Internet-based investor service completes trials; adds mutual funds to investment offerings.CHICAGO--(BUSINESS WIRE)--Jan. 17, 1995--The first fully integrated investment and portfolio management system on the Internet has successfully completed ``beta'' testing with early users, while adding real-time quotes and mutual fund transactions to the array of services offered on-line through the World Wide Web. The Net Investor, which was premiered to computer users worldwide on Dec. 21, allows investors who wish to manage their own investments to access on-line brokerage services, research and portfolio accounting, rivalling those of an investment professional. ``The real-time integration of brokerage activity with portfolio analysis capabilities is a totally new opportunity for investors,'' said Richard S. Griffin, senior vice president of The Net Investor. The Net Investor is a division of Howe Barnes Investments, Inc., a Chicago-based, full-service regional investment firm founded in 1915 and a member of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . BASED ON PROVEN SYSTEM The service operates on a system developed by PAWWS (Portfolio Accounting World-Wide), a division of Security APL. Founded in 1978, Security APL is the only full-service provider of fully integrated portfolio management, performance measurement, trading and reporting systems for professional investment managers. An investor can open an account with The Net Investor directly through the World Wide Web at http://pawws.secapl.com. To speed the setup process, users can print the required account agreements on their own computer printers. Upon account approval, the individual may enter buy and sell orders directly through the Internet for stocks traded on major U.S. exchanges and NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on and for load and no-load mutual funds. MORE INVESTMENT OPTIONS ``Today marks our first extension of investment opportunities beyond stocks, to a large number of selected U.S. mutual funds,'' Griffin said. ``Also, in order to be sure that stock dividend payments and other returns are reinvested immediately, an investor can direct that any such funds be swept into an interest-earning money market account on a daily basis. ``By the end of the first quarter, we also plan to add corporate and treasury bonds and margin accounts to the range of investment options,'' Griffin said. USER-FRIENDLY, FLEXIBLE SYSTEM The Net Investor is designed to appeal to both first-time and experienced indiv0dual investors who want to readily perform their own computerized investment research and make their own investment decisions. A full array of services is being provided at low cost, with users paying only for the services they need. In conjunction with the PAWWS system, services offered include: - Real-time access to stock market quotes. - State-of-the art investment portfolio accounting and allocation. Users can quickly call up and print up-to-the minute information on their investments in clear and concise format. - Research, sophisticated market analysis and planning tools. - Late-breaking business news and financial information. The privacy and security of clients' information is maintained using encrypted data transmission protocols available in Netscape Communications Corporation's browser software. Netscape's software with advanced encryption technology is publicly available at no cost on the Internet. EIGHT DECADES OF CLIENT SERVICE In addition to The Net Investor, Howe Barnes Investments provides its clients with such traditional services as its private client group, institutional investor services, research, corporate finance and equipment lease financing activities. Howe Barnes was founded in 1915. In addition to the New York Stock Exchange, Howe Barnes is a member of the Chicago Stock Exchange Chicago Stock Exchange (CHX) A major exchange trading only stocks, with 90% of trades taking place on an automated execution system, called MAX. (CHX See Chicago Stock Exchange. CHX See Chicago Stock Exchange (CHX). ), National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). ), National Futures Association National Futures Association (NFA) The futures industry self-regulatory organization established in 1982. (NFA NFA - Finite State Machine ), Securities Industry Association (SIA), Securities Investor Protection Association (SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. ) and the Municipal Securities Rulemaking Board The Municipal Securities Rulemaking Board, often referred to simply as the MSRB, makes rules regulating broker-dealers and banks that deal in municipal bonds, municipal notes, and other municipal securities in the United States. (MSRB MSRB See Municipal Securities Rulemaking Board (MSRB). ). CONTACT: The Net Investor Richard S. Griffin 800/NET-4250 |
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