eSpeed Inc. Exceeds Annual Product Rollout Targets; Marketplace leader set to expand into new markets in 2001
TUESDAY, JANUARY 09, 2001 8:05 AM
NEW YORK, Jan 9, 2001 (BUSINESS WIRE) -- eSpeed, Inc. (NASDAQ: ESPD), a leading interactive electronic marketplace engine for business-to-business (B2B) e-commerce, today announced that the company exceeded its
product rollout targets for 2000. eSpeed currently has 43 products actively trading on the eSpeed(SM) system, surpassing the company's goal to trade 40 products by year end. At the time of eSpeed's initial public offering, in
December 1999, only six products traded on its system.
In September of 2000, eSpeed successfully launched TradeSpark - a comprehensive, neutral energy marketplace - and plans to launch similar marketplaces for other vertical markets in 2001. Also, in the year 2000, eSpeed signed deals with 13 Online Brokers to use the eSpeed Online(SM) system to give their customers the ability to electronically trade bonds. These brokers include Charles Schwab & Co., Inc. (NYSE: SCH), A.B. Watley (NASDAQ: ABWG), Muriel Siebert & Co. (NASDAQ:SIEB), and Web Street Securities.
Commenting on today's announcement, Frederick T. Varacchi, eSpeed President and COO, said "We now provide the financial markets with a very comprehensive array of products. While we will continue to focus on enhancing these existing products, we are dedicated to rolling out new ones and expanding into new vertical markets."
eSpeed currently has the following products on its electronic platform:
Canadian- Government Canadian- Provincials Canadian- Repos Corporate Bonds- Globals- Finance & Bank Corporate Bonds- Utilities/ Telephones Corporate Bonds- Industrials Corporate Bonds- Medium Term Notes Corporate Bonds-
Intermediates Corporate Bonds- Yankees Emerging Markets- Brady's Emerging Markets- Eastern European Emerging Markets- EM Repo Emerging Markets- Eurobonds Emerging Markets- Mexico Emerging Markets- South Africa Gilts
Environmental Brokerage- (NOx, SOx) European Government Bonds Euro Bonds- European Government Bond Basis Euro Bonds- Euro Sterling Euro Bonds- Dollar Euro Bonds- FRN Euro Repo- Euro Euro Repo- Gilts Pfandbrieffe FX
Options, Forwards Gilts Interest Rate Derivatives- Euro IRO Interest Rate Derivatives- Euro IRS Interest Rate Derivatives- US IRO Interest Rate Derivatives- US IRS Japanese Government Bonds Japanese Government Bonds-
JGB Repo Mortgage Backed Securities Municipal Bonds Power (Electricity and Natural Gas) US Agencies US Governments- (Spreads, Benchmarks) US Governments-Off the run US Government Repos US Treasury Options
eSpeed Online(SM) Cantor Exchange Cantor Index
Also notable for the year, eSpeed earned an impressive sixth place position in the semi-annual Net Market Makers survey- "The Ground Zero", which ranks the 25 largest independent online market makers. The survey was conducted
by Jupiter Media Matrix, a new economy market intelligence firm. Rankings were based on third-quarter 2000 revenues.