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

To: agent99 who wrote (7513)	6/30/1999 11:31:00 AM
From: snoop dog	Read Replies (2) \| Respond to of 12617

Taf or anyone-- Does anyone know where I can get a list of stocks in various sector groups--hard drives, networkers, chemicals, DRAM, etc... thanks for the help Snoop.

To: agent99 who wrote (7513)	7/2/1999 3:13:00 PM
From: TFF	Read Replies (2) \| Respond to of 12617

Online Trading Gets Even Easier By Megan Barnett Online investing is about to get even simpler. Imagine reading information on your favorite financial Web site, clicking a button for the stock you're interested in trading, and seeing a window pop up that is directly connected to most of the top electronic communications networks. The software, which downloads seamlessly, much like RealNetworks' audio player, displays real-time, streaming financial data. A few clicks later, you've completed your transaction for a $14.95 fee and quit the application, returning to your Web research. The service, called CyberX, is being developed by CyBerCorp, an Austin, Texas-based provider of technology and trading services for day traders. During the past several weeks, the company has struck deals with six of the top ECNs, including Island, Archipelago and Brut. CyberX hopes to position itself as a "super-ECN." Its trading technology hunts and seeks the best price for a trade order among all of the ECNs, essentially combining the orders on each individual ECN into one pool that can be accessed directly by traders. Financial information site Quote.com has already struck a deal to provide CyberX's direct-access trading services through its QCharts product. QCharts, a browser-based desktop application used primarily by active traders at home, is designed to simulate the professional trader's desktop. With CyberX, QCharts is now able to include transaction capability. QCharts operates within a browser but is actually a separate desktop application rather than a Web-based service. In the next six weeks, CyBerCorp expects to release a second version of the CyberX trading system that can be accessed from Web sites. If successful, the trading platform could allow content sites like Quote.com or Yahoo Finance, which aren't registered broker-dealers, to provide their audiences with trading execution capabilities. The liabilities involved in such an endeavor are huge. While online brokerages are ramping up their education centers in response to pressure from the Securities and Exchange Commission, CyberX would essentially allow people to skip the formalities and execute trades immediately. Greg Ferris, COO of CyBerCorp, says that this service is not designed for the average online investor. The firm requires a minimum of $10,000 to open an account and a net worth of $65,000. A typical online brokerage, by contrast, requires around $2,000 to open an account. "We have among the highest requirements in the industry," explains Ferris. "We're not targeting 100 percent of online customers. We're targeting people who know there has got to be a better way to trade." According to Ferris, CyBerCorp's target customers would know the difference between trading through a market maker, which is what most online brokerages do, and trading on an ECN. Market makers typically shave a bit off the top of each trade for themselves, and the trade takes longer because it is executed by a human. ECNs, on the other hand, electronically match buy orders with the closest possible sell orders and can send confirmations in a fraction of the time market makers can. Ferris calls his company's service the "second generation of browser-based trading." Online brokerages are struggling to keep up with swelling volume and customer demand for new technologies like streaming quotes. Meanwhile, content sites are up against online brokerages that continue to increase access to free content. CyBerCorp says that its solution is to provide the best execution capabilities faster by offering a direct-access service rather than an Internet-based service. It's a solution many financial sites would likely consider. "We haven't discussed it, but we wouldn't be opposed to it," says Quote.com's CEO Robert Honeycutt of the new version of CyberX, which is still in development. CyberX also provides trading from 8 a.m. to 5:15 p.m. EST, which is longer than online brokerages currently stay open. As ECNs continue to expand hours of operation, investors will seek outlets that provide access to those networks.