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On-line stock market service to launch
Friday, February 02 2001
by Kevin O' Brady


Irish-owned Global Network Electronic Trading (GNET) is to provide a new on-line
stock market information service for PC and mobile phone users.

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