Stock market goes on line
The service, which started last week, offers daily stock exchange results and financial analysis of listed companies and will "give more service for our customers ... and get some customers from other countries too," said Wojciech Sadowski, president of BOC brokerage house.
Some analysts downplayed the significance of the new brokerage house Internet service, citing competition from on-line traditional financial news sources and Internet limited outreach.
"There are not many investors who have access to Internet," said Rafal Lis, analyst at Bank Gospodarki Zywnosciowej brokerage house.
Said Kristin Nicholson, research manager at Wood & Co. Securities: "I would imagine that most international investors have access to Reuters and Bloomberg (business news)."
But Sadowski of BOC says that already Polish speakers in the United States and Canada are showing great interest in the product. The service will come out in English in about two weeks, he said.
Investors can hook into the system if they already have access to Internet. Those not on the Internet can access the system through a special software package free of charge from BOC or its Internet provider Polbox. Customers can then hook up to the system with a modem. The whole service is currently free of charge. BOC and Polbox declined to disclose details of their contract.
Sadowski plans to allow investors to place orders through the Internet.
It's much easier for the investors, Sadowski said. They can place orders from anywhere and at any time.
That's something that has played to the advantage of U.S. brokerage houses. Brokerage houses in the United States have used Internet for 1-2 years, said Wojciech Plutecki, vice president of Internet Securities. Brokers can use Internet to expand market share and encourage round-the-clock trading, he added.
"Internet is a way to help investment," Plutecki said.
Tomasz Kempinski, president of Polbox, is hoping that the service will expand his client base.
"I hope they will also buy other services," Kempinski said. "The stock market means business."
Some analysts downplayed the significance of the new brokerage house Internet service, citing competition from on-line traditional financial news sources and Internet limited outreach.
"There are not many investors who have access to Internet," said Rafal Lis, analyst at Bank Gospodarki Zywnosciowej brokerage house.
Said Kristin Nicholson, research manager at Wood & Co. Securities: "I would imagine that most international investors have access to Reuters and Bloomberg (business news)."
But Sadowski of BOC says that already Polish speakers in the United States and Canada are showing great interest in the product. The service will come out in English in about two weeks, he said.
Investors can hook into the system if they already have access to Internet. Those not on the Internet can access the system through a special software package free of charge from BOC or its Internet provider Polbox. Customers can then hook up to the system with a modem. The whole service is currently free of charge. BOC and Polbox declined to disclose details of their contract.
Sadowski plans to allow investors to place orders through the Internet.
It's much easier for the investors, Sadowski said. They can place orders from anywhere and at any time.
That's something that has played to the advantage of U.S. brokerage houses. Brokerage houses in the United States have used Internet for 1-2 years, said Wojciech Plutecki, vice president of Internet Securities. Brokers can use Internet to expand market share and encourage round-the-clock trading, he added.
"Internet is a way to help investment," Plutecki said.
Tomasz Kempinski, president of Polbox, is hoping that the service will expand his client base.
"I hope they will also buy other services," Kempinski said. "The stock market means business."
