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New Zealand Stock Exchange Pioneers World-Leading Use of Wireless Technology
Posted: 20-Mar-2000 [Source: Business Wire]

[WAP based stock trading went on-line today in New Zealand. The first live trade was made with an Ericsson R320 phone.]

Auckland, New Zealand -- "The New Zealand Stock Exchange (NZSE) today hosted the first direct, market access trades using wireless application protocol (WAP) to be initiated on the securities market in the Asia Pacific region. The trades were part of a global demonstration of a wireless securities trading capability developed by Computershare, Hewlett-Packard Company, the NZSE and TANTAU Software.

"NZSE Deputy Chairman Simon Allen made the first live WAP trade on the New Zealand stock market from an Ericsson R320s mobile WAP phone.

"The NZSE WAP application will allow clients to trade and transfer securities directly, without passing through a broker. According to NZSE Managing Director Bill Foster, brokers will still need to register their clients for wireless trades and set limits for the transactions. Once clients are registered, however, they can trade without broker assistance. Clients will connect to the NZSE WAP server through their ISPs using their WAP phones to make a trade -- often with same-day settlement.


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