IRVINE, Calif., May 4, 2000 (PRIMEZONE) -- (www.ibchannel.com) (www.wamx.com) Nasdaq said Wednesday that it will link up to the newly merged Anglo-German bourse in 2001 to accelerate its attempts to gain a foothold in Europe and, subequently, advance its plan for a global stock market. Nasdaq announced the linkup as the London Stock Exchange and the Deutsche Boerse said they would combine to form Europe's largest exchange to be called iX -- "International Exchanges." The Nasdaq linkup, operating under the auspices of the newly merged exchange, would be called "Nasdaq iX."
"This cuts by months the amount of time it would have taken otherwise to go live and then connect with the rest of the world," Frank Zarb, chairman of the National Association of Securities Dealers, parent company of the Nasdaq, told a New York news conference by telecast from London.
Nasdaq's linkup to the newly merged bourse was scheduled to launch operations in the early part of next year, Zarb said. Nasdaq would own 50 percent of Nasdaq iX, while iX would own the other half of the joint venture. Nasdaq iX, which would be billed as a Pan-European electronic market focused on New Economy companies, will be based in London and operate out of Frankfurt, Nasdaq officials said. Nasdaq iX will envelope London's techMark and Germany's Neuer Markt into its operations.
SEC Chairman Arthur Levitt has been calling for exchange reforms which are aimed at leveling the playing field for Investors. Island ECN President Matthew Andresen recently stated "Chairman Levitt has once again made clear that the traditional markets must do more to embrace enhanced competition and innovation, and that the first step is to level the playing field between the individual investor and the market professional"
So how does an investor capitalize on this global market trend. For a sneak preview visit www.wamx.com.
While the New York Stock Exchange and Nasdaq are currently attempting to go public; one stock to watch is Reuters PLC (Nasdaq:RTRSY), owner of Instinet and WAMEX Holdings, Inc. (OTCBB:WAMX) - the only publicly traded company known to be developing a global "round the clock" Alternative Trading System which may be more powerful than any exchange or trading system now in operation. WAMEX has affiliated with companies such as Oracle (Nasdaq:ORCL), NYD2, 1 Web Pl., Netholdings and IBChannel.com to create a new Alternative Stock Market.
WAMEX has declared July 4, 2000 the official launch of its new electronic Alternative Trading System and "Independence Day for Investors" because it enables investors to trade directly, reducing Spread Exposure by eliminating the intervention of brokers or traders. This revolutionary trading platform provides investors round the clock access to trade all registered securities at low cost with anonymity across all continents, in any major currency, in nine different languages, and with a link to trade all major exchanges.
The Alternative Trading System will allow investors to trade amongst themselves; therefore eliminating the losses associated with proprietary trading so commonly employed against individual investors. This trading system is bound to become the major alternative to trading securities on traditional markets and exchanges.
About IBChannel.com
IBC (www.ibchannel.com) is the premier business and finance portal. Interactive Business Channel Inc. develops and invests in new technology companies and incubators and has taken a 3% equity position in WAMX (www.ibchannel.com/disclaimer). IBC provides a full range of resources to infuse emerging growth companies with the development strategies and financial support needed to rapidly introduce innovative products and services. Resources include HR, network infrastructure, consulting and services relating to development and technology, web development, graphic design, advertising, marketing, competitive research, legal, accounting and business development support and services.