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Non-Tech : CSFB Direct(DIR)

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To: J. Arzente who wrote (292)	2/29/2000 10:17:00 PM
From: Rob C.	of 406

TOKYO, March 1 (Reuters) - Japanese trading house Mitsui & Co Ltd <8031.T> said on Wednesday it plans to set up a joint venture this month with DLJdirect SFG Securities Inc and Japanese online brokerage Monex Inc to start an electronic communications network (ECN) for stock trading. A Mitsui spokeswoman said the company is also seeking participation by other online securities firms and foreign brokerages. Further details of the plan will be anounced later on Wednesday, she added. The daily Yomiuri Shimbun reported on Wednesday that the three firms plan to form the share trading network venture sometime this month with equity participation by Goldman Sachs <GS.N>, Lehman Brothers <LEH.N> and Japanese online securities houses. In January, Mitsui and Monex Inc said they were considering forming an online stock market with DLJdirect SFG. Monex is 37 percent owned by Sony Corp <6758.T>, while DLJdirect SFG is a joint venture between several Sumitomo Bank Ltd <8318.T> group firms and DLJdirect Inc <DIR.N>, the online brokerage unit of Donaldson Lufkin & Jenrette Inc <DLJ.N> of the United States. The planned network will enable smaller investors to trade stocks after normal trading hours, bypassing the trading systems of the Tokyo Stock Exchange and Japan Securities Dealers Association, Japanese media reported in January.

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