as set forth in the
Award, but no Stock Appreciation Right shall entitle the holder to receive, upon
exercise thereof, more than the number of Common Shares (or cash of equal value)
with respect to which the right is granted.

                  (c) Each Stock Appreciation Right will be exercisable at the
times and to the extent set forth therein, but no Stock Appreciation Right may
be exercisable earlier than six months after the date it was granted or later
than the earlier of (i) the term of the related Stock Option, if any, and (ii)
fifteen years after it was granted. Exercise of a Stock Appreciation Right shall
reduce the number of shares issuable under the Plan (and the related Stock
Option, if any) by the number of shares with respect to which the right is
exercised.

         8. Stock Awards. Stock Awards will consist of Common Shares transferred
to participants without other payment therefor or payment at less than Fair
Market Value as additional compensation for services to the Company. Stock
Awards shall be subject to such terms and conditions as the Committee determines
appropriate, including, without limitation, restrictions on the sale or other
disposition of such shares and rights of the Company to reacquire such shares
for no consideration upon termination of the participant's employment or other
contractual arrangement within specified periods. The Committee may require the
participant to deliver a duly signed stock power, endorsed in blank, relating to
the Common Shares covered by such an Award. The Committee may also require that
the stock certificates evidencing such shares be held in custody until the
restrictions thereon shall have lapsed. The participant shall

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have, with respect to the Common Shares subject to a Stock Award, all of the
rights of a holder of Common Shares of the Company, including the right to
receive dividends and to vote the shares.

         9.       Performance Shares.

                  (a) Performance Shares may be awarded either alone or in
addition to other Awards granted under this Plan and shall consist of the right
to receive Common Shares or cash of an equivalent value at the end of a
specified Performance Period (defined below). The Committee shall determine the
participants to whom and the time or times at which Performance Shares shall be
awarded, the number of Performance Shares to be awarded to any person, the
duration of the period (the "Performance Period") during which, and the
conditions under which, receipt of the Common Shares will be deferred, and the
other terms and conditions of the Award in addition to those set forth in this
Section 9. The Committee may condition the grant of Performance Shares upon the
attainment of specified performance goals or such other factors or criteria as
the Committee shall determine.

                  (b) Performance Shares awarded pursuant to this Section 9
shall be subject to the following terms and conditions:

                      (i) Unless otherwise determined by the Committee at the
         time of the grant of the Award, amounts equal to any dividends declared
         during the Performance Period with respect to the number of Common
         Shares covered by a Performance Share Award will not be paid to the
         participant.

                      (ii) Subject to the provisions of the Performance Share
         Award and this Plan, at the expiration of the Performance Period, share
         certificates and/or cash of an equivalent value (as the Committee may
         determine) shall be delivered to the participant, or his, her or its
         legal representative, in a number equal to the vested shares covered by
         the Performance Share Award.

                       (iii) Subject to the applicable provisions of the
         Performance Share Award and this Plan, upon termination of a
         participant's employment or contractual relationship with the Company
         for any reason during the Performance Period for a given Performance
         Share Award, the Performance Shares in question will vest or be
         forfeited in accordance with the terms and conditions established by
         the Committee.

         10.      Performance Units.

                  (a) Performance Units may be awarded either alone or in
addition to other Awards granted under this Plan and shall consist of the right
to receive a fixed dollar amount, payable in cash or Common Shares or a
combination of both. The Committee shall determine the participants to whom and
the time or times at which Performance Units shall be awarded, the duration of
Performance Units to be awarded to any person, the duration of the period (the
"Performance Cycle") during which, and the conditions under which, a
participant's right to Performance Units will be vested, the ability of
participants to defer the receipt of payment of such Performance Units, and the
other terms and conditions of the Award in addition to those set forth in this
Section 10. The Committee may condition the vesting of Performance Units upon

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the attainment of specified performance goals or such other factors or criteria
as the Committee shall determine.

                  (b) The Performance Units awarded pursuant to this Section 10
shall be subject to the following terms and conditions:

                      (i) At the expiration of the Performance Cycle, the
         Committee shall determine the extent to which the performance goals
         have been achieved, and the percentage of the Performance Units of each
         participant that have vested.

                      (ii) Subject to the applicable provisions of the
         Performance Unit Award and this Plan, at the expiration of the
         Performance Cycle, cash and/or share certificates of an equivalent
         value (as the Committee may determine) shall be delivered to the
         participant, or his, her or its legal representative, in payment of the
         vested Performance Units covered by the Performance Unit Award.

                      (iii) Subject to the applicable provisions of the
         Performance Unit Award and this Plan, upon termination of a
         participant's employment or contractual relationship with the Company
         for any reason during the Performance Cycle for a given Performance
         Unit Award, the Performance Units in question will vest or be forfeited
         in accordance with the terms and conditions established by the
         Committee.

         11.      Adjustment Provisions.

                  (a) If the Company shall at any time change the number of
issued Common Shares without new consideration to the Company (such as by stock
dividend, stock split, recapitalization, reorganization, exchange of shares,
liquidation, combination or other change in corporate structure affecting the
Common Shares other than as contemplated under Section 5 hereof) or make a
distribution of cash or property which has a substantial impact on the value of
issued Common Shares, the total number of shares available for Awards under this
Plan shall be appropriately adjusted and the number of shares covered by each
outstanding Award and the reference price or Fair Market Value for each
outstanding Award shall be adjusted so that the net value of such Award shall
not be changed.

                  (b) In the case of any sale of assets, merger, consolidation,
combination or other corporate reorganization or restructuring of the Company
with or into another corporation which results in the outstanding Common Shares
being converted into or exchanged for different securities, cash or other
property, or any combination thereof (an "Acquisition"), subject to the
provisions of this Plan and any limitation applicable to the Award:

                      (i) any participant to whom a Stock Option has been
         granted shall have the right thereafter and during the term of the
         Stock Option to receive upon exercise thereof the Acquisition
         Consideration (as defined below) receivable upon the Acquisition by a
         holder of the number of Common Shares which might have been obtained
         upon exercise of the Stock Option or portion thereof, as the case may
         be, immediately prior to the Acquisition;

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                      (ii) any participant to whom a Stock Appreciation Right
         has been granted shall have the right thereafter and during the term of
         such right to receive upon exercise thereof the difference on the
         exercise date between the aggregate Fair Market Value of the
         Acquisition Consideration receivable upon such acquisition by a holder
         of the number of Common Shares which are covered by such right and the
         aggregate reference price of such right; and

                      (iii) any participant to whom Performance Shares or
         Performance Units have been awarded shall have the right thereafter and
         during the term of the Award, upon fulfillment of the terms of the
         Award, to receive on the date or dates set forth in the Award, the
         Acquisition Consideration receivable upon the Acquisition by a holder
         of the number of Common Shares which are covered by the Award.

