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Gold/Mining/Energy : Versus Technologies Inc. (Canada) IPO
V 326.56-0.1%Dec 9 4:00 PM EST
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To: arisetech who wrote (98)7/5/1999 8:54:00 AM
From: arisetech  Read Replies (1) of 131
 
From: newsout@canada-stockwatch.com
Date: Mon, 05 Jul 1999 03:16:19 -0700
Subject: Stockwatch: Versus Technologies Inc - In the News
To:

Globe says Versus could function as a stock exchange

Versus Technologies Inc V
Shares issued 11,619,874 Jul 2 close $15.15
Mon 5 Jul 99 In the News
The Globe and Mail reports in its Saturday edition that Canada's securities
regulators have given the thumbs up to the creation of independent
electronic stock markets, a sea change that will mean intensified
competition for Canada's beleaguered stock exchanges and some modest
benefits for individual investors. The regulators announced Friday proposed
rules that will allow alternative trading systems (ATSs) into Canadian
markets. An ATS is effectively an exchange that links buyers and sellers of
securities through an electronic network, bypassing traditional stock
exchanges. As early as next year, when the final regulations are in place,
any company that wants to set up an electronic stock market will be able to
do so, so long as it follows the rules set out by the Canadian Securities
Administrators (CSA), the consortium of provincial regulators. This means a
player such as Versus Technologies Inc., which runs Internet discount
brokerage E*Trade Canada, could function as a stock exchange rather than
just acting as a broker that moves trades through existing exchanges. The
industry has 90 days to respond to Friday's proposed rules.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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