News from Thursday July 8, 1:22 pm Eastern Time
Company Press Release
stox.com Completes First Sale of stox.Broker Trading System to U.S. Firm
VANCOUVER, British Columbia--(BUSINESS WIRE)--July 8, 1999-- stox.com (VSE:URL. - news) stox.com Inc. (VSE:URL - news), a leading provider of real-time equity information and financial services products, is pleased to confirm that it has entered into its first definitive licensing agreement of its marquis stox.Broker(TM), online trading platform, to a brokerage and clearing firm in the United States.
stox.Broker(TM) provides everything an existing brokerage firms needs to go online. Functionality includes a trading interface, portfolio management and tracking, a comprehensive information and research facility, as well as the tools to build a community of users. stox.Broker(TM) hosts, and manages a complete solution that interfaces to many popular clearing engines. With a minimum commitment of just $865,000, (plus a small per user and per trade fee) for the license of the stox.Broker(TM) platform, website design, and one year of financial content and system maintenance, the stox.Broker(TM) solution allows brokerage firms to offer a best-of-breed online product while bypassing previous barriers to entry such as adding to operations and IT staff, and buying and maintaining expensive hardware, software and data feed solutions.
In addition, when combined with the previously announced stox.Pro(TM) information system, stox.Broker(TM) allows for the extension of full service brokerage online. The stox platform provides research and information to the broker; it monitors client portfolios, allows a broker to communicate with one, all, or a selected group of clients, and then allows that customer the convenience of trading online based on the broker's recommendations.
''Although more than 1700 brokerage firms that have expressed a desire to be online by the end of the year 2000, the number one concern we hear from those firms is that they are weary of competing with their own brokers,'' says director of business development for stox.com. ''stox offers a suite of services which will allow brokerage firms to empower, rather than alienate, their existing brokers. By developing the stox.Broker(TM) and stox.Pro(TM) products, our Company is very well positioned to capitalize on the explosive growth in online trading, not by offering online trading ourselves, but by catering to the internet needs of existing brokerages, who will be spending $6.4 billion a year on Internet, extranet and intranet products by 2002.''
As the above mentioned brokerage firm has not announced the details of its online service, stox.com has been asked to maintain the confidentiality of the brokerage firm's identity at this time. A joint press release issued by both parties will follow in the coming weeks.
About stox.com: Headquartered in Vancouver, British Columbia, stox.com Inc. (VSE:URL - news) is listed on the Vancouver Stock Exchange and specializes in the development and marketing of technologies and services that will deliver real-time market data, and financial information, solutions for the development of online trading systems, and co-branded and private labeled web applications for the online financial community. For more information on products and services, please visit our World Wide Web site at www.stox.com.
This press release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. On Behalf of the Board:
Scott Ross Blue, President
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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Contact:
stox.com Inc.
Investor Relations Department
604/685-3171 or 800/797-9999
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