         The term "Acquisition Consideration" shall mean the kind and amount of
         securities, cash or other property or any combination thereof
         receivable in respect of one Common Share upon consummation of an
         Acquisition.

                  (c) Notwithstanding any other provision of this Plan, the
Committee may authorize the issuance, continuation or assumption of Awards or
provide for other equitable adjustments after changes in the Common Shares
resulting from any other merger, consolidation, sale of assets, acquisition of
property or stock, recapitalization, reorganization or similar occurrence upon
such terms and conditions as it may deem equitable and appropriate.

                  (d) In the event that another corporation or business entity
is being acquired by the Company, and the Company assumes outstanding stock
options and/or stock appreciation rights and/or the obligation to make future
grants of options or rights to employees or other persons affiliated with the
acquired entity, the aggregate number of Common Shares available for Awards
under this Plan shall be increased accordingly.

         12.      Nontransferability.

                  (a) Each Award granted under the Plan to a participant shall
not be transferable by such participant otherwise than as required by law or by
will or the laws of descent and distribution, and shall be exercisable, in the
case of an individual, only by him during his lifetime. In the event of the
death of a participant while the participant is rendering services to the
Company, each Stock Option or Stock Appreciation Right theretofore granted to
him shall be exercisable during such period after his death as the Committee
shall in its discretion set forth in such option or right at the date of grant
(but not beyond the stated duration of the option or right) and then only:

                      (i) By the executor or administrator of the estate of the
         deceased participant or the person or persons to whom the deceased
         participant's rights under the Stock Option or Stock Appreciation Right
         shall pass by will or the laws of descent and distribution; and

                      (ii) To the extent that the deceased participant was
         entitled to do so at the date of his death.

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                  (b) Notwithstanding Section 12(a), in the discretion of the
Committee, Awards granted hereunder may be transferred to members of the
participant's immediate family (which for purposes of this Plan shall be limited
to the participant's children, grandchildren and spouse), or to one or more
trusts for the benefit of such immediate family members or partnerships in which
such immediate family members and/or trusts are the only partners, but only if
the Award expressly so provides. In the case of a participant who is not an
individual, transferability shall be determined by the Committee in its sole and
absolute discretion.

         13. Other Provisions. Awards under the Plan may also be subject to such
other provisions (whether or not applicable to any other Awards under the Plan)
as the Committee determines appropriate, including without limitation,
provisions for the installment purchase of Common Shares under Stock Options,
provisions for the installment exercise of Stock Appreciation Rights, provisions
to assist the participant in financing the acquisition of Common Shares,
provisions for the forfeiture of, or restrictions on resale or other disposition
of, Shares acquired under any form of Award, provisions for the acceleration of
exercisability or vesting of Awards in the event of a change of control of the
Company or other reasons, provisions for the payment of the value of Awards to
participants in the event of a change of control of the Company or other
reasons, or provisions to comply with Federal and state securities laws, or
setting forth understandings or conditions as to the participant's employment or
contractual relationship in addition to those specifically provided for under
the Plan.

         14. Fair Market Value. For purposes of this Plan and any Awards
hereunder, Fair Market Value of Common Shares shall be the mean between the
highest and lowest sale prices for the Company's Common Shares as reported on
the Nasdaq National Market (or such other consolidated transaction reporting
system on which such Common Shares are primarily traded) on the date immediately
preceding the date of grant (or on the next preceding trading date if Common
Shares were not traded on the date immediately preceding the date of grant),
provided, however, that until the Company's Common Shares are readily tradeable
on a national securities exchange or market system, or if the Company's Common
Shares are not at the applicable time readily tradeable on a national securities
exchange or other market system, Fair Market Value shall mean the amount
determined in good faith by the Committee as the fair market value of the Common
Shares of the Company.

         15. Withholding. All payments or distributions made pursuant to the
Plan shall be net of any amounts required to be withheld pursuant to applicable
federal, state and local tax withholding requirements. If the Company proposes
or is required to distribute Common Shares pursuant to the Plan, it may require
the recipient to remit to it an amount sufficient to satisfy such tax
withholding requirements prior to the delivery of any certificates for such
Common Shares. The Committee may, in its discretion and subject to such rules as
it may adopt, permit an optionee or Award or right holder to pay all or a
portion of the federal, state and local withholding taxes arising in connection
with (a) the exercise of a Nonqualified Stock Option or a Stock Appreciation
Right, (b) the receipt or vesting of Stock Awards, or (c) the receipt of Common
Shares upon the expiration of the Performance Period or the Performance Cycle,
respectively, with respect to any Performance Shares or Performance Units, by
electing to have the Company withhold Common Shares having a Fair Market Value
equal to the amount to be withheld.

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         16. Tenure. A participant's right, if any, to continue to serve the
Company as an officer, employee, independent contractor, or otherwise, shall not
be enlarged or otherwise affected by such person's designation as a participant
under the Plan, nor shall this Plan in any way interfere with the right of the
Company, subject to the terms of any separate employment agreement to the
contrary, at any time to terminate such employment or to increase or decrease
the compensation of the participant from the rate in existence at the time of
the grant of an Award.

         17. Duration, Amendment and Termination. No Award shall be granted
after June 29, 2006 (the "Expiration Date"); provided, however, that the terms
and conditions applicable to any Award granted prior to such date may thereafter
be amended or modified by mutual agreement between the Company and the
participant or such other persons as may then have an interest therein. Also, by
mutual agreement between the Company and a participant hereunder, under this
Plan or under any other present or future plan of the Company, Awards may be
granted to such participant in substitution and exchange for, and in
cancellation of, any Awards previously granted such participant under this Plan,
or any other present or future plan of the Company. The Board may amend the Plan
from time to time or terminate the Plan at any time. However, no action
authorized by this Section 17 shall reduce the amount of any existing Award or
change the terms and conditions thereof without the participant's consent. The
approval of the Company's shareholders will be required for any amendment to the
Plan which (i) would change the class of persons eligible for the grant of Stock
Options as specified in Section 3 or otherwise materially modify the
requirements as to eligibility for participation in the Plan, or (ii) would
increase the maximum number of shares subject to Stock Options, as specified in
Section 5 (unless made pursuant to the provisions of Section 11) or (iii) is
required to be approved by the shareholders pursuant to the Code, Section 16 of
the Act or by any stock market or exchange on which the Common Shares are
listed. With respect to persons subject to Section 16 of the Act, transactions
under the Plan are intended to comply with all applicable conditions of Rule
16b-3 or its successors under the Act. To the extent any provision of the Plan
or action by the Committee fails to so comply, it shall be deemed null and void,
to the extent permitted by law and deemed advisable by the Committee. Moreover,
in the event the Plan does not include a provision required by Rule 16b-3 to be
stated therein, such provision (other than one relating to eligibility
requirements, or the price and amount of Awards) shall be deemed automatically
to be incorporated by reference into the Plan insofar as participants subject to
Section 16 of the Act are concerned.

