Financial giants to launch UK trading site
Published: 01 Oct 1999 12:07 BST
A new one-hundred-percent British day-trading site called TheShare.com will take on the likes of E*Trade and Charles Schwab for the attention of UK day-traders when it goes live later this year.
TheShare.com, which will hit the Web sometime in the next 90 days, will be following in the footsteps of UK-orientated trading sites from the likes of Schwab, but marks the awakening of UK e-businesses to the potential of online trading.
Concerns have been raised over the pressures of day trading however. The practice is getting closer attention from US regulators after a recent incident in which a day-trader shot and killed several colleagues.
The world of online trading is evidently a small one, as chief executive of TheShare.com is to be none other than Neil Stapley, ex-managing director of Charles Schwab's UK online arm.
Investment bank Goldman Sachs and venture capitalist firms are providing the financial clout for TheShare.com, and it has been reported that the launch of the site will coincide with a ferocious advertising campaign.
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