NEW YORK, May 18, 2000 (PRIMEZONE) -- WAMEX Holdings, Inc. (OTCBB:WAMX), an Internet and technology company dedicated to creating and dominating an efficient alternative market and exchange for individual and institutional investors, is pleased to announce that they have entered into a partnership with Abovetrade.com. IBChannel.com, the premier business and finance portal, acted as an agency in this transaction. Wamex Holdings, Inc., anticipates that this alliance will further expand their presence in the online investor community.
Based in Silicon Valley, AboveTrade's CrossAnalytics(tm) Technology was developed at Stanford University in the early 1990s. Since 1994, the system, which currently works on over a dozen international exchanges, has been in use as a multimillion-dollar portfolio-management tool for private clients. AboveTrade was founded in 1999 to bring this technology to the Internet as a free tool for investors.
AbovetTrade designs and operates web-based investment decision evaluation and support platforms. Their virtual analysts help members of the site make better investment decisions through stock-specific trade recommendations based on proprietary algorithm-based stock and market analyses. These same investors will now be able to enjoy the Alternative Trading System that Wamex will launch on July 4, 2000. This revolutionary trading system provides investors 24/7 access to trade all registered securities at low cost with anonymity across borders, in any major currency, in different languages, and with a link to trade all major exchanges.
About Wamex Holdings, Inc.
The Wamex Alternative Trading System (ATS), empowers investors to consummate transactions more efficiently and at a lower cost. The WAMEX ATS provides alternative pools of liquidity for its members and enables them to trade directly with each other. This dynamic creates the possibility of price enhancement that is not available to investors within the current market structure. The ATS will allow investors to trade amongst themselves; therefore eliminating the losses associated with proprietary trading so commonly employed against individual investors. This trading system is bound to become the major alternative to trading securities on traditional markets and exchanges.
About Abovetrade.com
For nearly 20 years Chan Chiu, Founder and CEO, has been designing and implementing custom software solutions and financial modeling systems. He began developing AboveTrade's underlying technology in the early 1990s and used it to manage a multimillion-dollar, private-client portfolio on 15 international exchanges, including United States, United Kingdom, Japan, Hong Kong, Germany, France, Taiwan, Australia, Canada, Spain, Italy, Netherlands, Switzerland, Mexico, and Malaysia. In 1999, he re-engineered the technology to form the foundation of AboveTrade's powerful stock-analysis and statistical-modeling website.
Prior to founding AboveTrade, Chan served as the U.S. development manager for Sina.com (Nasdaq:SINA), the world's most trafficked Chinese-language website, receiving 16 million daily page views. He also oversaw the engineering-integration efforts associated with Sina.com's major merger with SRS in Beijing. Before Sina.com, he co-founded Pictra, one of the first companies to create an e-photo commerce web application. Pictra was sold to Fuji Films in 1997 and is now Fuji's European e-photo presence. In the early 90s, Chan was part of the startup management team at Electronics for Imaging (NASDAQ:EFII). He earned his Bachelor's degree at University of Illinois in computer science. He graduated with Master's in computer science from Stanford under current Stanford President, John Hennessy.
Mark Moeller - Co-Founder and V.P. of Business
Mark has spent the past three years immersed in Internet product management, marketing and strategic development. He joins AboveTrade from ClickAction (Nasdaq:CLAC) formerly MySoftware), where as director of business development responsible for Internet partnerships, he closed a series of major deals with companies like Netscape (NYSE:AOL), Intuit (Nasdaq:INTU), ZDNet (NYSE:ZD), Apple (Nasdaq:APPL), Pitney Bowes (NYSE:PBI), Concentric (Nasdaq:CNCX), and DigitalWork (Nasdaq:DWRK). He directed partnerships, drove Internet initiatives and was part of the senior management team helping ClickAction post 469% stock return in 1998, the seventh-highest percent gain on NASDAQ for the year. Prior to entering the online arena, Mark worked as a product manager at Sega of America in Redwood City and an advertising account executive at Leo Burnett in Chicago. He earned his Bachelor's from Dartmouth College.