         18. Governing Law. This Plan and actions taken in connection herewith
shall be governed and construed in accordance with the laws of the State of
Florida (regardless of the law that might otherwise govern under applicable
Florida principles of conflict of laws).

         19. Shareholder Approvals and Amendments to Plan. The 1996 Incentive
Stock Plan was originally adopted by the Board of Directors of Omega Research
and approved by Omega Research's shareholders effective June 30, 1996.
Subsequent thereto, Omega Research's 1996 Incentive Stock Plan, as amended and
restated, was adopted by the Board of Directors of Omega Research and approved
by its shareholders on August 14, 1997. Omega Research's 1996 Incentive Stock
Plan was further amended (a) to effectuate certain nonmaterial changes by action
of the Board of Directors of Omega Research on February 13, 1998, (b) to
increase the number of Common Shares reserved for issuance under the 1996
Incentive Stock Plan from 3,000,000 to

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4,500,000 by action of the Board of Directors of Omega Research on December 29,
1998, which increase was approved by the shareholders of Omega Research on
August 13, 1999, and (c) to increase the number of shares reserved for issuance
under the 1996 Incentive Stock Plan from 4,500,000 to 7,500,000, which was
approved by the shareholders of Omega Research on December 29, 2000. The Plan
was then assumed as of the Effective Time by the Company pursuant to the
Agreement and, in connection therewith, the Plan was further amended by the
Company's Board of Directors on December 22, 2000 to be effective as of the
Effective Time, to reflect, among other things, the Company's assumption of the
Plan as of the Effective Time and to provide that all shares issuable after the
Effective Time upon exercise of any options or rights granted under the Plan
will be shares of $.01 par value common stock of the Company. The Plan in the
form hereof was approved by the Company's shareholders on December 22, 2000 to
be effective as of the Effective Time. Accordingly, the Plan represents the
original 1996 Incentive Stock Plan as restated and amended and as in effect as
of and after the Effective Time.

                                       10EXHIBIT 4.4

                            TRADESTATION GROUP, INC.

                          EMPLOYEE STOCK PURCHASE PLAN

<PAGE>

                                TABLE OF CONTENTS
                                -----------------

                                                                            Page
                                                                            ----

1.  PURPOSE................................................................... 1

2.  DEFINITIONS............................................................... 1

3.  ADMINISTRATION OF THE PLAN................................................ 3

4.  ELIGIBILITY............................................................... 4

5.  OFFERING PERIODS.......................................................... 4

6.  PARTICIPATION............................................................. 5

7.  PAYROLL DEDUCTIONS........................................................ 5

8.  GRANT OF OPTION........................................................... 5

9.  EXERCISE OF OPTION........................................................ 6

10. DELIVERY.................................................................. 6

11. WITHDRAWAL................................................................ 6

12. TERMINATION OF EMPLOYMENT................................................. 7

13. INTEREST.................................................................. 7

14. STOCK..................................................................... 7

15. DESIGNATION OF BENEFICIARY................................................ 7

16. TRANSFERABILITY........................................................... 8

17. USE OF FUNDS.............................................................. 8

18. REPORTS................................................................... 8

19. ADJUSTMENTS UPON CHANGES IN CAPITALIZATION, DISSOLUTION,
    LIQUIDATION, MERGER OR ASSET SALE......................................... 8

20. AMENDMENT OR TERMINATION.................................................. 9

21. NOTICES...................................................................10

22. NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION............................10

<PAGE>

23. WITHHOLDING OF ADDITIONAL INCOME TAXES....................................10

24. CONDITIONS UPON ISSUANCE OF SHARES........................................11

25. GOVERNING LAW.............................................................11

26. APPROVAL OF BOARD OF DIRECTORS AND STOCKHOLDERS OF
    THE COMPANY...............................................................11

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                            TRADESTATION GROUP, INC.
                          EMPLOYEE STOCK PURCHASE PLAN

         The following constitute the provisions of the Employee Stock Purchase
Plan (the "Plan") of TradeStation Group, Inc., a Florida corporation, which is
being assumed and adopted by TradeStation Group, Inc. pursuant to that certain
Agreement and Plan of Merger and Reorganization dated as of January 19, 2000
among Omega Research, Inc. ("Omega Research"), onlinetradinginc.com corp.,
TradeStation Group, Inc., Omega Acquisition Corporation and Onlinetrading
Acquisition Corporation, as amended (the "Agreement").

         1.       PURPOSE. The purpose of the Plan is to provide all eligible
employees of the Company with an opportunity to purchase Common Stock of the
Company through accumulated payroll deductions so that they may share in the
growth of the Company by acquiring or increasing their proprietary interest in
the Company. The Plan is designed to encourage such employees to remain in the
employ of the Company. The Plan is intended to constitute and qualify as an
"employee stock purchase plan" within the meaning of Section 423(b) of the
Internal Revenue Code of 1986, as amended (the "Code"). The provisions of the
Plan, accordingly, shall be construed so as to extend and limit participation in
a manner consistent with the requirements of such section of the Code. All
capitalized terms as used herein shall have the meanings as set forth herein.

         2.       DEFINITIONS.

                  (a)      "Board" shall mean the Board of Directors of the
Company.

                  (b)      "Common Stock" shall mean shares of the authorized
but unissued common stock of the Company, par value $.01 per share, or shares of
Common Stock reacquired by the Company, including shares purchased in the open
market.

                  (c)      "Company" shall mean TradeStation Group, Inc., a
Florida corporation, and any Designated Parent or Designated Subsidiary of the
Company.

                  (d)      "Compensation" shall mean total cash compensation,
including, without limitation, all base pay or salary, commissions, bonuses,
overtime payments, shift premium, incentive compensation, incentive payments and
other compensation.

