of market data distribution technology and terminal solutions, has
received the final retroactive payment of a development loan for its
MarketXSPro(tm) for Windows(r) terminal application from the Ministry of
Economic Affairs in The Netherlands through Senter, the government agency
responsible for the execution of subsidy, loan and fiscal schemes in the
field of technology, energy, environment, exports and international
MarketXS was granted the development loan totaling EUR 800,000 early 2000
under the former KREDO facility to develop integrated market data
services using electronic highways in the Netherlands.
By granting development loans under the KREDO facility The Ministry of
Economic Affairs in The Netherlands aimed at increasing the introduction
of new, commercially viable, electronic services in order to stimulate
the establishment of electronic highways in The Netherlands.
To assess to which extent a project contributes to the establishment of
electronic highways in The Netherlands, its market potential and
innovative nature were considered as well as the extent to which it would
serve as an example.
The development project resulted in the professional terminal application
MarketXSPro for Windows.
'MarketXS started with 6 staff in 1999 and currently employs over 40
staff in the Netherlands, including 30 software engineers. We are already
reaping the benefits of the government-aided development of the
MarketXSPro terminal; since its introduction in the second quarter of
this year it has already been put into use at over 15 well-known
financial institutions in the Netherlands including Amstgeld n.v.
Effectenbank, Insinger de Beaufort, Nyenburgh Commissionairs in Effecten,
Pro Asset Management, Schretlen & Co, SNS Securities and van der Hoop
Effektenbank', says Floris Alkemade, chief executive officer of MarketXS.