Billam PLC
12 September 2000
Billam Plc
The directors of Billam plc ('Billam') are pleased to announce that it has
agreed to invest US$759,000 for 1,100,000 shares at US$69c per share in
TigerEx.Net Limited ('TigerEx').
TigerEx, which is incorporated in Bermuda, was founded in March 2000 by two
former senior officers of the Tradepoint Stock Exchange, Paul Barnes and
Michael Waller-Bridge. (Tradepoint is listed on the Alternative Investment
Market of the London Stock Exchange). TigerEx is organized to become the
principal service company to a series of associated joint venture companies
planned around the world that bring together stock exchanges, institutional
banking houses and broker-dealers in an internet-based order routing conduit.
Initially the proposed service will operate in the Pacific/Oceania Region and
is designed to allow online investors of one country to trade, clear and
settle in any major market including their home market through one
consolidated account with their local broker.
There are several components to the TigerEx business model that strongly
complement one another. TigerEx is creating a secure and robust Internet-
based network that will:
1. Facilitate an order routing service across the major Pacific Rim
financial markets;
2. Extend the reach of those markets;
3. Feed transactions to them; and
4. Provide an e-Commerce platform for local brokers and investors.
It should appeal to sophisticated investors seeking diversification from their
local market and/or a broader range of opportunities. Pricing, settlements,
and accounts could be in the customer's currency of choice.
TigerEx can enable partners to create new financial products, while offering
institutional partners a reliable, low cost, liquid cross-border trading
platform in association with participating Stock Exchanges. By extending the
reach of participating markets and aggregating transactions TigerEx aims to
add liquidity and reduce total trading costs.
TigerEx has secured a non-exclusive agreement with the Australian Stock
Exchange, under this agreement and subject to fulfillment of various
conditions the Australian Stock exchange will take an equity stake in TigerEx
Australia. TigerEx is in discussions of the same nature with other Stock
Exchanges in the Pacific region. It has negotiated technology arrangements
with key suppliers and is developing with appropriate banking partners the
provision of both execution and foreign exchange services.
TigerEx.Net plans to commence service operations in the first quarter of 2001.
Contact - Peter Hoskins, Billam Plc, 0207 7251 9111
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