                  (e)      "Designated Parent" shall mean any Parent which has
been designated by the Board from time to time in its sole discretion as
eligible to participate in the Plan.

                  (f)      "Designated Subsidiary" shall mean any Subsidiary
which has been designated by the Board from time to time in its sole discretion
as eligible to participate in the Plan and shall include TradeStation
Technologies, Inc. (formerly known as Omega Research, Inc.) and
OnlineTrading.com, Inc. (formerly known as onlinetradinginc.com corp.) on and
after the Effective Time (as defined in the Agreement).

                                       1
<PAGE>

                  (g)      "Employee" shall mean an employee of the Company (i)
whose customary employment is more than twenty (20) hours per week and for more
than five (5) months in any calendar year and (ii) who has completed at least
three (3) months of employment. For purposes of the Plan, the employment
relationship shall be treated as continuing intact while the individual is on
military leave, sick leave or other leave of absence approved by the Company.
Where the period of leave exceeds ninety (90) days and the individual's right to
reemployment is not guaranteed either by statute or by contract, the employment
relationship shall be deemed to have terminated on the ninety-first (91st) day
of such leave.

                  (h)      "Enrollment Date" shall mean the first day of each
Offering Period.

                  (i)      "Exercise Date" shall mean the last day of each
Offering Period.

                  (j)      "Fair Market Value" shall mean, as of any date, the
value of the Common Stock of the Company determined as follows:

                           (1)      If the Common Stock is listed on any
                                    established stock exchange or a national
                                    market system, including, without
                                    limitation, the Nasdaq National Market or
                                    The Nasdaq SmallCap Market of The Nasdaq
                                    Stock Market, its Fair Market Value shall be
                                    the closing sales price for such stock (or
                                    the closing bid, if no sales were reported)
                                    as quoted on such exchange or system for the
                                    last market trading day prior to the date of
                                    such determination, as reported in The Wall
                                    Street Journal or such other source as the
                                    Board or the Committee administering the
                                    Plan deems reliable, or;

                           (2)      If the Common Stock is regularly quoted by a
                                    recognized securities dealer but selling
                                    prices are not reported, its Fair Market
                                    Value shall be the mean of the closing bid
                                    and asked prices for the Common Stock for
                                    the last market trading day prior to the
                                    date of such determination, as reported in
                                    The Wall Street Journal or such other source
                                    as the Board or the Committee deems
                                    reliable, or;

                           (3)      In the absence of an established market for
                                    the Common Stock, its Fair Market Value
                                    shall be determined in good faith by the
                                    Board or the Committee, in its sole and
                                    absolute discretion.

                  (k)      "Offering Periods" shall consist of the six (6) month
periods commencing on the first Trading Day on or after January 1 and July 1 and
ending on the last Trading Day on or before June 30 and December 31 of each
calendar year, respectively. The duration and timing of Offering Periods may be
changed pursuant to Section 5 of the Plan.

                  (l)      "Parent" shall mean any present or future
corporation, domestic or foreign, which is a parent corporation of the Company,
as such term is defined in Section 424(e) of the Code.

                                       2
<PAGE>

                  (m)      "Purchase Price" shall mean an amount equal to
eighty-five percent (85%) of the Fair Market Value of a share of Common Stock on
the Enrollment Date or on the Exercise Date, whichever is lower, in either event
rounded up to the nearest One ($0.01) Cent.

                  (n)      "Reserves" shall mean the number of shares of Common
Stock covered by each option under the Plan that have not yet been exercised and
the number of shares of Common Stock that have been authorized for issuance
under the Plan but not yet placed under option.

                  (o)      "Subsidiary" shall mean any present or future
corporation, domestic or foreign, which is a subsidiary corporation of the
Company, as such term is defined in Section 424(f) of the Code.

                  (p)      "Trading Day" shall mean a day on which national
stock exchanges and the Nasdaq System are open for trading.

         3.       ADMINISTRATION OF THE PLAN.

                  (a)      The Plan shall be administered by the Compensation
Committee appointed by the Board (the "Committee"). The Committee shall consist
of not less than two (2) members of the Board. The Board may from time to time
remove members from, or add members to, the Committee. Vacancies on the
Committee, however caused, shall be filled by the Board. The Committee may
select one (1) of its members as Chairman, and one (1) of its members as
Secretary, and shall hold meetings at such times and places as it may determine.
A majority of the members of the Committee shall constitute a quorum. Acts by a
majority of the members of the Committee, or acts reduced to or approved in
writing by a majority of the members of the Committee, shall be the valid acts
of the Committee. The Committee may make such rules and regulations for the
conduct of its business as it shall deem advisable.

                  (b)      The Committee shall have full and exclusive
discretionary authority (i) to construe, interpret and apply any provisions of
the Plan or of any option granted under it; (ii) to adopt such rules and
regulations for administering the Plan as it shall deem advisable, provided that
any such rules and regulations shall be applied on a uniform basis to all
Employees under the Plan; (iii) to determine eligibility and to adjudicate all
disputed claims filed under the Plan or any option granted under it; and (iv) to
make all other determinations deemed advisable for administering the Plan. Every
finding or determination made by the Committee shall, to the fullest extent
permitted by law, be final and binding upon all parties, unless otherwise
determined by the Board. No member of the Board or the Committee shall be liable
for any action or determination made in good faith with respect to the Plan or
any option granted under it.

                  (c)      In the event the Board fails to appoint or refrains
from appointing the Committee, the Board shall have all power and authority to
administer the Plan. In such event, the word "Committee" wherever used herein
shall be deemed to mean the Board.

                                       3
<PAGE>

         4.       ELIGIBILITY.

                  (a)      Subject to the limitations as provided in Sections 4,
7 and 8 hereof, an option shall be granted under the Plan to all Employees of
the Company to purchase Common Stock of the Company, and such Employees shall
have the same rights and privileges with respect to such option.

                  (b)      Any Employee who shall be employed by the Company on
a given Enrollment Date shall be eligible to participate in the Plan.

                  (c)      Any provisions of the Plan to the contrary
notwithstanding, no Employee shall be granted an option under the Plan:

                           (i)      if such Employee, immediately after such
option was granted, would own stock possessing five percent (5%) or more of the
total combined voting power or value of all classes of stock of the Company or
of any Parent or Subsidiary; or

                           (ii)     if such option would permit his or her
rights to purchase stock under all employee stock purchase plans of the Company
and of any Parent or Subsidiary under Section 423(b) of the Code to accrue at a
rate which exceeds Twenty-Five Thousand Dollars ($25,000) of fair market value
of such stock (determined at the time such option is granted) for each calendar
year in which such option is outstanding at any time.

