IRVINE, Calif., May 31, 2000 (PRIMEZONE) --- IBC (www.ibchannel.com) - reported today that Amgen, Applied Materials, Cisco (Nasdsaq:CSCO), Dell, Intel (Nasdaq:INTC), Microsoft (Nasdaq:MSFT)and Starbucks began trading today on the Stock Exchange of Hong Kong (SEHK), the second largest exchange in Asia.
"This is a step forward in the development of global trading of the world's leading stocks," Nasdaq Chairman and Chief Executive Officer Frank G. Zarb commented. As our companies pursue business opportunities globally, it makes sense that they offer their stock globally, reinforcing their brand names in the minds of consumers and investors and having the opportunity to access a lower cost capital."
The development of a liquid market in Hong Kong for global stocks would helpto establish it as an integral part of a 24-hour global trading marketlinking theAsian, European and the United States time zones. The sustained economicdevelopment in Hong Kong, China's mainland and the Asian region would createan enormous liquidity pool in this time-zone which would attract the tradingof quality global stocks, and these would in turn provide opportunities forinvestors to diversify their investments and an alternative hedging marketfor cross-border trading activities, Kwong explained.
About IBC
Since 1997, IBC has acquired substantial equity positions in emerging marketleaders such as Wamex Holdings, Inc. (OTCBB:WAMX). The Wamex AlternativeTrading System (ATS), empowers investors to consummate transactions moreefficiently and at a lower cost. The WAMEX ATS provides alternative pools ofliquidity for its members and enables them to trade directly with eachother. This dynamic creates the possibility of price enhancement that is notavailable to investors within the current market structure. The ATS willallow investors to trade amongst themselves; therefore eliminating thelosses associated with proprietary trading so commonly employed againstindividual investors. This trading system is bound to become the majoralternative to trading securities on traditional markets and exchanges.
IBC's flagship business and finance portal, ibchannel.com, is one of themost well known destinations on the Internet. IBChannel.com has aligned withpremier media companies including CNBC, Bloomberg, Raging Bull, The Street,and CNN, as well as the highest quality online financial content providersIPO.com, Morningstar, MarketXT, and StockPoint.IBC Inc.'s business model is an innovative twist on traditional venturecapital companies. Similar to Idealabs!, IBC is an e-business developmentbank that consults, incubates, develops, and grows global emerging growthcompanies in exchange for equity. IBC provides turnkey operational solutionsto deriving revenues and enhancing public awareness for its partners byimplementing advertising, marketing, media placement, strategicpartnerships, and branding strategies. Please see disclaimer at www.ibchannel.com/disclaimer.