NEW YORK, May 3, 2000 (BUSINESS WIRE) --
IBChannel Inc. To Feature New WAMEX "Alternative Trading
System" Channel On IBChannel.com Network Which Enables
Institutional and Individual Investors To Trade
Securities Directly On The Internet 24/7
WAMEX Holdings Inc. (OTCBB:WAMX), an Internet and technology company dedicated
to creating and dominating an efficient alternative market and exchange for
individual and institutional investors, today announced that it has partnered
with Interactive Business Channel Inc. to develop and brand the WAMEX ATS via a
WAMEX "Alternative Trading System" Channel on IBChannel.com.
CEO Mitchell Cushing stated, "This partnership will provide the exposure that
WAMEX, at this juncture in the Company's growth, requires to bring its
activities to the eyes of the entire investment community."
WAMEX has affiliated with companies such as Oracle, NYD2, 1 Web Pl., Netholdings
and now IBC to create and dominate an efficient Alternative Stock Market. This
revolutionary trading system provides investors 24/7 access to trade all
registered securities at low cost with anonymity across borders, in any major
currency, in nine different languages, and with a link to trade all major
exchanges. Moreover, the exchange reduces Spread Exposure by eliminating the
intervention of brokers or traders.
WAMEX recently raised $6.9 million dollars to deploy on July 4th "Independence
day for investors" -- its proprietary WAMEX Alternative Trading System (ATS),
www.wamx.com , which empowers investors to consummate transactions more
efficiently and at a lower cost. The WAMEX ATS provides alternative pools of
liquidity for its members and enables them to trade directly with each other.
This dynamic creates the possibility of price enhancement that is not available
to investors within the current market structure.
Matthew Marcus, CEO of IBC, stated, "We are excited about partnering with WAMEX
to bring individual and institutional investors the latest in WAMEX quotes,
news, resources, and services. We have positioned IBChannel.com to bring
investors to the forefront of trading technology. WAMEX has convinced us that it
will carve out a niche next to Island, Instinet, and other trading systems which
enhance the transparency of global markets. Henceforth, we expect WAMEX to
eclipse the success of another one of our partners, Market XT, which was bought
out by Tradescape.com with backing and support from Softbank, Morgan Stanley
Dean Witter, Salomon Smith Barney, Bernard L. Madoff Investment Securities and
Warburg Pincus Ventures just months after launch."
WAMEX Advantages:
-- 24 Hour/7 Day a Week active trading and execution via
Internet, fax or phone
-- The fastest trade execution at the lowest cost in the world
-- The ability to trade any registered security in the world
without a broker
-- The ability to convert currencies and execute stock
transactions simultaneously
-- Translation in 9 different languages
-- T+O Trades-In most cases instant settlement, confirmation and
clearing with the guarantee of delivery and cash transfer
-- Easy-To-Use/Easy-To-Understand Interface
-- Direct interaction between small individual investors and
institutions
-- Unparalleled order management systems that can be programmed
to execute instructions without supervision VELOCITY(TM)
-- Communication ability between members via the WAMEX Message
System
-- Up to date, real time investment information, charts, graphs
and quotes
-- Move from direct ATS trading to order routing for traditional
open market execution
-- Minimized standards for membership Easy-To-Join/
Easy-to-Maintain
Never before has a securities firm opened its limit order book to its clients.
WAMEX not only does this, but also displays its orders to the whole world. The
Alternative Trading System will allow investors to trade amongst themselves;
therefore eliminating the losses associated with proprietary trading so commonly
employed against individual investors. This trading system is bound to become
the major alternative to trading securities on traditional markets and
exchanges.
About IBChannel.com
IBC (www.ibchannel.com) is the premier business and finance portal. Interactive
Business Channel Inc. develops and invests in new technology companies and
incubators. IBC provides a full range of resources to infuse emerging growth
companies with the development strategies and financial support needed to
rapidly introduce innovative products and services. Resources include HR,
network infrastructure, consulting and services relating to development and
technology, web development, graphic design, advertising, marketing, competitive
research, legal, accounting and business development support and services.
Certain statements contained in this press release are comprised of information
of a forward-looking nature. Circumstances unknown to the Company at this time
could result in different strategies or decisions made by the Company in the
future which could materially affect the information contained herein.
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
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CONTACT: Interactive Business Channel Inc.
Matthew Marcus, 949/442-8919
info@ibchannel.com
www.ibchannel.com
or
WAMEX Holdings Inc., New York
I.R. Phone, 212/432-6062
I.R. Fax, 212/432-6064
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