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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: Spytrdr who wrote (7558)	7/12/1999 10:57:00 PM
From: ecommerceman	Read Replies (2) \| Respond to of 13953

Spytrader--You're undoubtedly right about why AMTD fell today despite fairly good news, it had already been accounted for in the price of the stock. Thanks for the article on E*Trade's plans in Britain. As for the daytraders, they're not worth worrying about. Very few of them make money in the long run, as everyone (but them) knows (and they'll find out soon enough...).

To: Spytrdr who wrote (7558)	7/13/1999 12:51:00 PM
From: Spytrdr	Read Replies (1) \| Respond to of 13953

Global network ambitions E-Trade, Goldman take aim at the esoteric markets By Emily Church, CBS MarketWatch Last Update: 12:24 PM ET Jul 13, 1999 NewsWatch NEW YORK (CBS.MW) -- E-Trade and Goldman's moves this week into the wired international markets are signaling yet another sea change in the industry. First, owning the software is the trump card, and secondly, the U.S. stock market -- as rewarding as its been for the first movers online -- ain't nothing up against links to the bond market, foreign exchange, options and international stock trading. On Tuesday, E-Trade (EGRP: news, msgs) said it's buying TIR Holdings Limited for access to the firm's multi-currency securities execution and settlement services for $122 million in E-Trade stock. E-Trade says the deal moves it closer to building the "first global cross-border trading network for online investors." On Monday, in a stunning deal, Goldman Sachs (GS: news, msgs) swooped The Hull Group off the IPO table, buying the technology-savvy market maker for $531 million in cash and Goldman stock and options. Both firms seek to buy their way deeper into the heart of the international blinking screen scene, an area owned by the big, global banks. To date, E-Trade moves abroad, for example, have seemed to concentrate on franchising their retail online brokerage focus. E-Trade's stock was down 1 9/16 to 36 3/4 while Goldman was down 3/8 to 68. Goldman's coup The Hull Group is one of the top market makers in options at the Chicago Board of Exchange and has built a global presence in securities, said Jim Connors, managing director at DH Financial, which offers institutional clients global trading capacity. The deal "puts Goldman right into the fray, right now" he said. "It's a real coup for Goldman. It would take them a decade to replace what Hull's done." Hull, a niche player, can crunch the kind of sophisticated investments that Wall Street's quantitative strategists are advising but that their own firms have trouble delivering, he said. E-Trade said its TIR purchase puts them into the game for equity, fixed income and currency markets in more than 35 countries. TIR and holds seats on multiple stock exchanges around the world, the brokerage said in a release. Of note: TIR's 600 institutional clients. The online broker expects the deal will add to earnings. "TIR's annual revenues, which were approximately $100 million for the 12 months ended April 30, 1999, will significantly diversify" the broker's revenue base, E-Trade said. Emily Church is New York bureau chief for CBS MarketWatch.