                  (d)      For purposes of Section 423(b)(3) of the Code and
Section 4(c)(i) hereof:

                           (i)      the rules of Section 424(d) of the Code
(relating to attribution of stock ownership) shall apply in determining the
stock ownership of an individual; and

                           (ii)     stock which such Employee may purchase under
outstanding options shall be treated as stock owned by such Employee.

         (e)      For purposes of Section 423(b)(8) of the Code and Section
4(c)(ii) hereof, the right to purchase stock under an option granted under the
Plan shall accrue on the Exercise Date of each Offering Period.

         5.       OFFERING PERIODS. The Plan shall be implemented by successive
six (6) month Offering Periods with a new Offering Period commencing on the
first Trading Day on or after January 1 and July 1 of each calendar year, or on
such other date as the Board or the Committee shall determine, and ending on the
last Trading Day on or before June 30 and December 31 of each such year,
respectively, and shall continue thereafter until terminated in accordance with
Section 20 hereof; provided, however, that the first Offering Period under the
Plan shall commence with the first Trading Day on or after January 1, 1998. The
Board or the Committee shall have the power to change the duration and timing of
Offering Periods (including the commencement dates thereof) with respect to
future Offering Periods without shareholder approval if such change is announced
at least five (5) business days prior to the scheduled beginning of the first
Offering Period to be affected thereafter.

                                       4
<PAGE>

         6.       PARTICIPATION.

                  (a)      An eligible Employee may become a participant in the
Plan by completing a subscription agreement authorizing payroll deductions in
the form of Exhibit A to the Plan and filing it with the Company's payroll
office prior to the applicable Enrollment Date.

                  (b)      Payroll deductions for a participant shall commence
on the first payroll following the Enrollment Date and shall end on the last
payroll in the Offering Period to which such authorization is applicable, unless
sooner terminated by the participant as provided in Section 11 hereof.

         7.       PAYROLL DEDUCTIONS.

                  (a)      At the time a participant files his or her
subscription agreement, he or she shall elect to have payroll deductions made on
each pay day during each Offering Period in an amount (expressed as a whole
percentage) not less than one percent (1%) but not exceeding ten percent (10%)
of the Compensation that he or she receives on each pay day during such Offering
Period.

                  (b)      All payroll deductions made for a participant shall
be credited to his or her account under the Plan and shall be withheld in whole
percentages only. A participant may not make any additional payments into such
account.

                  (c)      A participant may discontinue his or her
participation in the Plan as provided in Section 11 hereof, but may not increase
or decrease the rate of his or her payroll deductions during an Offering Period.
A participant's subscription agreement shall remain in effect for successive
Offering Periods unless terminated as provided in Section 11 hereof.

                  (d)      Notwithstanding the foregoing, to the extent
necessary to comply with Section 423 of the Code and Section 4(c) hereof, a
participant's payroll deductions may be decreased to zero percent (0%) at any
time during an Offering Period. Payroll deductions shall recommence at the rate
provided in such participant's subscription agreement at the beginning of the
first Offering Period that is scheduled to end in the following calendar year,
unless terminated by the participant as provided in Section 11 hereof.

         8.       GRANT OF OPTION. On the Enrollment Date of each Offering
Period, each eligible Employee participating in such Offering Period shall be
granted an option to purchase on the Exercise Date of such Offering Period at
the applicable Purchase Price a maximum number of full shares of the Company's
Common Stock determined by dividing such Employee's payroll deductions
accumulated prior to such Exercise Date and retained in the Participant's
account as of such date by the applicable Purchase Price; provided, however,
that no Employee shall be permitted to purchase during each Offering Period more
than Five Hundred (500) shares of the Company's Common Stock (subject to any
adjustment pursuant to Section 19 hereof), and provided further, that such
purchase shall be subject to the limitations as provided in Sections 4, 7 and 14
hereof. Exercise of such option shall occur as provided in Section 9 hereof,
unless the

                                       5
<PAGE>

participant has withdrawn pursuant to Section 11 hereof. Such option shall
expire on the last day of such Offering Period. Neither the granting of an
option to any Employee under the Plan nor the payroll deductions from his or her
Compensation shall constitute such Employee a stockholder of the shares covered
by such option until such shares have been actually purchased by such Employee.

         9.       EXERCISE OF OPTION. Unless a participant withdraws from the
Plan as provided in Section 11 hereof, his or her option thereunder for the
purchase of shares of Common Stock of the Company shall be exercised
automatically on the Exercise Date of each Offering Period, and the maximum
number of full shares subject to such option shall be purchased for such
participant at the applicable Purchase Price with the accumulated payroll
deductions in his or her account on such date, subject to the limitations as
provided in Sections 4, 7, 8 and 14 hereof. No fractional shares shall be
purchased; any payroll deductions accumulated in a participant's account that
are not sufficient to purchase a full share on any Exercise Date shall be
retained in the participant's account for the subsequent Offering Period,
subject to earlier withdrawal by the participant as provided in Section 11
hereof. Any other accumulated payroll deductions in a participant's account not
used to exercise his or her option on such date shall be returned as promptly as
practicable to such participant. During a participant's lifetime, a
participant's option to purchase shares hereunder is exercisable only by him or
her. No option granted under the Plan shall be exercised after the Exercise Date
of the Offering Period during which such option is granted or after the
expiration of twenty-seven (27) months from the date such option is granted.

         10.      DELIVERY. As promptly as practicable after each Exercise Date
on which a purchase of shares occurs, the Company shall arrange the delivery to
each participant, as appropriate, of a certificate representing the shares
purchased upon exercise of his or her option.

         11.      WITHDRAWAL.

                  (a)      A participant may withdraw all but not less than all
of the payroll deductions credited to his or her account and not yet used to
exercise his or her option under the Plan at any time by giving written notice
to the Company in the form of Exhibit B to the Plan not later than seven (7)
business days prior to the Exercise Date of each Offering Period, absent a
written waiver of such seven (7) day period, in whole or in part, by the
Committee, in its sole and absolute discretion. All of the participant's payroll
deductions credited to his or her account shall be paid to such participant
promptly after receipt of notice of withdrawal and such participant's option for
the Offering Period shall be automatically terminated, and no further payroll
deductions for the purchase of shares shall be made for such Offering Period. If
a participant withdraws from an Offering Period, payroll deductions shall not
resume at the beginning of the succeeding Offering Period unless the participant
delivers to the Company a new subscription agreement pursuant to Section 6
hereof.

