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Australian domain name registrar Internet Names WorldWide (INWW) is to launch the world's first high-speed bulk registration service to cater for customers wanting to establish large numbers of domain names.

The service, called bulknames.com, will offer discounts and reduced turnaround times for customers wanting to register 300 or more domain names.

INWW, a division of recently-floated online services and consulting company Melbourne IT, will charge on a sliding scale that starts at around $AUS36 ($US24) each for orders of 300 domain names.

The service boasts the ability to register 1000 domain names per hour, and process orders of more than 1000 names simultaneously. This will undercut the time it takes to register that number of domain names individually by more than 24 hours.

INWW has developed bulknames.com in anticipation of increased demand for domain names, following new rules and regulations established by the Internet Corporation for Assigned Names and Numbers (ICANN).

These moves include the creation of a more competitive market, which is set to reduce registration costs by up to 50 per cent. Registrants will also be able to secure '.com', '.org' and '.net' domain names for between one and 10 years.

Currently INWW's services allow domain names of up to 63 characters to be registered, and expanded services will include domain names in '.uk' (United Kingdom), '.fr' (France), '.es' (Spain) and '.jp' (Japan).

"INWW has registered tens of thousands of names using our bulk registration system," said Clive Flory, INWW managing director. "INWW has created the necessary technology to meet this demand."

The registrar is hoping bulknames.com's main drawcard will be its speed of registration, which will be critical during the domain name rush it expects in the wake of ICANN's new regulations.

To help promote the service Melbourne IT formed a strategic partnership with U.S. Web site hosting company Verio, Inc. to provide its domain name registration services to Verio's subscriber base of more than 525,000 domain name holders.

As part of this agreement Verio has acquired 4.9 per cent of Melbourne IT's issued capital from its December 13 listing on the Australian Stock Exchange.

"The relationship between our companies has been built over some time," said Flory. "The key factors which led Verio to Internet Names WorldWide are our knowledge of the domain name registration industry, our robust technology and the fact that we are setting up an on-ground presence in the U.S."