[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.
