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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: ynot who wrote (22624)	9/29/1999 9:47:00 PM
From: LastShadow	Respond to of 43080

European bourse due by Nov. 2000 By Gareth Vaughan, CBS MarketWatch Last Update: 8:20 AM ET Sep 23, 1999 NewsWatch BRUSSELS (CBS.MW) -- A pan-European stock market came a step closer Thursday after the chief executive officers of eight European bourses said an electronic market for trading European blue chips will be up and running by November 2000. "The market model will, for the first time, create across Europe, common access for each exchange's customers to the Alliance Markets," the CEO's of the Amsterdam, Brussels, Frankfurt, London, Madrid, Milan, Paris and Zurich stock exchanges, said in a statement. "It marks a major commitment by all eight exchanges and will require each exchange to make changes to the way their market operates," they added. The European market is to have seven main objectives: increasing liquidity, enhancing market transparency, simplifying transaction procedures, minimizing systems complexities for users, attracting new capital flows, serving investor protection and enhancing the integrity of markets. The bourse chiefs agreed on one electronic interface and said the market model and interface will be implemented by Nov. 2000. Thursday's announcement comes despite recent press speculation that the planned euro-bourse was in doubt due to disagreements between the Frankfurt and London stock exchanges. Back in May, the eight European exchanges confirmed plans to establish a pan-European stock market. See full story. And just last Monday the London and Frankfurt stock exchanges began operating under harmonized trading hours. See full story.