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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Morpher who wrote (7382)	5/26/1999 3:43:00 PM
From: funk	Read Replies (1) \| Respond to of 12617

From TSC: thestreet.com Who's to blame? Daytraders, says theglobe.com. The same people behind the rise of theglobe.com's stock are now behind its fall, say co-CEOs Stephan Paternot and Todd Krizelman. "In many cases, unfortunately, it's the daytraders who make these stocks fluctuate wildly," Paternot says. "It's not that there's been a sudden, massive loss of value." Look at that quote ^ HAHAHAHA what a joke! today was so so so much fun !

To: Morpher who wrote (7382)	5/26/1999 5:56:00 PM
From: TFF	Read Replies (1) \| Respond to of 12617

CyBerCorp tests extended trading By Emily Church, CBS MarketWatch Last Update: 3:11 PM ET May 26, 1999 Internet stocks Internet headlines NEW YORK (CBS.MW) -- Even as pressure is building on the Nasdaq Stock Market and the New York Stock Exchange to offer after-hours trading, small companies like Texas-based CyBerCorp are demonstrating just how fast expanded hours can be adopted. But CyBerCorp, a day-trading technology firm, also offers a quick primer on how much demand, or lack thereof, there may be for after-hours trading. The firm's 600 active traders, in turns out, have been shy to ply the after-hours trading waters so far. Volume in the off hours "has been slow" to increase said CyBerCorp Chief Executive Philip Berber. "People weren't comfortable because they weren't in the habit of pre-market trading," he said. "I would say it's more a question of curiosity than commitment." For the past few weeks, CyBerCorp's online active traders have had access to Island ECN, a fast-growing electronic communications network that lets them trade for 90 minutes before the markets open and for 75 minutes after the markets close. The regular markets are open from 9:30 a.m. to 4 p.m. Eastern time. Day traders who use CyBerCorp.'s facilities, rather than trading online from home, have access to the Instinet trading system, owned by Reuters (RTRSY: news, msgs). On Wednesday, the firm is expected to announce agreements with RediBook, another large electronic communications network, and smaller NexTrade. In addition, company executives expect to link with two more networks: Brass Utilities, known as Brut, and Archipelago. Goldman Sachs (GS: news, msgs) and E-Trade (EGRP: news, msgs) have stakes in Archipelago. Pressure from online trading companies is forcing established exchanges to push up their plans for late trading sessions. On Monday, NYSE Chairman Richard Grasso told reporters in New York that he thought after-hours trading might arrive "as soon as July." Nasdaq board members met to discuss their own expanded-hours plans Wednesday, though the head of the parent NASD said extended hours were unlikely before fall, if then. See full story. CyBerCorp handles about 7,000 tickets, or orders to buy or sell, per day. Volume averages 15 million shares a day, Berber said. Like many in the industry, Berber is expecting after-hours online trading to accelerate once customers become more familiar with it and liquidity expands. The networks have been aligning themselves with brokerages to prepare for more electronic trading. Giving active traders access to off-market-hours trading "is where the mainstream online brokerages will be down the road," said Greg Smith of the investment banking company Putnam, Lovell, deGuardiola & Thornton. The networks have been aligning themselves with brokerages to prepare for more electronic trading. Another electronic network, Eclipse Trading, is expected to offer retail online investors access to the ECNs in July. Unlike systems that simply match buyers and sellers online, market makers will set markets in stocks on Eclipse, similar to the way trading is conducted on the Nasdaq and NYSE. Emily Church is New York bureau chief for CBS MarketWatch.