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To: Spytrdr who wrote (7129)	6/14/1999 5:20:00 PM
From: Spytrdr	Respond to of 13953

Nasdaq and Softbank (part owner of E*Trade) to announce the launch of sister electronic trading system in Japan..., read on: Nasdaq sets Japan project Electronic-trading system said to mirror Europe's Easdaq market June 14, 1999: 4:53 p.m. ET NEW YORK (Reuters) - The Nasdaq stock market is likely to announce the launch of a sister electronic trading system in Japan, published reports and industry sources said Monday. Nasdaq, the second-largest U.S. stock market, said it would make a "major announcement" at a news briefing early Tuesday morning. The National Association of Securities Dealers, the parent of the Nasdaq Stock Market, would not comment, but the sources and reports suggested it would be another overseas trading system. The Nasdaq already has a European sibling, Easdaq, a Brussels-based system that trades stocks from across Europe. The Japanese newspaper Nihon Keizai Shimbun said the Japanese system would trade stocks of start-up companies, including some U.S. firms listed on Nasdaq. It said the NASD would set up a joint subsidiary with Japan's Softbank Corp. and other firms to fund the system. Few details were available about the planned venture. Nasdaq must hope the Japan-based system avoids the disappointment of its older sister Easdaq. Founded in November 1996 by venture capital groups and fund management companies, Easdaq was billed as one of the first pan-European exchanges with unified rules for listing, trading and clearing. But the electronic market traded just 43 stocks at last check, short of its 1998 year-end goal of 50 listings. Analysts said the Japanese system might prove successful for two reasons: Japanese investors are far more used to sharp stock market moves than Europeans, and there has been enormous growth in small-capitalization stocks in Japan, stirring investor interest in the sector.

To: Spytrdr who wrote (7129)	6/14/1999 5:27:00 PM
From: Spytrdr	Respond to of 13953

Nasdaq and Softbank to Start Japanese Version of Nasdaq Market Bloomberg News June 14, 1999, 1:53 p.m. PT Nasdaq and Softbank to Start Japanese Version of Nasdaq Market Washington, June 14 (Bloomberg) -- The Nasdaq Stock Market and Tokyo-based Softbank Corp. plan to create a Japanese version of the electronic, dealer-run Nasdaq market, a person with knowledge of the agreement said. The market will focus on companies with sales in both the United States and Japan, including some U.S. companies that already trade on Nasdaq, the person said. American and Japanese broker-dealers both would trade shares on the new market, which is expected to start operating as soon as next year, the person said. National Association of Securities Dealers Chairman Frank Zarb, who is in Tokyo discussing the plan with Japan's Ministry of Finance, plans to announce the venture tomorrow at 8:30 a.m. New York time in a news conference from Tokyo and New York, the person said. NASD is an industry group that operates Nasdaq, the second-largest U.S. stock market, and the American Stock Exchange. NASD spokesman Andrew MacMillan declined comment. Nasdaq's plans were reported today in Japan's Nihon Keizai newspaper. Nasdaq will be working with Softbank and some other companies, which haven't yet been selected, to set up the new market, the person said. Softbank is one of the world's largest financiers of online businesses, with stakes in E*Trade Group Inc., 28 percent of Yahoo! Inc., and other companies. The Tokyo- based company last week said it would invest $80 million for a 30- percent stake in Global Sports Inc., a U.S. sporting goods distributor that operates on online retail business. Japan has an over-the-counter index, called Jasdaq, on which Japanese-based companies are listed. It isn't clear how the new market would relate to Jasdaq. Zarb, who is in fierce competition with the New York Stock Exchange and electronic trading networks such as Reuters Group Plc's Instinet Corp., has been pursuing affiliations with eight international stock markets on four continents. He has said his goal is to forge links that would let companies trade their shares around the world. Nasdaq and the Stock Exchange of Hong Kong said in December that they agreed on the first steps of what could be a broader alliance between the two markets. Zarb also said in April that NASD plans to open a Shanghai office next year to recruit more Chinese companies to list on Nasdaq.