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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who wrote (8556)12/22/2000 3:00:10 PM
From: LPS5   of 12617
 
Deutsche Bank Plans to Build Online Trading Network

Frankfurt, Dec. 22 (Bloomberg) -- Deutsche Bank AG, Europe's
largest bank, plans to set up an online trading network primarily
for private and small institutional investors, a German newspaper
said.

The so-called Electronic Communication Network is expected to
process 400,000 orders a day by 2004, daily Boersen-Zeitung said
in a faxed statement of tomorrow's issue, citing unidentified
Deutsche Bank sources.

By the end of 2001, the project is expected to employ about
100 staff and trade as many as 2,000 companies from 8 a.m. until
11 p.m., the paper said. A Deutsche Bank spokesman declined to
comment, the paper said.

In November, Deutsche Bank said it wants to gain 5,000 medium-
sized companies as customers for its new Internet banking portal
by the end of 2001. The bank invested more than 5.1 million euros
in the portal.
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