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GlobalNetFinancial.com, Nordnet Ink Marketing Deal

[London, ENGLAND] Financial portal operator GlobalNetFinancial.com Monday disclosed a cross-marketing agreement with Scandinavian online brokerage firm Nordnet AB.

The deal will enable customers of GlobalNet's Norge-iNvest service to trade securities using the Nordnet trading platform. It will also expand GlobalNet's market for streamed real-time information products and bring additional revenues to the portal operator.

Lasting five years, the agreement covers Norway, Sweden and Denmark and will give Nordnet's customers access to GlobalNet's proprietary news and its bulletin board service StockTalk. In return, GlobalNet is set to receive 50 percent of the revenues derived from use of The Online Trader, an application developed by Infront AS that will also be available to Nordnet users.

Morten Petersen, general manager of SOL Bors AS, the subsidiary that operates Norge-iNvest, explained that the deal would enable customers to buy and sell securities, mutual funds and other financial products online. It was, he said, the first time a deal like this has been made between dominant players in the Nordic region.

"This is exactly the kind of consolidation we will see in the months to come in our industry, with strong partners forming strategic alliances complementing each other's product offerings," said Petersen.

"The demand for financial information and trading over the Internet will increase, and we are positioned together with NordNet to capture a large part of that growth in our region," Petersen added.

Established in August 1996, Nordnet is a subsidiary of E Ohman Junior AB and was one of the first online brokerage firms in Scandinavia. Its customers make around 6,000 trades per day, clocking up around SEK 500 million (US $55.6 million) in traded financial products every day.

At one time best-known for operating the UK-iNvest.com portal for Freeserve in the U.K., GlobalNetFinancial now operates several Money & Finance content Web sites acrose Europe. They include Italia-iNvest.com, Neder-iNvest.com, Danmark-iNvest.com, France-iNvest.com, Norge-iNvest.com, Solbors.no, Espana-iNvest.com, Deutscherfinanzmarkt.com, Ibero-iNvest.com, and Sverige-Finans.com.