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To: RoseCampion who wrote (56585)	12/24/1999 6:48:00 AM
From: JohnG	Read Replies (1) \| Respond to of 152472

Rose. Actually it is "no sword manuver". My typing stinks. JohnG

To: RoseCampion who wrote (56585)	12/24/1999 10:46:00 AM
From: T L Comiskey	Respond to of 152472

Rose..... "the most important target audience of for Kyo's president's remarks does not include those that natively speak English." Friday - 09:53 12/24/99, EST Nasdaq Japan's Debut Set for June 2000 TOKYO (Reuters) - Japan's growing ranks of capital hungry start-up firms have a new place to park their shares Nasdaq Japan, a joint venture between a Japanese Internet investor and the U.S. National Association of Securities Dealers. Nasdaq Japan said on Friday it would start trading by the end of June as a sister version of the U.S. Nasdaq exchange, aiming for an eventual 24-hour system with electronic links to the European and American Nasdaq markets. But it is expected to face tough competition from the Tokyo Stock Exchange's new Mothers market, which began trading on Wednesday. Mothers short for Market of High Growth and Emerging Stocks is also chasing the growth sector of high-tech firms at the heart of Japan's changing economy as the country emerges from its deep recession. Nasdaq Japan will be run by the Osaka Securities Exchange (OSE) and a Nasdaq Japan operating company, currently a 50-50 joint venture between Japan's Internet giant Softbank Corp and U.S. National Association of Securities Dealers (NASD). INCREASING COMPETITION The two new markets will compete with Japan's traditional exchange for small start-ups, the over-the-counter (OTC) market, which has also been prodded to loosen its stringent listing requirements in the face of the new competition. Softbank's charismatic president Masayoshi Son, said on Friday he expected more startup companies to list in the next year, giving the market more options to bet on potentially high-return investments. ``There should be about 200 to 300 new IPO listings in the next 12 months on Nasdaq Japan, Mothers and OTC combined,' he told a news conference. Son said Nasdaq Japan was aiming to provide investors access to stocks listed in the U.S. and European Nasdaq markets by allowing mutual listings among the three markets, adding it also aimed to trade some Asian stocks on Nasdaq Japan in the future. Son also said it was actively considering transferring some of Softbank units already listed on other exchanges from those exchanges to Nasdaq Japan, to show his company's commitment to the new market. Some of the firms may also be double-listed, he said. Most market participants say there should be enough room at least for both Nasdaq Japan and Mothers. ``The two markets might be a bit different... for instance, Nasdaq Japan might list more companies,' said Hiroshi Sato, equities and bonds manager at Cosmo Securities. ``Anyway, the market has high expectations for both.' WHO HAS THE EDGE? So far, market sources say neither has an obvious edge over the other. The Mothers market has the advantage not only of an earlier start, but also the Tokyo Stock Exchange's domestic name value. But others argue that Nasdaq Japan is more attractive to companies seeking international exposure, as it plans to link the trading network with the overseas Nasdaq markets. ``The Mothers market is really about investing at your own risk, while Nasdaq Japan should be a bit more selective in deciding which firms it lists,' said Kunihiro Hatae, equities manager at Tokyo Securities. More than twenty Japanese firms, mostly high-tech and Internet oriented businesses, have applied for a Mothers listing. Of the first two listings on Mothers, Liquid Audio Japan more than doubled its initial public offer (IPO) price to trade at 6.1 million yen ($59,330) on Friday. Another Internet-related start-up firm, Internet Research Institute, remained bid-only due to strong demand. Cosmo's Sato also said the high bids for both Mothers stocks reflected the high interest among investors in Internet start-ups. Softbank shares finished Friday trade up 5,000 points or 6.87 percent higher at 77,800, helped by another record-setting session on the U.S. Nasdaq. The Nasdaq briefly breached the 4,000 mark, before closing Thursday trade 0.82 percent up at 3,969.44.

To: RoseCampion who wrote (56585)	12/24/1999 12:08:00 PM
From: Poet	Respond to of 152472

Rose, I wanted to add my thanks for your posts on options, particularly on "rolling out" LEAPs. I have so much to learn from you, edamo, PAL, and others and am so very pleased that you're willing to share your considerable knowledge with all of us on the coming options thread. Jill and I, while having made good profits on options trading,are certainly not far along in the learning curve and consider ourselves to be facilitators (rather than leaders) on the options thread.