Commentary

John Turney
Traders Magazine Online News

Foreign Exchange Infrastructure: Yesterday, Today and Tomorrow

In this exclusive to Traders Magazine, John Turney, Global Head of Outsourced FX at Northern Trust, discusses the evolution of the fx infrastructure and what is to come.

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April 30, 1998

Nasdaq Eyes Opportunity in Germany

By Staff Reports

German consumers are next in a campaign to stimulate awareness of Nasdaq among European investors.

Most recently, Nasdaq concluded a $10 million television advertising campaign in London aimed at encouraging British investors to snap up shares of Nasdaq-listed stocks.

More television advertising in London is planned. As part of the same effort, Nasdaq is launching a web site that has been custom-designed for the British investor.

The site will provide Nasdaq share prices, as well as share prices from other major U.S. exchanges, delayed 20 minutes, London Stock Exchange share prices delayed 20 minutes and business and equity-market news.

Nasdaq said France and Switzerland will be targeted later, but first it will develop a strategy for the German market. At press time, Nasdaq did not release full details.

Some equity-trading pros, however, think Nasdaq's attempts to penetrate the European mainland market will be tougher than attempts in the U.K. Mainland Europeans do not have a mature equity culture. Only six percent of Germans are estimated to own shares, directly or indirectly, through mutual funds, compared with 25 percent of British investors and 43 percent of their Americans cousins.

Nasdaq is undeterred, however. John Wall, president of Nasdaq International, said investor interest in Nasdaq "increased very significantly" since the television campaign in London was launched.