A large and active market exists today in which over 200 registered companies that are not listed on the Johannesburg Stock Exchange actively offer shares to the public. PrivateShares will also provide relevant investment information such as corporate backgrounds, audited financials and news to help participants make investment decisions. The service is scheduled to be launched in the fourth quarter of 2000.
Brokers also gain access to new business opportunities which complement their value-added services.
PrivateShares has contracted with OptiMark, Inc. to customise its patented exchange technology that optimises trading between buyers and sellers in an anonymous and confidential environment. PrivateShares provides an online service that enables companies to match buyers and sellers of their stock and facilitates trading amongst individual investors, institutional investors, and brokers in a secure, automated environment. PrivateShares is headquartered in Johannesburg, South Africa. OptiMark, Inc., a privately held company, is a leading provider of exchange solutions to electronic marketplaces and communities globally. OptiMark's broad range of solutions include the simplest browse or auction markets to the most sophisticated exchanges where multiple buyers and sellers trade and negotiate for goods and services, and value is determined by more than price and quantity alone.