Jiway, a joint venture between OM Technology and Morgan Stanley Dean Witter, is set to launch the fir...
Subject to FSA approval making Jiway a 'recognised investment exchange', it will be possible to trade and settle 6,000 equities listed in the US and Europe. Using a real-time internet API-based system, execution and settlement costs will be reduced, while intermediaries using the system will not need to be members of the various local exchanges.
In addition to the expected intermediaries who will use the system, Jiway also offers its own broker services direct to investors who wish to trade over the internet. Investors will have access to real-time price information through their intermediary.
In the past, individuals wishing to invest cross-border have been heavily penalised through high charges. With the ever-growing deregulation and harmonisation, especially in Europe where equity trading volumes have risen by as much as 40% last year, Jiway promises to be a one-stop solution.
Jiway claims that current pan-European trading and settlement costs will be at least halved by the new system.
For more information: www.jiway.com
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