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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (49728)	3/4/1999 11:49:00 AM
From: JRI	Read Replies (1) \| Respond to of 132070

The market doesn't agree with you, Michael...<eom>

To: Knighty Tin who wrote (49728)	3/4/1999 12:26:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Mike, here is a good article for you about the role of the Japanese in the global credit bubble. gold-eagle.com HO HO HO Mike

To: Knighty Tin who wrote (49728)	3/4/1999 12:32:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 132070

Mike: we have talked a lot about the impact of on-line investing on the stock market. What if everybody can trade 24 hrs. around clock on-line? What impact would that have on the stock market? Thanks. ---------------------------------- Eclipse to disclose first subscribers to new after-hours trading network By Rebecca Buckman THE WALL STREET JOURNAL NEW YORK — Individual investors are edging closer to accessing a service that has generally been available only to big institutions: after-hours trading. Eclipse Trading Inc., the latest in a string of new electronic-trading systems that are changing the way U.S. securities are traded, is expected to announce Wednesday the first subscribers to its fledgling network. AFTER ECLIPSE STARTS OPERATIONS later this year, the subscribers — New York trading firm Bernard L. Madoff Investment Securities Inc. and Discover Brokerage Direct, the Internet-trading unit of Morgan Stanley Dean Witter & Co. — will send trade orders to the network to be executed outside normal stock-market hours. Discover Brokerage is ninth-largest online broker in terms of trades per day. Madoff, which trades New York Stock Exchange-listed and some Nasdaq Stock Market issues, is one of the largest off-exchange trading firms in Big Board stocks. “There's no reason, if you go home tonight, that you should wait until tomorrow” to have a trade order executed, says Tom O'Connell, a Discover Brokerage executive vice president. He says about 40% of his firm's business comes in after a customer's 6 p.m. local time, and the alliance with Eclipse gives customers a chance to get their trades executed faster. It could also lift some of the burden on Discover Brokerage's computer systems, which, like those at all online brokers, are slammed each morning with a crush of trades built up from the night before. As for Madoff, “to the extent that we can find another venue to trade in, we're very interested,” says Peter Madoff, a senior managing director at the firm, which is named for his brother. Madoff Technologies Inc., a consulting firm founded by Peter Madoff but not affiliated with the trading company, also has taken a stake in Eclipse, an Eclipse spokeswoman said. Eclipse's system, created by two former Securities and Exchange Commission enforcement lawyers, likely will operate initially from 6 p.m. to 9 p.m. Eastern time. Discover Brokerage and Madoff represent “our first major sources of order flow,” though Eclipse hopes to sign up at least three other subscribers before operations begin, says Michael Satow, Eclipse's president and chief executive. Gaining a strong base of order flow, or liquidity, is a serious challenge for all the new trading systems. Meanwhile, online investment bank Wit Capital Corp. is planning a similar after-hours network. Copyright © 1999 Dow Jones & Company, Inc. All Rights Reserved. msnbc.com Message 8138174