Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (7499)	6/19/1999 9:44:00 PM
From: jaison	Respond to of 12617

>>>IPO quid pro quo squeezes investors<<< Hedge funds allegedly granted pre-IPO allocations by underwriters in exchange for buying stock in the after market OPINION By Christopher Byron MSNBC CONTRIBUTOR msnbc.com

To: TFF who wrote (7499)	6/20/1999 6:42:00 PM
From: agent99	Respond to of 12617

Reuters' Instinet plans role in retail broking Reuters Story - June 20, 1999 09:12 LONDON, June 20 (Reuters) - Global news and information company Reuters Group Plc said on Sunday it was talking to a number of companies about using its Instinet electronic brokerage unit to help serve the retail investor market. London's Sunday Times reported that Reuters was in talks with the U.S.-based company Yahoo Inc about a link-up to give private investors access to Internet electronic share-broking service. Commenting on the report a Reuters spokesman said the company would not wish to compete with its large institutional bank and broking customers by serving retail stock investors directly. Instinet was "talking to a number of companies about how it can help to serve retail investors - but only in conjunction with other organisations," he said. He would not comment on whether Yahoo -- one of the most successful search services which allow users to find content on the worldwide web -- was among those organisations. The Sunday Times did not mention when an agreement might be concluded but it is understood that Reuters hopes for a deal by the end of this year. Instinet has built up a large electronic share-broking service serving institutional clients. Last week it announced plans to move into the huge bond market. Money, particularly in the United States, has been pouring into electronic trading systems that have sprung up to compete with conventional stock exchanges, in an attempt to keep up with the possible future face of the industry

To: TFF who wrote (7499)	6/20/1999 6:55:00 PM
From: agent99	Read Replies (1) \| Respond to of 12617

Reuters plans retail online share service Kirstie Hamilton , City Editor London Times June 20, 1999 REUTERS is preparing to move into the online retail stock-broking market. The information group is in talks with Yahoo!, the internet company, about a link-up that will give private investors access to Instinet, Reuters' share dealing service. So far Instinet has been solely for the use of professional investors. By opening up its services to private investors, Reuters could become a potent force in a potentially lucrative internet broking market. Big Investment banks such as Merrill Lynch and Goldman Sachs have recently become enthusiastic about online broking after initially shying away from the area. Reuters confirmed talks cussions were underway, although declined to confirm details of the service being considered. But people close to the company have indicated that Yahoo!, one of the most successful internet search engines (services that allow people to navigate the worldwide web), is now the preferred partner. Reuters has a small Yahoo! stake dating from the American company's early days. It holds this through its Greenhouse Fund, its venture capital fund set up less with the aim of making huge returns than with gaining access to cutting-edge technology. But it has proved profitable, with some of its investments proving runaway successes. Big banks believe the internet could become the most important channel for private-client dealings within a short time. One analyst expressed surprise that Reuters would attempt to move into an area dominated by its big clients. But the information group may attempt to achieve both aims: break into retail without upsetting clients. "The investor would continue to deal with his or her e-broker and the broker would carry out the transaction," said Reuters. "Investors would not access Instinet directly." Instinet is the world's biggest off-exchange share trader and claims often to be able to execute deals at better prices by matching buyers with sellers than can be achieved on exchanges. Big investors and large brokerage firms are the only customers at present. "They have the technology and the platform," said the analyst. "It makes sense to leverage it further, although in the past the company has always been wary of upsetting its biggest customers." If Instinet does operate only through brokers it will function as a competitor to existing stock exchanges. Over recent months Reuters has shown an increasing enthusiasm for taking on mainstream stock exchanges. Last month it emerged as part of a consortium taking control of Tradepoint, the struggling British electronic share trading system. Reuters teamed up with a number of other investors, including brokers such as Morgan Stanley Dean Witter and JP Morgan, to rescue Tradepoint and finance a new expansion programme. In a move seen as following the same trend, Intercapital, a wholesale broker, said last week it had created an electronic trading alliance with Bloomberg, the American information group that is one of Reuters' biggest rivals. The trading alliance will enable Intercapital to post prices of financial products on Bloomberg screens. Although Reuters has so far avoided confrontation with clients, some analysts believe it could become a big force in the business in its own right should it decide to follow that path. Neither Reuters nor Instinet are well-known brands among private clients but this is not necessarily seen as a drawback. "No one had heard of Freeserve this time last year," said the analyst.