Thursday September 14, 1:57 pm Eastern Time
Press Release
SOURCE: OTC News Network
via BCE Emergis e-News Services
OTC News Network Readers First to Gain Access to First Alternative Trading System for OTCBB Stocks
Houston, Texas
11 OTCBB stocks to be play-traded online starting September 18
OTC News Network Inc. (www.otcnn.com), the leading daily online news source focusing exclusively on providing unbiased daily news coverage of the OTC Bulletin Board (OTCBB) stock market, announced today that its readers can now be among the first ever to try out the world's first automated OTCBB Alternative Trading System, forerunner of what some call the new era in investing. The OTCBB stocks included in the first phase of the program include Applied Medical Devices (OTCBB: AMDI - news), AmeriResource (OTCBB: ARET - news), Infotopia (OTCBB: IFTP - news), LearnCom (OTCBB: LRCM - news), MPTV, Inc. (OTCBB: MPTV - news), Kaire Holdings (OTCBB: KAHI - news), NCT Group (OTCBB: NCTI - news), Pinnacle Business Management (OTCBB: PCBM - news), Safe Technologies International (OTCBB: SFAD - news), Broadband Wireless (OTCBB: BBAN - news), and Thermo Tech (OTCBB: TTRIF - news).
Broker-dealer GlobeNet Capital Corporation is beta-testing its ATS Order Management System and wants to stress-test its ability to handle high volume in a free ``trade-for-fun'' experiment starting Monday, September 18 and continuing through Wednesday, September 26, prior to actually going online for real in mid-October.
``OTC News Network has rapidly become the leading news source for OTCBB investors by being the only major news site to provide information of lesser know publicly traded companies trading on the OTCBB. Now, our readers will be among the first ever to try out the first automated alternative trading system,'' says Sam Mele, president of OTC News Network, Inc.
Anyone with a Java-enabled Internet Explorer or Netscape, 4.0 version or higher, you can take part of the test. Further instructions are available on OTC News Network at otcnn.com
No personal information is needed to participate in the test. GlobeNet will send user a username and password that will permit him/her to play-trade at will in the chosen OTCBB test stocks.
Individual investors can try the ATS during the test, but when it goes fully operative, only subscribing brokers will be able to use the system on behalf of their investors.
``We have been beta-testing the system for months,'' said Chris Barber, VP and Chief Technology Officer. ``We've had 15 traders pounding on the system. We are happy with the results so far. But while we can simulate usage, we can't test the system as we could if we had hits from thousand of users from thousands of different places. That will tell us how our servers work under stress conditions. That's why we are asking OTC News Network readers to help us out,'' Barber said.
OTC News Network will cover news of the investor test as it progresses, but is not a participant in any way, having no interest in GlobeNet. OTCNN does not endorse or recommend GlobeNet in any way. This offer to participate in GlobeNet's beta test is made exclusively by GlobeNet, not by OTCNN.
About OTC News Network OTCNN is the first major daily online news source focusing exclusively on providing unbiased daily news coverage of the Over-The-Counter Bulletin Board (OTCBB) stock market, the companies that trade there and the trends that affect them and their shareholders. The OTCBB is a market supported by the National Association of Securities Dealers (NASD), the organization behind NASDAQ. OTCNN's business model is not based on paid editorial content, making the unbiased news source similar to other leading sites such as CNBC.com, CNN.com, a unit of Time Warner Inc., and CBS MarketWatch.com. For more information on OTC News Network, visit www.otcnn.com.
About the OTC Bulletin Board market In early 1999, the National Association of Securities Dealers (NASD) and the Securities and Exchange Commission teamed up to increase the legitimacy of the OTCBB marketplace. One of the most significant changes was the NASD's new Eligibility Rule, approved by the SEC on January 5, 1999. The rule states that only those companies that report their current financial information to the SEC, banking or insurance regulators may be quoted on the OTCBB. As a result of these changes, the OTCBB started its transformation from a wild, unregulated market consisting of non-reporting companies, to a more legitimate marketplace.
The OTCBB is the fastest growing stock market in the U.S. Currently, there are over 3,900 companies listed on the OTCBB. Even though the number of companies listed has temporarily gone down, the OTCBB's trading volumes in dollar terms continues to go up. The total dollar volume went up from $33.4 billion in 1998 to $63.1 billion in 1999, and has continued to increase steadily. During the first six months of this year, total dollar volume alone represented $84.3 billion. It is apparent that more and more investors are finding this `new' marketplace, and want to find more information on the companies they are interested in.
The sole source of this information is OTC News Network, which is a privately held company. This is not a recommendation to buy or sell securities of OTC News Network, Inc. or of any other publicly traded company mentioned in this press release.
Contact: OTC News Network, Houston Sam Mele, 713/840-8078 smele@otcnn.com
SOURCE: OTC News Network |
