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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: Nandu who wrote (3723)	11/9/1998 8:39:00 PM
From: Frank Drumond	Respond to of 13953

One thing is for sure and that is that the "dip" was overdone. Softbank did invest $600 million at $25 per share. So there is lots of support behind this stock as a good Internet play as well as the financial backing to strengthen its position as an online brokerage.

To: Nandu who wrote (3723)	11/10/1998 6:03:00 AM
From: kaydee	Read Replies (1) \| Respond to of 13953

For those interested : Reproduced from WSJ Interactive Edition without permission;;;; interactive.wsj.com ETrade Founder to Introduce Electronic Options Exchange By REBECCA BUCKMAN Staff Reporter of THE WALL STREET JOURNAL A group led by ETrade Group Inc. founder William A. Porter is expected to unveil plans Tuesday for the nation's first electronic options exchange, an innovation that could take business away from traditional, floor-based options traders. The computerized trading system, to be called the International Securities Exchange, probably will be up and running next year, people familiar with the matter said. The move by Mr. Porter, an inventor who founded ETrade in 1982, has been widely anticipated. In fact, rumors about his proposed system -- as well as the global push toward computerized securities trading -- helped to prod the Pacific Exchange into merger negotiations with one of its chief competitors, the Chicago Board Options Exchange, this year, traders have said. Mr. Porter's venture is being backed by a handful of online trading firms, including ETrade and more than one Nasdaq market-making company, these people said. Those firms have joined a consortium called Adirondack Trading Partners, through which they will funnel some options orders to the new exchange. The setup is similar to Roundtable Partners LLC, a consortium of brokerage firms formed in 1995 to send the firms' Nasdaq trade orders to the former Knight Securities Inc. In its latest quarterly report, filed with the Securities and Exchange Commission in August, ETrade, Palo Alto, Calif., said it would invest $2 million in a venture called KAP Group LLC. ETrade spokeswoman Lisa Nash confirmed KAP is the Porter project but declined to say more. Mr. Porter, who is still the chairman of E*Trade, didn't return phone messages. Rick Keating, a spokesman for his new trading group, also declined to comment, deferring questions until a planned news conference in New York Tuesday morning. One person close to the situation said Mr. Porter will be chairman of the exchange. It's unclear exactly how the exchange will function. But the concept has many in the options industry worried. In October, several major options market-making firms formed the Market Enhancement Committee to press exchanges to cut costs, in part to meet the expected electronic challenge. Market makers stand on options exchange floors and make bids and offers against which investors can trade, providing liquidity to facilitate trading. An electronic system likely would discourage middlemen from providing that liquidity. -- Greg Ip contributed to this article. Return to top of page \| Format for printing Copyright © 1998 Dow Jones & Company, Inc. All Rights Reserved.