Jan 3rd. Here we go.
GlobalTrade Union of Security Dealers, PLC to Launch First Global,
Regulated, 24-Hour, Internet Securities Exchange, Licenses Software
Rights to US Firm
CHARLESTOWN, NEVIS, CARIBBEAN BASIN, Dec 15, 1999 (BUSINESS WIRE) --
GlobalTrade Union of Security Dealers (GUS) (www.gtrade.net) announced
today it will launch the first-ever global, regulated securities
exchange, world-wide, beginning Jan 3, 2000. The Exchange will operate
24-hours-a-day, accommodating the varying world trading hours of all
listed securities, and will provide an orderly and liquid exchange for
regulated International Stocks, Bonds, and other Listed Financial
Instruments (LFIs) denominated in 255 currencies, including Euros, U.S.
Dollars, and British Pounds. All trades transacted on GUS settle
through the International Depository Trust (www.idtc.net.)
"The GUS Exchange is the first independent worldwide exchange that has
been built with what I believe to be all of the ingredients for solid
performance without unnecessary 'special interest' or bureaucratic
regulatory conditions. An emphasis has been placed on liquidity,
fairness, public input, independent but thorough regulation using a
mixture of government regulations in place and private citizens on
staff, open books and standards, independent arbitration boards, and
above all -- members with voting authority." Said Mr. Robin Cotterell,
Chairman of the Board, Global Trade Union of Security Dealers, PLC.
GUS will provide real-time feeds to member firms, and through DTLink,
LLC's Personal Stock Monitor Gold(TM) software (www.dtlink.com),
recently profiled on the Internet's premier software information site
C5/8Net's (NasdaqNM: CNET - news) Download.com (www.download.com). GUS
will offer its feed to additional securities information services, such
as Yahoo!(R) (NasdaqNM: YHOO - news), Dow Jones & Company (NYSE: DJ -
news), and Standard & Poors (NYSE: MHP - news).
GUS utilizes the proprietary securities, financial, and settlement
software AutoEx(R) Exchange Server, developed by Automation Excellence,
Inc. and acquired by GUS under an exclusive agreement. "The AutoEx(R)
Exchange Server is a collection of tools, algorithms, and modules
developed over the years that allows GUS to operate the world's first
Global Securities Exchange", announced Scott Wilson, President of
Automation Excellence. "All of the team members are proud that the day
has finally arrived and during our testing phase in December we are
confident that each of the modules will perform flawlessly in the
trading of International Securities."
GTrade.Network, Inc. (OTCBB: GTRD - news) recently acquired the
world-wide marketing rights, and exclusive United States marketing
rights to the AutoEx(R) software, for 2,000,000 shares of common stock
and an undisclosed amount of cash. GTrade.Network, Inc. will market the
software in the United States to large-scale wholesalers looking to
expand their market penetration using the Internet. The software
incorporates the ability to sell - and settle transactions for -
wholesale products and commodities as well as LFIs.
GUS is a publicly-held corporation. Shareholders include many members
of the GlobalTrade Union of Security Dealers International and
organizations dedicated to strengthening the image of International
Securities trading.
GTrade.Network, Inc. is a venture capital firm that funds and incubates
nascent companies with high growth potential, with an emphasis on
Internet-related and e-commerce businesses.
(Reprinted with permission from GlobalTrade Union of Security Dealers,
PLC.)
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
CONTACT: GTrade.Network, Inc.
Danny Doumanis, 516/859-9750
or
GlobalTrade Union of Security Dealers, PLC
Scott Wilson, 869-469-0134
or
Investor Relations
619/443-6906
or
619/368-6631
WEB PAGE: businesswire.com
GEOGRAPHY: INTERNATIONAL LATIN AMERICA
INDUSTRY CODE: BANKING
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