                  (b)      A participant's withdrawal from an Offering Period
shall not have any effect upon his or her eligibility to participate in any
similar plan that may hereafter be adopted by the Company or in any succeeding
Offering Periods that commence after the termination of the Offering Period from
which the participant withdraws.

                                       6
<PAGE>

         12.      TERMINATION OF EMPLOYMENT.

         Upon a participant's ceasing to be an Employee for any reason,
including, without limitation, retirement, voluntary or involuntary termination,
resignation, layoff, discharge or death, he or she shall be deemed to have
elected to withdraw from the Plan and the payroll deductions credited to such
participant's account during the Offering Period but not yet used to exercise
the option shall be returned to such participant or, in the case of his or her
death, to the person or persons entitled thereto under Section 15 hereof, and
such participant's option shall be automatically terminated.

         13.      INTEREST. No interest shall accrue on the payroll deductions
of a participant in the Plan.

         14.      STOCK.

                  (a)      The maximum number of shares of the Company's Common
Stock which may be issued under the Plan shall be Five Hundred Thousand
(500,000) shares, subject to adjustment as provided in Section 19 hereof and
reduced by the number of shares of common stock, $.01 par value, of Omega
Research previously issued upon exercise of options under the Plan prior to its
assumption and adoption by the Company. If any option granted under the Plan
shall expire or terminate for any reason without having been exercised in full
or shall cease for any reason to be exercisable in whole or in part, the
unpurchased shares subject thereto shall again be available under the Plan. If,
on any Exercise Date, the number of shares with respect to which options are to
be exercised exceeds the number of shares then available under the Plan, the
Company shall make a pro rata allocation of the shares remaining available for
purchase in as uniform a manner as shall be practicable and as it shall
determine to be equitable, and the amount of any accumulated payroll deductions
in a participant's account not used to exercise his or her option on such
Exercise Date shall be refunded pursuant to Section 9 hereof.

                  (b)      The participant shall have no interest or voting
rights in shares covered by his or her option until (i) such option has been
exercised pursuant to Section 9 hereof and (ii) the certificate representing the
shares purchased pursuant to the exercise of such option has been delivered to
such participant pursuant to Section 10 hereof.

                  (c)      Shares to be delivered to a participant under the
Plan shall be registered in the name of the participant or in the name of the
participant and another person of legal age as joint tenants with right of
survivorship or as tenants by the entireties.

         15.      DESIGNATION OF BENEFICIARY.

                  (a)      A participant may file a written designation of a
beneficiary who is to receive any shares and cash from the participant's account
under the Plan in the event of such participant's death subsequent to an
Exercise Date on which an option is exercised but prior to delivery to such
participant of such shares and cash. In addition, a participant may file a
written designation of a beneficiary who is to receive any shares and cash from
the participant's account

                                       7
<PAGE>

under the Plan in the event of such participant's death prior to exercise of the
option. If a participant is married and the designated beneficiary is not the
spouse, spousal consent shall be required for such designation to be effective.

                  (b)      Such designation of beneficiary may be changed by the
participant at any time by written notice. In the event of the death of a
participant and in the absence of a beneficiary validly designated under the
Plan who is living at the time of such participant's death, the Company shall
deliver such shares and/or cash to the executor or administrator of the estate
of the participant, or, if no such executor or administrator has been appointed
(to the knowledge of the Company), the Company, in its discretion, may deliver
such shares and/or cash to the spouse or to any one or more dependents or
relatives of the participant, or if no spouse, dependent or relative is known to
the Company, then to such other person as the Company may designate.

         16.      TRANSFERABILITY. Neither payroll deductions credited to a
participant's account nor an option or any rights with regard to the exercise of
an option or to the receipt of shares under the Plan may be assigned,
transferred, pledged or otherwise disposed of in any way (otherwise than by
will, the laws of descent and distribution or as provided in Section 15 hereof)
by the participant. Any such attempt at assignment, transfer, pledge or other
disposition shall be without effect, except that the Company may treat such act
as an election to withdraw funds from an Offering Period in accordance with
Section 11 hereof.

         17.      USE OF FUNDS. All payroll deductions received or held by the
Company under the Plan may be used by the Company for any corporate purpose, and
the Company shall not be obligated to segregate such payroll deductions.

         18.      REPORTS. Individual accounts shall be maintained for each
participant in the Plan. Statements of account shall be given to participating
Employees at least annually, which statements shall set forth the amount of
payroll deductions, the Purchase Price, the number of shares purchased and the
remaining cash balance, if any.

         19.      ADJUSTMENTS UPON CHANGES IN CAPITALIZATION, DISSOLUTION,
                  LIQUIDATION, MERGER OR ASSET SALE.

                  (a)      Changes in Capitalization. Subject to any required
action by the shareholders of the Company, the Reserves, the maximum number of
shares each participant may purchase during each Offering Period as provided in
Section 8 hereof, as well as the price per share and the number of shares of
Common Stock covered by each option under the Plan that has not yet been
exercised shall be proportionately adjusted for any increase or decrease in the
number of issued shares of Common Stock resulting from a stock split, reverse
stock split, stock dividend, combination or reclassification of the Common
Stock, or any other increase or decrease in the number of shares of Common Stock
effected without receipt of consideration by the Company; provided, however,
that conversion of any convertible securities of the Company shall not be deemed
to have been "effected without receipt of consideration." Such adjustment shall
be made by the Board, whose determination in that respect shall be final,
binding and conclusive. Except as expressly provided herein, no issuance by the
Company of shares of stock

                                       8
<PAGE>

of any class, or securities convertible into shares of stock of any class, shall
affect, and no adjustment by reason thereof shall be made with respect to, the
number or price of shares of Common Stock subject to an option.

                  (b)      Dissolution or Liquidation. In the event of the
proposed dissolution or liquidation of the Company, the Offering Period then in
progress shall be shortened by setting a new Exercise Date (the "New Exercise
Date"), and shall terminate immediately prior to the consummation of such
proposed dissolution or liquidation, unless provided otherwise by the Board or
the Committee. The New Exercise Date shall be before the date of the Company's
proposed dissolution or liquidation. The Board or the Committee shall notify
each participant in writing, at least ten (10) business days prior to the New
Exercise Date, that the Exercise Date for the participant's option has been
changed to the New Exercise Date and that the participant's option shall be
exercised automatically on the New Exercise Date, unless prior to such date the
participant has withdrawn from the Offering Period as provided in Section 11
hereof.

