RealTime IT News

PlanetEuro Prepares for E-Day Invasion

ROME -- PlanetEuro, the Euro-based, electronic trading platform that operates under the theme, "a single currency, a single market and a single platform," has positioned itself to become a leading player in the E750 billion pan-European trade marketplace, according to industry leaders.

"The European Union and the European Central Bank is referring to January 1st, 2002, as 'E-Day,' much like the famed invasion of Allied Forces into Europe on D-Day," explained Thomas Bonetti, CEO and founder of PlanetEuro. "From one day to the next, businesses, banks, and financial institutions will find themselves dealing with a single currency. The need for a platform for conducting seamless and efficient transactions throughout Europe and beyond will soon be a necessity. PlanetEuro, with an initial 2 million Euro of private funding, is positioned to provide such immediate cross-border trade of goods and services."

Supporting Bonettis position are such industry watchdogs as Forrester Research, which says: "European electronic cross-border trade will lead all global regions, with E750 billion by the year 2004." Jupiter also notes that, "the combination of new technology, the Euro and related price transparency, will lead to an explosion in electronic cross-border trade."

The Economic Union of Europe and the full conversion to a single currency, represents an opportunity of historical proportion not seen since the age of the Roman Empire, or the Kingdom of Charlemagne. Wim Duisenberg, President of the European Central Bank, insures that "On January 1st 2002, the Euro will become a physical reality across Europe, when the new banknotes are introduced."

Just the same, conversion to the Euro is a fact that European populations,in general, are not giving serious consideration. Much like the Y2K scare, many are taking a "wait until it happens" approach. That, according to Bonetti, gives PlanetEuro a competitive advantage.

"Historically, Pan-European cross-border trade has been very fragmented, full of intermediaries, inefficient and un-necessarily costly. Imagine the additional confusion and costs when millions of Europeans and thousands of un-prepared businesses from 12 countries are required to exchange their old national currencies and conduct business, solely in the new Euro."

PlanetEuros System relieves this age-old pain by providing a single-point-of-access to the entire European market, directly from the desktop. Similar to the new Nasdaq-Europe, which trades Securities on a Pan-European basis, PlanetEuro empowers European businesses to trade seamlessly across Europe, exploit Euro-price differentials, reduce intermediary costs, improve value-chain management, reach new markets and gain competitive advantage.

"This model," Bonetti explained, "is increasingly seen as one of the strongest on Wall Street. Our early-mover solution adds real value to small and medium enterprises trading in specific industries, which represent the largest and most accessible market segments."

Based in Monte Carlo, and backed by such partners as Monaco Telecom, Microsoft, Cisco, Compaq, and Ernst & Young, PlanetEuro has just begun its second round of financing (E3 Million) and is scheduled for a full business rollout in coordination with the European Union's Euro conversion timetable, E-Day.