RealTime IT News

Sutton Online to Provide Online Trading Services in Europe

[May 12] Global Capital Partners Inc. announced Friday that its online trading division Sutton Online LLC has formed a European subsidiary to be based in Germany.

Sutton Online Europe will provide online trading services to European clients, using Sutton's professional-level online trading platform and order-routing service. Users will be able to trade in both U.S. and European securities.

Gregory C. Frank, president of Sutton Online, predicted a bright future and said Global Capital Partners had already established many customer relationships in Europe. He quoted figures from Forrester Research indicating that the number of online trading accounts held by investors in Europe will increase from 1.3 million today, to some 14 million by 2004.

"In addition to expanding our domestic online product, we expect Sutton Online Europe to capitalize on this ground-floor opportunity to participate in the explosive growth potential of online trading in European markets," said Frank.

Majority owned by Global Capital Partners, Sutton Online offers a wide range of Internet-based trading facilities, including level II software and data. It also provides training for both individual and corporate online investors.

Global Capital Partners has substantial interests in Europe, holding a majority interest in Global Capital Partners Bank, which is an Austrian bank and brokerage company, as well as Unitrust Holding, a Swiss-based financial services company.

Also from Global Capital Partners comes the MoneyZone.com portal, designed to match investors with entrepreneurs. MoneyZone.com is traded separately over-the-counter under the symbol MNZN.