                  (c)      Merger or Asset Sale. In the event of a proposed sale
of all or substantially all of the assets of the Company, or the merger of the
Company with or into another corporation, each outstanding option shall be
assumed or an equivalent option substituted by the successor corporation or a
parent or subsidiary of the successor corporation. In the event that the
successor corporation refuses to assume or substitute for the option, the
Offering Period then in progress shall be shortened by setting a new Exercise
Date (the "Sale Exercise Date") and such Offering Period shall end on the Sale
Exercise Date. The Sale Exercise Date shall be before the date of the Company's
proposed sale or merger. The Board or the Committee shall notify each
participant in writing, at least ten (10) business days prior to the Sale
Exercise Date, that the Exercise Date for the participant's option has been
changed to the Sale Exercise Date and that the participant's option shall be
exercised automatically on the Sale Exercise Date, unless prior to such date the
participant has withdrawn from the Offering Period as provided in Section 11
hereof.

         20.      AMENDMENT OR TERMINATION.

                  (a)      The Board may at any time and for any reason
terminate or amend the Plan. Except as provided in Section 19 hereof, no such
termination may affect any option previously granted, provided that an Offering
Period may be terminated by the Board on any Exercise Date if the Board
determines that the termination of the Plan is in the best interests of the
Company and its shareholders. Except as provided in Section 19 hereof, no
amendment may make any change in any option theretofore granted that adversely
affects the rights of any participant under such option, absent the written
consent of such participant. To the extent necessary to comply with Section 423
of the Code (or any successor rule or provision or any other applicable law,
regulation or stock exchange rule), the Company shall obtain shareholder
approval in such a manner and to such a degree as required.

                  (b)      Without shareholder consent and without regard to
whether any participant's rights may be considered to have been adversely
affected as provided in this Section 20, the Board or the Committee shall be
entitled to change an Offering Period, limit the frequency and/or number of
changes in the amount withheld during an Offering Period, establish

                                       9
<PAGE>

the exchange ratio applicable to amounts withheld in a currency other than
United States dollars, permit payroll withholding in excess of the amount
designated by a participant in order to adjust for delays or mistakes in the
Company's processing of properly completed withholding elections, establish
reasonable waiting and adjustment periods and/or accounting and crediting
procedures to ensure that amounts applied toward the purchase of Common Stock
for each participant properly correspond with amounts withheld from the
participant's Compensation, and establish such other limitations or procedures
as the Board or the Committee, in its sole discretion, determines advisable that
are consistent with the Plan.

         21.      NOTICES. All notices or other communications by a participant
to the Company under or in connection with the Plan shall be deemed to have been
duly given when received in the form specified by the Company at the location,
or by the person, designated by the Company for the receipt thereof.

         22.      NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION. By electing to
participate in the Plan, each participant agrees to notify the Company in
writing within thirty (30) days after the participant transfers Common Stock
acquired under the Plan, if such transfer occurs within two (2) years after the
grant of the option pursuant to which such stock was purchased or one (1) year
after the exercise date of such option. Each participant further agrees to
provide any information about such a transfer as may be requested by the Company
in order to assist it in complying with the tax laws.

         23.      WITHHOLDING OF ADDITIONAL INCOME TAXES. By electing to
participate in the Plan, each participant acknowledges that the Company is
required to withhold taxes with respect to the payroll deductions elected by
such participant under the Plan pursuant to Section 7 hereof, and each
participant agrees that the Company may deduct from compensation otherwise
payable to such participant any amount necessary to satisfy such tax withholding
obligations. Each participant further acknowledges that when Common Stock is
purchased under the Plan by such participant pursuant to Section 9 hereof, the
Company may withhold taxes with respect to all or a portion of the excess of the
Fair Market Value over the Purchase Price of such Common Stock, and each
participant agrees that such taxes may be withheld from compensation otherwise
payable to such participant. It is intended that any such tax withholding will
be accomplished in such a manner that the full amount of payroll deductions
elected by a participant under the Plan pursuant to Section 7 hereof will be
used to purchase Common Stock pursuant to Section 9 hereof. However, if an
amount sufficient to satisfy such tax withholding obligations has not, for any
reason, been withheld from compensation otherwise payable to a participant,
then, notwithstanding any other provision of the Plan, the Company may withhold
such taxes from such participant's accumulated payroll deductions and apply the
remaining amount of such deductions to the purchase of Common Stock, unless such
participant pays to the Company an amount sufficient to satisfy such tax
withholding obligations prior to the Exercise Date applicable to such purchase
of Common Stock. Each participant further acknowledges that the Company may be
required to withhold taxes in connection with the disposition of Common Stock
purchased by a participant under the Plan pursuant to Section 9 hereof, and
agrees that the Company may take whatever action it considers appropriate to
satisfy such tax withholding requirements, including, without limitation,
deducting from compensation otherwise payable to such participant an amount
sufficient to satisfy such withholding

                                       10
<PAGE>

requirements or conditioning any such disposition upon the payment by such
participant to the Company of an amount sufficient to satisfy such withholding
requirements.

         24.      CONDITIONS UPON ISSUANCE OF SHARES.

                  (a)      Shares shall not be issued with respect to an option
unless the exercise of such option and the issuance and delivery of such shares
pursuant thereto shall comply with all applicable provisions of law, domestic or
foreign, including, without limitation, the Securities Act of 1933, as amended,
the Securities Exchange Act of 1934, as amended, the rules and regulations
promulgated thereunder, and the requirements of any stock exchange upon which
the shares may then be listed, and shall be further subject to the approval of
counsel for the Company with respect to such compliance.

                  (b)      The Plan is intended to provide shares of Common
Stock for investment and not for resale. The Company does not, however, intend
to restrict or influence any Employee in the conduct of his or her own affairs.
An Employee may, therefore, sell stock purchased under the Plan at any time such
Employee chooses, subject to compliance with any applicable federal or state
securities laws and subject to any restrictions imposed under Section 23 hereof
to ensure that any applicable tax withholding obligations are satisfied. THE
EMPLOYEE ASSUMES THE RISK OF ANY MARKET FLUCTUATIONS IN THE PURCHASE PRICE OF
THE STOCK.

                  (c)      As a condition to the exercise of an option, the
Company may require the person exercising such option to represent and warrant
at the time of any such exercise that the shares are being purchased only for
investment and without any present intention to sell or distribute such shares
if, in the opinion of counsel for the Company, such a representation is required
by any of the aforementioned applicable provisions of law.

