Trade WITHOUT the middle man - avaialble onGlobalnet Freeserves US partner - this is NOT DD on xstream for which I have been forbidden - however it is GOOD information for those who want to save money trading :)
Tue Jul 6 16:14:55 1999 GMT/BST
From:
mg
Freeserve's UKinvest partner in the US - Globalnet Financial (GLBND)
has this morning announced that they will be offering internet dealing
straight through to relevant exchanges. This would cut out the brokers
and market makers !! It'll be interesting to see whether they are able
to offer this service for UK traders when they start their service in
the Autumn. If so - look out Charles Schwab et al.
Tuesday July 6, 6:00 am Eastern Time
Company Press Release
SOURCE: GlobalNet Financial.com, Inc.
GlobalNet Financial.com Licenses Proprietary Real-Time Online Trading
And Execution Software
GlobalNet Creates All Inclusive, Vertically Integrated, Financial
Internet Program, From Content Through Trading and Execution
SANTA MONICA, Calif., July 6 /PRNewswire/ -- GlobalNetFinancial.com,
Inc., (OTC Bulletin Board: GLBND - news), the international multimedia
provider of online financial news and information services, today
announced a licensing agreement with NexTrade. The licensing agreement
provides GlobalNet with royalty free, worldwide rights to NexTrade's
proprietary, cutting edge modular Electronic Direct Access Trading
System (E-DAT). This agreement is a major step in GlobalNet's quest to
become an all inclusive, vertically integrated, provider of global
on-line financial products and services.
NexTrade, based in Clearwater, Florida, is one of only nine SEC
approved Electronic Communications Networks (''ECN''). As an ECN,
NexTrade allows individual customers, whether retail or institutional,
to trade over the counter securities without the involvement of a
principal broker/dealer. NexTrade has the distinction of being the
first and only ECN to offer 24-hour trading to retail investors
through participating broker dealers like GlobalNet and its partners.
Because NexTrade is built on a Windows NT platform, the E-DAT system
can be customized to the sophistication level of the online user,
making it an excellent online platform for both the beginner point and
click investor as well as the active professional money manager.
This transaction strengthens GlobalNet Financial's strategy of
becoming a significant player in the online brokerage industry. The
Company plans to combine its web sites' unique financial content,
investment and analytical tools, and a significant educational
program, to drive on-line trading executions.
Commenting on the announcement, Stanley Hollander, president and chief
executive officer of GlobalNet said, ''Our license of a proprietary
E-DAT Trading System, in conjunction with our previously announced
investment in GRO Corp., an online brokerage firm, enables us to
participate in all facets of the most sophisticated end of the online
trading business.''
Mr. Hollander added, ''E-DAT is the perfect vertical complement to
GlobalNet's online financial content. With the combination of E-DAT
and the licensing of the seamless trading technology being developed
by Telescan (Nasdaq: TSCN - news), a visitor to our web sites can
discover new investment ideas, take advantage of our analytical tools
and execute trades without ever leaving our site.''
Unlike browser-based online brokers who may be selectively routing
order flow to pre-arranged market makers and dealers in return for
payment, E-DAT enables investors, from their own PC's, to enter and
execute trades directly with stock exchanges, market makers and ECN's
through a brokerage firm offering E-DAT software. E-DAT allows
investors' orders to be immediately reflected in the marketplace and
executed in real-time, resulting in better executions with low priced
commissions.
Mark E. Yegge, Chairman and CEO of NexTrade, commented, ''We are
excited about combining the enormous market strengths of GlobalNet
Financial with NexTrade's technological trading advantages. The
synergy among all of the participants involved make for a strategic
partnership that will go a long way toward revolutionizing the global
marketplace.''
About GlobalNet Financial.com, Inc.
GlobalNet Financial.com is an international provider of on-line
financial news and information services designed to combine financial
content, investment tools, on-line trading and other transaction
executions. GlobalNet's subsidiary, MicroCap1000.com,
www.microcap1000.com, focuses on companies with a market
capitalization of under $500 million and is designed to be a leading
source of information on the MicroCap sector featuring original daily
articles and a real-time index. Through GlobalNet's alliance with
Freeserve Limited, the United Kingdom's largest Internet service
provider (ISP), the company launched UK-iNvest.com, www.uk-invest.com
as the exclusive provider of investment information within Freeserve's
Money channel featuring interviews and commentary with leading
investment managers and analysts about stocks, funds and market
trends. GlobalNet anticipates continuing its worldwide expansion of
investor oriented financial sites.
GlobalNet Financial.com, Inc. is headquartered at 2425 Olympic
Boulevard, Suite 660E, Santa Monica, California, 90404; tel:
310.828.8838; fax: 310.828.7218. The company also has offices in
Florida and the United Kingdom. For investor relations, call
1.800.371.4921.
Except for historical information, matters discussed in this news
release that may be considered forward-looking statements could be
subject to certain risks and uncertainties that could cause the actual
results to differ materially from those projected. These include
uncertainties in the market, competition, legal, success of marketing
efforts and other risks detailed from time to time in the company's
SEC reports. The company assumes no obligation to update the
information in this release.
SOURCE: GlobalNet Financial.com, Inc.
Date:
Fri Jul 9 7:54:16 1999 GMT/BST
From:
mg
Looks as if the US market likes the prospect of GLBN getting full
Nasdaq listing - after a reverse split (consolidation) the shares have
moved from $13.5 tp $18.125 in the last few days - with a lot more
forecast to come. Did anyone get some ? Could be an interesting
Internet play from the ground floor - it reached $28 equivalent before
speculation about the reverse split - now that is out of the way and
they're finalising the details of a full Nasdaq listing they're
attracting some serious investors.
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