VERSUS Technologies Inc. Responds to TSE Last-Sale Trading
TORONTO, ONTARIO--
E*TRADE Canada Provides Access to Last Sale Trading Session until 5:00 p.m. on TSE
In light of the new trading hours at the TSE which effectively extends trading from 4:05 pm to 5:00 pm at the day's closing price, The VERSUS Network will remain open until 5:00 pm for all retail and institutional customers.
''We're staying open for trading business until 5:00 o'clock'' said Colleen Moorehead, President of VERSUS Technologies Inc. and E*TRADE Canada. '' We want to ensure that our customers can take immediate advantage of longer trading hours, especially in the active markets we are presently seeing.''
LYNXX, VERSUS' block order call market, will offer all investment dealers and institutional customers the ability to trade in the after hours session and will match orders and print trades at the closing price.
For all E*TRADE Canada customers, the after hours session will be introduced in two phases. Effective today, all buy and sell orders (day orders for the current day and good through orders) that are entered prior to 4:00 pm and are outstanding at the close will be eligible to participate in the session. All limit orders at the closing price placed before 4:00 pm will remain in the TSE order book and may be filled until 5:00 pm. Orders can be cancelled during the extended trading session. Early in January 2000, E*TRADE Canada customers will be able to enter a new order or change an existing order after 4:00 pm to trade in the after hours session at the closing price.
''Allowing new or changed orders will require modifications to our system, and we believe that implementing changes prior to Y2K is neither prudent nor in our customers' best interests,'' noted Ms. Moorehead.
All VERSUS and E*TRADE Canada customers can take advantage of longer trading hours by participating in the TSE's last sale trading session through The VERSUS Network.
ABOUT VERSUS
VERSUS Technologies Inc. (TSE, ME: V - news), together with its wholly-owned subsidiary VERSUS Brokerage Services Inc., is a leading provider of electronic securities trading services to the Canadian marketplace. VERSUS' retail business is marketed exclusively in Canada under the E*TRADE Canada name, as a service of VERSUS Brokerage Services Inc. The E*TRADE Canada service is currently offered in all provinces. VERSUS Technologies Inc. and VERSUS Brokerage Services Inc. are headquartered in Toronto, Canada. VERSUS Brokerage Services Inc. is a member of the Investment Dealers Association of Canada, and the Canadian Investor Protection Fund.
E*TRADE Canada is a trademark of E*TRADE Securities, Inc. and is used with their permission.
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Contact:
Versus Technologies Inc.
Doug Steiner
Chairman and Chief Executive Officer
(416) 214-6930
or
VERSUS Technologies Inc. and E*TRADE Canada
Colleen Moorehead
President
(416) 214-6954 |
