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To: M Vavolizza who wrote (2420)	9/20/1999 5:14:00 PM
From: M Vavolizza	Respond to of 18222

We are racing the competition at full speed: have you read this? JB Oxford offering Internet access Other e-brokers seen mulling move to build accounts By Emily Church, CBS MarketWatch Last Update: 4:29 PM ET Sep 20, 1999 Also: NewsWatch NEW YORK (CBS.MW) -- JB Oxford on Monday became the first of the larger discount brokerages to dangle "free" Internet access before account holders in an attempt to draw more brokerage and banking customers to its Web services. Other e-brokerages are believed to be mulling a similar move. Today on CBS MarketWatch U.S. stocks close higher CMGI to acquire AdForce Computer Sciences bids $400 million for Nichols Research VoiceStream wireless to buy Aerial Communications Thom Calandra's StockWatch: OPEC as a cartel is back More top stories... CBS MarketWatch Columns Updated: 9/20/99 4:00:22 PM ET The brokerage said it would provide Net access through its own Internet service to customers who keep a minimum of $2,000 in cash in their demand checking account with the firm. See statement. JB Oxford's stock (JBOH: news, msgs) rose 1 1/16, or 14 percent, to 8 1/2 on the day, though it's lost about half its value since early July (see chart below). Its larger peers in the online space, Charles Schwab (SCH: news, msgs), E-Trade (EGRP: news, msgs) and Ameritrade (AMTD: news, msgs), to name a few, also ended higher on the day. The JB Oxford package, called an Npower account, includes online banking services, bill payment at 25 cents a bill and an ATM card. The new service marks JB Oxford's first foray into online banking. More services may be rolled out later, said Chris Jarratt, chief executive of JB Oxford Holdings. The firm, he said, is mulling buying a bank for a charter that would allow it to offer loan services. At what cost? "Frankly, I'm surprised that some of the bigger firms haven't done a deal like this. Internet access is going to become a commodity," said Dan Burke, analyst at Gomez Advisors, a consultant. "We'll see movement in this direction. JB Oxford is not a threat to the big ones yet, but they'll be watching to see if the customers are going to jump on board."