IAAC...for those here that are keeping one eye on IAAC because they open the 1st global trading brokerage Monday;there are whispers the table is going to be pounded on iaac starting Thurday 1/2 hour after open.600k float.
Paste of CNN transcript 1/17/00
by: DeltaGman
1/17/00 6:23 pm
Msg: 2279 of 2368
TUCKER: And you can't buy them here. Andy Serwer with a look at new ways to buy
stock on international exchanges.
And where else would you do that but on the Web? The details next on IN THE
MONEY.
(COMMERCIAL BREAK)
TUCKER: Buying international stocks can often be more problematic than profitable.
"Fortune" Editor-at-Large Andy Serwer is here to tell us about a company looking to
make the whole experience a whole
lot easier.
And, Andy, how are they going to do that?
SERWER: Well, let me ask you: Have you guys ever tried to buy an international stock
before? I mean, it is a pain, right?
You call up your broker and he or she says, that's fine; I can get it for you, but I got to
charge you, and then the guy in
Europe's going to charge me, so I got to charge you that. So you end up paying double
commissions. Who needs that?
Now, we were talking earlier in the show about 80 ADRs, American Depository
Receipts, and, Rhonda, of course, that's
solved the problem to a great extent because you're just buying those ordinarily. But,
still, there are a log of companies that
don't have ADRs, wonderful, huge, international companies that you'd have to pay
double commissions on. There's some
of them right here: We've got Softbank -- that's that sort of Internet incubator in Japan
-- and Toshiba, of course, Porsche
-- I know Bill likes that one -- and Qantas. Why don't they have a "U" in that word?
Have you ever wondered about that?
SCHAFFLER: That is a little strange.
SERWER: I think that's Australian. You don't need the "U" after the "Q" there. But,
anyway, of course, that's the
Australian airline.
Now, a company called www -- of course -- internationaltrader -- that's intltrader --
there we go -- .com -- is here to
solve the problem. Basically, it's an on-line trading service where you can buy these
international stocks directly without
paying double commissions. And I think that is a good think. What about you guys?
TUCKER: It's sort of interesting.
SCHAFFLER: Yes, how long has this been up and running? Or any sense of how well
they're doing?
SERWER: Well, actually -- good question -- they're just starting up. In fact, if you go to
the site, it's not up and running
yet. It will be, I think, at the end of the week or, I think, starting Monday. The beta site's
there so you can sort of, you
know, get accustomed to it and get those orders ready to go for next Monday, I think is
when it starts up.
So, check it out. I think there's going to be all kinds of other ways of doing this as well,
but it's just another way the
Internet is, you know, changing Wall Street and changing investing.
SCHAFFLER: Yet another way, as if there weren't enough, right?
SERWER: Yet another way. Yes, that's right. You got it.
TUCKER: The revolution continues. Thanks, Andy.
SCHAFFLER: Thanks, Andy.
SERWER: OK.
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