Jiway, the electronic equity trading network established by OM and Morgan Stanley, has recruited 30 brokers from the UK, Sweden and Germany who say they will use the system to provide retail access to securities listed on the Nyse, Nasdaq, London, Frankfurt, Paris, Milan, Amsterdam and Stockholm exchanges.
Per Swensson, CEO of Jiway, says: "There is huge potential growth in the private investor market for cross-border equity trading. Jiway’s solution for brokers and their customers is the catalyst that will help stimulate this latent growth, and simultaneously encourage the development of internet brokerage."
Headquartered in London, Jiway is establishing an electronic order and quote driven market providing a single access point for around 6000 US and European shares, and offering custody and corporate action services together with anonymous trading. The facilities will be made available at first to brokers in the UK, Sweden and Germany, and then to France, Switzerland, Holland and Italy during 2001.