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MidasTrade Signs Bridge Securities.

Business Editors

SEOUL, Korea & BUENA PARK, Calif.--(BUSINESS WIRE)--Aug. 6, 2002

Midas Securities, LLC (member NASD and SIPC), a wholly owned subsidiary of, Inc. (OTC: MIDS) announces today the signing of a memorandum of understanding with Bridge Securities Co., Ltd. of Seoul, Korea to provide the securities firm with direct access trading of U.S. securities. Bridge Securities is the second Korean securities firm to offer the Midas Global Direct Access Network to their clients, allowing Korean investors to trade U.S. securities online, in real-time.

Midas Securities has recently developed the architecture of Quote and Order servers to implement the interface with Korean securities firms' existing trading platforms. This revolutionary development will allow Korean securities firms to use their existing online trading platforms and systems to interface with the Midas Global Direct Access Network to trade North America stocks.

According to Mr. Jay S. Lee, President and CEO of Midas Securities, "This development allows Korean securities companies to access U.S. securities exchanges and ECNs, directly through their existing systems via the Midas Global Direct Access Network. Midas Securities will be able to sign up new clients more rapidly than we originally anticipated and get their customers trading faster."

Midas Securities has already begun work with Bridge Securities to implement interface of the Midas Global Direct Access Network into Bridge Securities' existing system with the newly developed architecture of Quote and Order servers. The company estimates that Bridge Securities' clients trading of U.S. securities will commence by early September.

Midas Securities is the first company to provide a direct link between Korean investors and the U.S. securities markets and dramatically reduces both the costs and time associated with trading foreign securities. With the Midas Global Direct Access Network, investors will access U.S. securities quotes and data in real-time from their computer, obtained directly from a data center in Seoul, Korea and receive direct execution of U.S. securities transactions through their online trading account.

Bridge Securities President, Peter Everington commented on the agreement, "Demand for access to the U.S. securities market is high and we recognize that offering this to our clients is becoming a necessary component of our business. The Midas Global Direct Access Network provides us with the infrastructure to offer these services to our customers."

Midas Securities, President and CEO, Jay Lee stated, "We are pleased to join with Bridge Securities to develop their U.S. online trading platform. Bridge Securities has a large customer base and we anticipate a high volume of trades to be executed through the system, once it is launched."

Korea is the global leader in online trading. As of April 2002, the total number of online securities accounts in Korea was over 4.9 million, which is 55.4 percent of the 8.9 million securities accounts in Korea. More than 50% of all trades in Korea are executed online and the average number of orders per online account in Korea was 13.54 trades per month. In comparison, there are approximately 19 million online accounts in the U.S. with an average of less than one trade per account per month.

About Bridge Securities Co., Ltd.

Bridge Securities is one of the leading Korea securities brokerage firms with 36 branches throughout Korea. The company generated a total volume of 22.7 trillion won (US$189 billion) in the brokerage of stocks with 81.1 billion won (US$67.6 million) in commission revenue and the company's total revenue was 239.1 billion won (US$199.2 million), during the fiscal year ending March 2002. With the company's new state of art trading platform, Bridge customers are able to trade stocks, options and futures of Korea securities markets. Bridge will now be powered with ability to trade U.S. securities. Additional information is available at About, Inc.

MidasTrade is a U.S. based company committed to the deployment of a direct access trading platform that allows international investors to trade U.S. securities in real time through their online trading account. The Midas Global Direct Access Network is designed to provide international investors immediate execution and confirmation of their U.S. securities trade with minimal surcharges and commissions. Additional information is available at

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. 6280 Manchester Boulevard, Suite 145, Buena Park, CA 90621
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Publication:Business Wire
Date:Aug 6, 2002
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