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The Dublin-based company intends to provide real-time stock prices, trade execution, and in-depth investor information from stock markets in Europe and the US.
"They propose to link up with the Irish Stock Exchange and with the London, Frankfurt and Paris stock exchanges", said a spokesperson for the company.
The new service is to be provided for "millions of customers", according to GNET.
As part of its plan, GNET is recruiting suitably qualified people to fill up to 50 vacancies in its sales and marketing, technical services, administration and settlements departments at the company's Park West Business Park headquarters in Dublin.
Shane Barrington, of GNET's Human Resources Department, said that the company hopes to fill the positions "as soon as possible", but within the next six months in any event.
"Most of the vacancies are in the technical areas, but there are only one each in sales and marketing and administration. This is not really an expansion. The extra staff numbers are required as part of the company's original plan," said Barrington.
The GNET service is due to be operational by summer 2001, the spokesperson said.
GNET started operating in January, 2000, offering end-to-end outsource solutions to let retail financial institutions and other organisations offer customers multiple market stock trading through a single account. The company employs 28 people, all based in Park West.
On-line stock trading tools have been developing apace in Ireland, with most brokers -- including NCB, Davy's and Goodbodys -- all bringing their share trading services on-line. On February 1 the Irish Stock Exchange also announced the launch of CREST Personal Membership, a new electronic way for private investors to hold shares. This service is in conjunction with CRESTCo, the UK-based settlement system operator.
GNET is at www.gnet-europe.com
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