SSOI..........Anybody been watching this one, this article looks interesting:Smartserv Online, MEK Securities To Launch Next-Generation Online Bond Trading Network
STAMFORD, Conn.--(BUSINESS WIRE)--Jan. 6, 1999--SmartServ Online, Inc. (OTC-BB:SSOL - news), a leading developer of Internet-based applications serving the wireline and wireless industries, and MEK Securities, a registered securities firm, today agreed to the joint development and operation of the Bond Trading Network (''BondTN''), a next-generation Internet-based bond trading system.
SmartServ Online and MEK have signed a Letter of Intent allowing the companies to design a completely electronic bond marketplace. The companies' combined efforts will result in a radically new trading environment - one that will bring a powerful advantage to the individual investor, for the first time, online.
''SmartServ and MEK view this joint effort as a timely opportunity to bring critical information and online trading to the individual bond investor,'' said Sam Cassetta, SmartServ Online's Chairman and CEO. ''The Bond Market Association currently estimates that overall daily bond trading exceeds $368 billion. With that kind of volume, we see a truly exciting bond trading market being opened even further by electronic trading.''
MEK has obtained the necessary regulatory approvals to run a completely electronic trading system that will be powered by SmartServ Online technology. With these approvals now in place, BondTN will implement a trading network that will operate 24 hours a day, seven days a week, with virtually no geographical boundaries.
''By working with SmartServ, we are now one step closer to giving individual investors the same market clout as institutional investors,'' said Miral Kim-E, President and Founder of MEK Securities. ''When you bring together two companies - one that provides the timely information from which critical decisions are made, the other that enables the desired transaction - the result is quite powerful.''
About SmartServ Online
Launched in 1993, SmartServ Online offers a wide range of Internet-based information and transactional applications designed to deliver value-added services to strategic marketing partners. Recognizing the growth of devices capable of accessing Internet-based information, SmartServ is unique in that it formats and delivers the same information to personal computers (PCs), handheld PCs, wireless handsets, pagers, screen-phones, and interactive voice response systems. Using proprietary software, SmartServ transports applications over landline, Internet and wireless networks. SmartServ's customizable categories of information include: personal watch lists, real-time tick-by-tick quotes, charting, company and financial news, research and analysis reports, stock trading reports, filtered electronic mail, national and local news, sports scores and odds, weather reports, route-specific traffic reports, lottery and Powerball results, horoscopes, and entertainment and local information, such as movie listings.
About MEK Securities
Founded in 1996, MEK Securities LLC is a private, Internet start-up and a registered securities broker dealer. It was the first broker-dealer to gain NASD approval to communicate completely electronically with its customers, including the acceptance of digital signatures and consents (''sigNETures'') on required documents. MEK is registered as a securities broker-dealer with the SEC, NASD, and in 49 states. They are also members of NASD, MSRB and SIPC. MEK is based in Stamford, CT.
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Contact:
Edelman PR Worldwide, New York
David C. Eldredge
212-704-8133
david_eldredge@edelman.com
or
Sam Cassetta
SmartServ Online, Inc.
203-353-5950
sam@smartserv.com
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