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Friday, 05/12/2000 5:18:08 PM

Friday, May 12, 2000 5:18:08 PM

Post# of 28
Friday May 12, 2:08 pm Eastern Time
Company Press Release
WAMEX Holdings and Partner to Launch New Round the Clock Global Trading Platform; eSpeed, Inc. and Charles Schwab & Co., Inc. Sign Deal to Give Retail Investors Broader Access to Electronic Trading of U.S. Treasury and U.S. Agency Securities
IRVINE, Calif., May 12, 2000 (PRIMEZONE) -- ( - WAMEX Holdings Inc. (OTCBB:WAMX - news), an Internet and technology company dedicated to creating and dominating an efficient alternative market and exchange for individual and institutional investors, today announced that it has partnered with Interactive Business Channel Inc. to develop and brand the WAMEX ATS via a WAMEX ``Alternative Trading System'' Channel on

WAMEX, has affiliated with companies such as Oracle (Nasdaq:ORCL - news), NYD2, 1 Web Pl., Netholdings and now IBC to create and dominate an efficient Alternative Stock Market. This revolutionary trading system provides investors 24/7 access to trade all registered securities at low cost with anonymity across borders, in any major currency, in nine different languages, and with a link to trade all major exchanges. Moreover, the exchange reduces Spread Exposure by eliminating the intervention of brokers or traders.

WAMEX recently raised $6.9 million dollars to deploy on July 4th, ``Independence day for investors'' -- its proprietary WAMEX Alternative Trading System (ATS), , which empowers investors to consummate transactions more efficiently and at a lower cost. The WAMEX ATS provides alternative pools of liquidity for its members and enables them to trade directly with each other. This dynamic creates the possibility of price enhancement that is not available to investors within the current market structure.

Matthew Marcus, CEO of IBC, stated, ``We are excited about partnering with WAMEX to bring individual and institutional investors the latest in WAMEX quotes, news, resources, and services. We have positioned to bring investors to the forefront of trading technology. WAMEX has convinced us that it will carve out a niche next to Island, Instinet, and other trading systems which enhance the transparency of global markets. We expect WAMEX to model the success of another one of our partners, Market XT, which was bought out by with backing and support from Softbank, Morgan Stanley Dean Witter, Salomon Smith Barney, Bernard L. Madoff Investment Securities and Warburg Pincus Ventures just months after launch.''

Never before has a securities firm opened its limit order book to its clients. WAMEX not only does this, but also displays its orders to the whole world. 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.

WAMEX Advantages:

--24 Hour/7 Day a Week active trading and execution via Internet,
fax or phone
--The fastest trade execution at the lowest cost in the world
--The ability to trade any registered security in the world without
a broker
--The ability to convert currencies and execute stock transactions
--Translation in 9 different languages
--T+O Trades-In most cases instant settlement, confirmation and
clearing with the guarantee of delivery and cash transfer
--Easy-To-Use/Easy-To-Understand Interface
--Direct interaction between small individual investors and
--Unparalleled order management systems that can be programmed to
execute instructions without supervision VELOCITY(TM)
--Communication ability between members via the WAMEX Message System
--Up to date, real time investment information, charts, graphs and
--Move from direct ATS trading to order routing for traditional open
market execution
--Minimized standards for membership Easy-To-Join/ Easy-to-Maintain

eSpeed, Inc. (Nasdaq:ESPD - news), a leading provider of real-time business-to-business electronic marketplaces (, and Charles Schwab & Co., Inc., one of the nation's leading financial service providers (NYSE:SCH - news), today announced they have signed an agreement to offer individual investors broader access to electronic trading of U.S. Treasury and U.S. Agency securities. Through an electronic link to eSpeed, Schwab customers will have the opportunity to buy and sell a broader array of U.S. Treasury securities and U.S. Agency securities via

"Individual investors will soon be able to buy and sell bonds as efficiently as they buy and sell stocks," said eSpeed President Frederick T. Varacchi. "Until now, individual retail investors have not been able to take advantage of the incredible trading opportunities that electronic access to bond markets can provide. This agreement means that the on-line investing revolution has taken a new turn. We're excited to be working with Schwab in changing the way people trade and invest in bonds electronically."

"This is a new relationship between Charles Schwab and eSpeed," said John Ladensack, Senior Vice President of fixed income at Charles Schwab & Co., Inc. "Our agreement is an important part of Schwab's new electronic bond trading system which we plan to roll out this summer. It's all about choice. While our relationship with eSpeed begins with Treasuries and Agencies, it has the potential to expand to other fixed income products."

In size, the U.S. bond markets are more than five times the size of the stock markets. For example, about $40 billion in trades take place on the NASDAQ every day and about $35 billion on the NYSE. These trades represent about 5,000 individual stocks. By comparison, about $200 billion in trades are executed in U.S. Government securities alone, every day.

Electronic access to the bond market will be provided by eSpeed. Execution services for Charles Schwab & Co. Inc.'s trades will be provided by Cantor Fitzgerald, which provides a broad spectrum of institutional brokerage and execution services to the global financial markets and is the world's largest broker of U.S. government securities, Eurobonds, and international sovereign debt. Over $150 billion in transactions cross eSpeed's systems daily. Since 1996, the technology that powers eSpeed's systems has enabled over 500 financial institutions around the globe, including the world's 25 largest bond-trading houses, to trade bonds in an electronic system.


IBC ( 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 ( 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.
-0- CONTACT: Interactive Business Channel Inc.



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