The launching follows three years of incubation and an estimated NIS 20 million loss. The e-commerce venture is controlled by Kardan Technologies (51%).
E-commerce venture E*trade Israel today launched its investment website, designed for Israeli investors wanting to trade in foreign securities. The company is controlled by Kardan Technologies (51%).
E*Trade Israel was established to provide online investment services. “Globes” has estimated the companies losses at over NIS 20 million, since its founding in 1998.
E*Trade Israel operates under a license issued by the international E*Trade group, which owns 20% of the company, and has cooperation agreements with Bank Leumi and The Central Securities Co.
American-based
E*Trade , the world’s second largest e-brokerage, last month reported an operating break-even point and a 21% decline in Q1 2001 sales, meeting analysts' forecasts.
Published by Israel's Business Arena on 8 May 2001