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Technology Stocks : Softbank Group Corp

SFTBY 72.38

+2.8%

Nov 10 3:58 PM EST

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To: Edwin S. Fujinaka who wrote (5086)	5/9/2000 3:24:00 AM
From: Edwin S. Fujinaka	Read Replies (1) of 6019

Tuesday, May 9, 2000 More Banks Using Softbank's Forex Trading System TOKYO (Nikkei)--A growing number of banks are using the Internet-based foreign exchange trading system developed by Forexbank Co., a Softbank Corp. (9984) group firm. Westdeutsche Landesbank Girozentrale has decided to implement the system for markets in Japan, Hong Kong, Singapore, and Australia. Fuji Bank (8317) and the Tokyo branch of Deutsche Bank have already begun offering services using the system, and Forexbank says it is in the final stages of negotiating contracts with four other banks. A key feature of the system is the collection of each bank's Internet trading at a central data center. For the banks, outsourcing these transactions cuts costs and improves security in terms of system shutdowns and hacker intrusions. There are nearly 30 banks using the system worldwide. (The Nikkei Financial Daily Tuesday edition)

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