EXHIBIT 3 TERMINATION AGREEMENT This Termination Agreement (this "Agreement") is executed by the undersigned shareholders who hold, on the date hereof, at least sixty-seven percent (67%) of the shares of Common Stock, $.01 par value, of TradeStation...

                                                                       EXHIBIT 3
                              TERMINATION AGREEMENT

     This Termination Agreement (this "Agreement") is executed by the
undersigned shareholders who hold, on the date hereof, at least sixty-seven
percent (67%) of the shares of Common Stock, $.01 par value, of TradeStation
Group, Inc. that are subject to the terms of the Voting Trust Agreement, dated
as of January 19, 2000, by and among the WRCF-I 1997 Limited Partnership, a
Texas limited partnership, WRCF-II 1997 Limited Partnership, a Texas limited
partnership, RLCF-I 1997 Limited Partnership, a Texas limited partnership,
RLCF-II 1997 Limited Partnership, a Texas limited partnership, Xxxxxx X. Xxxxx,
Xxxxxx X. Xxxxx Family Limited Partnership, a Florida limited partnership,
Tafazzoli Family Limited Partnership, a Florida limited partnership, Zum Tobel
Family Limited Partnership, a Florida limited partnership, Xxxxx X. Xxxxxxxxx,
Xxxxxxxx X. Xxxxxxx and Xxxx X. Xxxxx, as voting trustee (the "Voting Trust
Agreement").

     The parties hereto hereby agree and declare, pursuant to Section 15(c) of
the Voting Trust Agreement, that the voting trust created under the Voting Trust
Agreement is dissolved effective on April 30, 2002 and the parties hereto are
concurrently with the execution of this Termination Agreement delivering a fully
executed original hereof to Xxxx X. Xxxxx, Voting Trustee.


                                                   
RLCF-I 1997 Limited Partnership                       WRCF-I 1997 Limited Partnership

By:  RLCF-I GP, Inc., the general partner             By:  WRCF-I GP, Inc., the general partner

      By:  /s/ Xxxxx X. Xxxx                               By:  /s/  Xxxxxxx X. Xxxx
           ------------------------------------                 ------------------------------------
           Xxxxx X. Xxxx, President                             Xxxxxxx X. Xxxx, President

RLCF-II 1997 Limited Partnership                      WRCF-II 1997 Limited Partnership

By:  RLCF-II GP, LLC, the general partner             By:  WRCF-II GP, LLC, the general partner

     By:  RLCF-II Manager, Inc.,                           By:  WRCF-II Manager, Inc.,
          the managing member                                   the managing member

     By:   /s/ Xxxxx X. Xxxx                          By:  /s/  Xxxxxxx X. Xxxx
           ------------------------------------            ------------------------------------
           Xxxxx X. Xxxx, President                        Xxxxxxx X. Xxxx, President

Tafazzoli Family Limited Partnership

By:  PMA Corp., the general partner

     By:  /s/ Xxxxxxx Xxxxxxxxx
          -------------------------------------
          Xxxxxxx Xxxxxxxxx, President