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I have no interest in this company and read this for the first time this
morning. It is a long article, so if you are not interested, delete
it. Ira.
By BridgeNews
New York--Jul 18--The Financial Commerce Network Inc. launched its
Web-based futures trading system, designed to give the general public
the
ability to trade electronic based futures online. The system will be
operational by the end of July.
--Edward Drossman, Bridge News
The following is the text of today's announcement with emphasis added by
BridgeNews. BridgeStation links to company data have been inserted at
the end:
TFCN Announces 'Next Generation Web Futures' Trading for the General
Public
NEW YORK, July 18 -- THE FINANCIAL COMMERCE NETWORK INC. (OTC
BULLETIN BOARD: FCNI), HAS ANNOUNCED THE LAUNCH OF "NEXT
GENERATION WEB FUTURES," IT'S WEB BASED FUTURES TRADING SYSTEM
THAT PROVIDES THE GENERAL PUBLIC THE ABILITY TO TRADE ELECTRONIC
BASED FUTURES ONLINE BY THE END OF JULY 2000.
TFCN has been offering online equity trading to accredited investors and
institutions since the 4th quarter of 1999 and recently added online
equity
trading to retail customers to its line of financial products. The
addition of
the "Next Generation Web Futures" broadens TFCN's online financial
services package for investors. TFCN sees the addition of derivative
trading essential to the growth of its online brokerage presence. "Over
the
last few years we have seen the sophistication of the average investor
increase, we fe el it is important to be able to offer more
sophisticated
products. Hiring Mike Segal, with over thirty years of experience in
derivatives trading, to spearhead this effort was the first step in this
direction. Bringing commodities trading online -- with features like low
commission rates, low balance requirements, and the lowest margin
requirements allowed by law, allows the average investor to participate
in
a market that has previously only been accessible to high net worth
individuals and institutions," said TFCN Chairman and CEO Richard Bach.
Commenting on the launch, Michael S. Segal, President of Alexander,
Wescott & Co., Inc Alternative Investment Division said " This brings
the
futures to the present for all investors who seek diversification in
their
investment portfolios. There is a need and demand for electronic futures
trading which will be satisfied by our new product. We have developed
"Next Generation Web Futures" trading system that will keep pace with
growth in electronic futures trading over the next 5 to 10 years. All
investors will have the ability to trade Futures and Options contracts
with
exchange minimum margins directly on line from any computer with
Internet access worldwide. Traders who demand personalized guidance will
still have the ability to talk with an experienced broker but the growth
in
the industry will be in online trading as in the financial products that
we
offer to our growing family of investors."
About TFCN: TFCN is a provider of financial services to accredited
investors and institutions that has recently begun offering its services
to
retail customers. Through its wholly owned subsidiary, Alexander,
Wescott
& Co., Inc (member NASD, SIPC, NFA) offers execution and investment
banking services to accredited and institutional investors. TFCN has
also
developed a website (http://www.tfcn.com ) where customers can browse
through some of the finest products available. TFCN also operates a site
for investment education for the beginning investor at
http://www.Stockchicken.com and a premiere e-commerce site featuring
Irish products at http:// www.Irishheritagestore.com In addition to
these
wholly owned businesses, TFCN has interest in Naturalist.com, a leading
online resource for the outdoor enthusiast and Harborzone.com, a leading
edge web hosting solutions provider. For more information contact TFCN
at
investors@xxxxxxxx, or call 800.713.3768.
NOTE: THE RISK OF LOSS IN TRADING COMMODITY FUTURES CONTRACTS
CAN BE SUBSTANTIAL. YOU SHOULD, THEREFORE, CAREFULLY CONSIDER
WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR
CIRCUMSTANCES AND FINANCIAL RESOURCES.
Disclaimer: This news release contains forward-looking statement as
defined by the Private Securities Litigation reform Act of 1995.
Forward-looking statements include statement concerning plans,
objectives, goals, strategies, future events, or performance, and
underlying assumptions and othe r statements which are other than
statement of historical fact. These statements are subject to
uncertainties and risks including, but not limited to, product and
service
demand and acceptance, change in technology, economic conditions, the
impact of competition and pricing, government regulation, and other
risks
define din this document and in statements filed from time to time with
the
Securities and Exchange Commission. All such forward-looking statements,
whether written or oral, and whether made by or on behalf of the
Company, are expressly qualified by the cautionary statements and any
other cautionary statements which may accompany the forward-looking
statements. In addition, the company disclaims any obligation to update
any forward-looking statements to reflect events or circumstances after
the date hereof.
SOURCE The Financial Commerce Network
/CONTACT: Ara Proudian, President of The Financial Commerce
Network,212-742-9870/
/Web site: http://www.tfcn.com/
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