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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: JeffA who wrote (23543)	4/5/1999 8:34:00 AM
From: JeffA	Respond to of 90042

24 Hour Trading through ECNs Monday April 5, 8:05 am Eastern Time Company Press Release SOURCE: NexTrade NexTrade ECN First to Launch 24-Hour Trading CLEARWATER, Fla., April 5 /PRNewswire/ -- The NexTrade ECN today announced that it is now the first trading system available for stock trading 24 hours per day, 7 days a week. This innovative approach is possible because of NexTrade's groundbreaking fault-tolerant Constant Server Uptime (CSU) technology. NexTrade makes its technology available to brokerage firms, trading firms, market makers, mutual funds and investment companies, as well as other institutions who wish to take advantage of the availability of after-hours trading or who, in turn, wish to offer after-hours trading to their clients. ''For a long time now, investors have been demanding an after-hours trading system,'' says Mark Yegge, Chairman and CEO of NexTrade. ''Investors want to have a mechanism by which to trade their stocks after the markets close -- and not just by putting in limit orders for execution the next morning. We are responding to the growing need for a system that lets the investor trade any time of the day or night -- from anywhere in the world. ''Most people are at work all day, and don't have the time to tend to their investments during working hours. There is an increasing number of people who are trading on-line and want to make a real-time investment decision. They want their execution now. The NexTrade system can give it to them.'' There has been a great deal of interest in ''extended hours trading'' since the New York Stock Exchange and the Nasdaq Stock Market have announced that they are seriously evaluating a change in operating hours. The New York Stock Exchange is projecting its trading market in the future to be open from 5 A.M. to 12 A.M., and the Nasdaq is investigating extending its market hours. ''NexTrade takes it one step farther by staying open all hours of the day,'' says Yegge. ''We are always looking for ways to make it easier for our institutional customers to help their customers, be it anonymity, faster and better executions, saving money, or the convenience of 24-hour trading. This is the wave of the future, and we are starting it.'' NexTrade is also making its system available through its overseas partners for European and Asian access to 24-hour trading. ''The real future is the globally connected electronic marketplace, with worldwide trading at the touch of a button.'' The NexTrade system is an electronic crossing network (ECN) that allows customer limit orders to interact with the national markets, in many situations providing better executions for those orders. Individuals cannot connect to NexTrade directly but can access the network through their brokerage firm, if their firm subscribes to the NexTrade ECN. NexTrade is based in Clearwater, Florida and has clients worldwide. For more information, please visit invest2000.com SOURCE: NexTrade