Dr. Song-Min Wang, Director of Site Operation & Knowledge Engineering
Song-Min designed, developed and built the complex back-end system for the AboveTrade website. He did the same for Sina.com, where as senior system designer, he oversaw the design and implementation of over 60 web/database servers in less than 12 months to support Sina.com's 16 million daily page views. Prior to Sina.com, Song-Min worked for several years as an independent consultant, which included the design and operation of an ISP portal with daily traffic of over 1 million page views. Before this, he spent nearly a decade developing neural network applications, engineering simulation and computer-aided testing systems. Song-Min earned his Ph.D. in engineering from U.C. Davis.
Prasad Kongara - V.P. of Product Development
Prasad has been architecting and implementing cutting-edge, commercial-grade websites and database applications since the beginning of the Internet boom. Prior to AboveTrade, he worked with Chan at Pictra, where he was instrumental in turning the company into a leading online consumer site for photography. Prasad built Pictra's e-commerce capability and went on to become the vice president of product development when Pictra was acquired by Fuji (Nasdaq:FUJIY). Before this, he founded iPaJe Software, an online commerce site that enabled PC manufacturers to promote and sell merchandise on the Internet. He received a Bachelor's degree in electrical engineering from S.V. University College of Engineering in Tirupati, India, and earned his Master's in computer science from Oregon State University.
Lead Advisors
Dale Fuller - President & CEO, Inprise/Borland
Dale joined Inprise/Borland (Nasdaq:INPR) with more than 20 years of experience in general management, marketing and business development in the technology industry. Prior to Inprise/Borland, he was with WhoWhere Inc., one of the leading community sites on the Internet, as President and CEO. At WhoWhere, Mr. Fuller led the expansion of numerous domain sites, including Angelfire.com, the fastest growing Internet site of 1998, and MailCity.com, a free email site. He also increased the company's consumer reach 15 percent to become a leading online guide for people and business information around the world. Previously, Mr. Fuller held Vice President and General Manager positions at Apple Computer and NEC Technologies, Inc.
Gregory Slayton CEO, ClickAction
Known throughout Silicon Valley as a leading turnaround expert, Gregory joined ClickAction (formerly MySoftware) in 1997 and directed a complete overhaul of the company's strategy, structure, staff and systems. The result was five-consecutive record quarters and market leadership position in the exploding e-marketing industry. With Gregory at the helm, ClickAction's stock has soared over 700%. Prior, he was president and director of ParaGraph International, a 100-person Internet software leader that he sold to Silicon Graphics (NYSE:SGI) in 1997. Gregory received his Bachelor's from Dartmouth and MBA from Harvard.
Ashmeet Sidana - Former CEO and Founder, DocLinx.com
Using his previous successful startup experience, Ashmeet provides strategic advice to early stage technology companies. In addition to AboveTrade.com, he serves on the Advisory Boards of BuyerMatch.com and Kendara.com, funded by IVP and Mohr Davidow. He was founder and CEO of DocLinx.com (formerly Sidana Systems, Inc) that he sold in early '99. Ashmeet has a Bachelor's from the University Southern California Master's from Stanford University, after which he was a key member of the Hewlett Packard LaserROM and Silicon Graphics WebFORCE teams.
Jon Gavenman - Director, Venture Law Group
Jon represents a wide range of companies, from start-ups to large publics corporations. His emphasis is on securities and merger-and-acquisition transactions in the software, semiconductor, telecommunications and Internet-related industries. Jon has represented both issuers and underwriters in numerous IPOs and has substantial experience with all levels of buyer and seller-side transactions. His clients have included Aspect Telecommunications, Brio (Nasdaq:BRIO), CoATS Software, Cirrus Logic (Nasdaq:CRUS), Lam Research (Nasdaq:LRCX), Meta Software, Omniview Design, Spinner Networks, Unison Software and WebTV (Nasdasq:MSFT). Jon joined VLG after several years at Wilson Sonsini Goodrich & Rosati. He received his bachelor's from Pomona College in mathematical economics and his law degree from Hastings.
About IBChannel.com
IBC (www.ibchannel.com) is the premier business and finance portal. Interactive Business Channel Inc. develops and invests in new technology companies and incubators. IBC provides a full range of resources to infuse emerging growth companies with the development strategies and financial support needed to rapidly introduce innovative products and services. Resources include HR, network infrastructure, consulting and services relating to development and technology, web development, graphic design, advertising, marketing, competitive research, legal, accounting and business development support and services.