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To: Mac S. Giballa who wrote (22101)6/21/1999 9:59:00 AM
From: RDR  Read Replies (1) of 27307
 
Reuters' Instinet plans role in retail broking

Reuters Story - June 20, 1999 09:12

LONDON, June 20 (Reuters) - Global news and information company Reuters Group Plc said
on Sunday it was talking to a number of companies about using its Instinet electronic brokerage
unit to help serve the retail investor market.

London's Sunday Times reported that Reuters was in talks with the U.S.-based company
Yahoo Inc about a link-up to give private investors access to Internet electronic share-broking
service.

Commenting on the report a Reuters spokesman said the company would not wish to compete
with its large institutional bank and broking customers by serving retail stock investors directly.

Instinet was "talking to a number of companies about how it can help to serve retail investors -
but only in conjunction with other organisations," he said.

He would not comment on whether Yahoo -- one of the most successful search services which
allow users to find content on the worldwide web -- was among those organisations.

The Sunday Times did not mention when an agreement might be concluded but it is understood
that Reuters hopes for a deal by the end of this year.

Instinet has built up a large electronic share-broking service serving institutional clients. Last
week it announced plans to move into the huge bond market.

Money, particularly in the United States, has been pouring into electronic trading systems that
have sprung up to compete with conventional stock exchanges, in an attempt to keep up with
the possible future face of the industry

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