         25.      GOVERNING LAW. The validity and construction of the Plan shall
be governed by the laws of the State of Florida, without giving effect to the
principles of conflicts of law thereof.

         26.      APPROVAL OF BOARD OF DIRECTORS AND STOCKHOLDERS OF THE
COMPANY. The Plan was originally adopted by the Board of Directors of Omega
Research and approved by the stockholders of Omega Research effective July 24,
1997. Subsequent thereto, the Plan was amended as of July 1, 1998 by the Board
of Directors of Omega Research to effectuate certain non-material revisions
thereto. The Plan was then assumed and adopted by the Company pursuant to the
Agreement effective as of the Effective Time, and, in connection therewith, was
amended by the Company's Board of Directors on December 22, 2000 to reflect,
among other things, the Company's assumption and adoption of the Plan and to
provide that all shares issuable on and after the Effective Time upon exercise
of any options granted under the Plan will be shares of $.01 par value common
stock of the Company. The Plan in the form hereof was approved by the Company's
shareholders on December 22, 2000. Accordingly, the Plan represents the original
1997 Employee Stock Purchase Plan as restated and amended and as to be in effect
as of and after the Effective Time.

                                       11
<PAGE>

                                    EXHIBIT A
                            TRADESTATION GROUP, INC.

                          EMPLOYEE STOCK PURCHASE PLAN

                             SUBSCRIPTION AGREEMENT

____ Original Application                              Enrollment Date: ________
____ Change in Payroll Deduction Rate
____ Change of Beneficiary(ies)

         1.       ____________________ hereby elects to participate in the
TradeStation Group, Inc. Employee Stock Purchase Plan (the "Plan") and
subscribes to purchase shares of the Common Stock of the Company in accordance
with this Subscription Agreement and the Plan.

         2.       I hereby authorize payroll deductions from each of my
paychecks in the amount of ______ percent (__%) of my Compensation on each
payday (from one percent (1%) to ten percent (10%)) during each Offering Period
in accordance with the Plan. (Please note that no fractional percentages are
permitted.)

         3.       I understand that such payroll deductions shall be accumulated
for the purchase of shares of Common Stock at the applicable Purchase Price
determined in accordance with the Plan. I understand that if I do not withdraw
from an Offering Period, any accumulated payroll deductions will be used to
automatically exercise my option under the Plan.

         4.       I have received a copy of the Plan. I understand that my
participation in the Plan is in all respects subject to the terms and provisions
of the Plan.

         5.       Any shares of Common Stock purchased for me under the Plan
should be issued in the name(s) of (Employee or Employee and another person of
legal age as joint tenants with right of survivorship or as tenants by the
entireties only): ___________________________________________ .

         6.       I understand that if I dispose of any share of the Common
Stock of the Company received by me pursuant to my exercise of an option granted
under the Plan within two (2) years after the grant of such option or one (1)
year after the exercise of such option, I will be treated for federal income tax
purposes as having received ordinary compensation income for the taxable year in
which such disposition occurs in an amount equal to the excess of the fair
market value of such share at the time of such disposition over the purchase
price that I paid for such share. I hereby agree to notify the Company in
writing of such disposition within thirty (30) days after the date of such
disposition, and I will make adequate provision for any applicable federal,
state or other tax withholding obligations resulting from such disposition. The
Company may, but shall not be obligated to, withhold from my compensation any
amount necessary to satisfy

<PAGE>

such tax withholding obligations, including any such withholding necessary to
make available to the Company any tax deductions or benefits attributable to
such disposition.

         7.       I understand that if I dispose of any share of the Common
Stock of the Company received by me pursuant to my exercise of an option granted
under the Plan at any time after the expiration of such aforementioned two (2)
year and one (1) year holding periods, I will be treated for federal income tax
purposes as having received ordinary compensation income for the taxable year in
which such disposition occurs in an amount equal to the lesser of:

                  (a)      the excess of the fair market value of such share at
the time of such disposition over the purchase price that I paid for such share;
or

                  (b)      the excess of the fair market value of such share at
the time of grant of such option over such purchase price.

The remainder of the gain, if any, recognized on such disposition will be taxed
as capital gain.

         8.       I hereby agree to be bound by all of the terms and provisions
of the Plan. The effectiveness of this Subscription Agreement is dependent upon
my eligibility to participate in the Plan.

         9.       In the event of my death, I hereby designate the following as
my beneficiary(ies) to receive all payments and shares, if any, due me under the
Plan:

NAME:(Please print)
                   -------------------------------------------------------------
                          (First)          (Middle)            (Last)

--------------------------------------    -------------------------------
(Relationship)

                                          -------------------------------
                                          (Address)

Employee's Social
Security Number:
                                          -------------------------------

Employee's Address:
                                          -------------------------------

                                          -------------------------------

                                       2
<PAGE>

         I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT SHALL REMAIN IN EFFECT
THROUGHOUT SUCCESSIVE OFFERING PERIODS UNLESS TERMINATED BY ME.

Dated:
      --------------------                ----------------------------------
                                          Signature of Employee

                                          ----------------------------------
                                          Name of Employee (Print or type)

                                          ----------------------------------
                                          Spouse's Signature (If beneficiary
                                          other than spouse)

                                          ----------------------------------
                                          Name of Spouse (Print or type)

                                       3
<PAGE>

                                    EXHIBIT B

                            TRADESTATION GROUP, INC.

                          EMPLOYEE STOCK PURCHASE PLAN

                              NOTICE OF WITHDRAWAL

         The undersigned participant in the Offering Period of the TradeStation
Group, Inc. Employee Stock Purchase Plan that began on ____________, 19__ (the
"Enrollment Date") hereby notifies the Company that he or she hereby withdraws
from the Offering Period. He or she hereby authorizes and directs the Company to
pay to the undersigned as promptly as practicable all of the payroll deductions
credited to his or her account with respect to such Offering Period. The
undersigned understands and agrees that his or her option for such Offering
Period will be automatically terminated. The undersigned understands further
that no further payroll deductions will be made for the purchase of shares of
the Common Stock of the Company in such Offering Period and the undersigned
shall be eligible to participate in any succeeding Offering Periods only by
delivering to the Company a new Subscription Agreement.

                                          Name and Address of Participant:

                                          ----------------------------------

                                          ----------------------------------

                                          ----------------------------------

                                          Signature:

                                          ----------------------------------

                                          Date:
                                               -----------------------------

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