Tradepoint Financial Networks Plc Announces Unaudited Results For The Quarter Ended 31 December 1998.

Tradepoint Financial Networks plc ("Tradepoint"), which operates the Tradepoint Stock Exchange, has announced its unaudited results for the quarter ended 31 December 1998. Tradepoint widened its loss in the quarter ended December 31, 1998 posting preliminary losses of 2.0 million pounds in its third quarter against a 1.78 million loss a year ago. Nic Stuchfield, Chief Executive of Tradepoint, commented "We are pleased with the solid growth in order book volumes over the last quarter and although December was a particularly quiet month, we are encouraged by the record trading volumes we are now seeing in January. We continue to focus on developing the business through a number of corporate initiatives, particularly in the US where we are building relationships with a number of early adopters." Tradepoint said in its statement "Trading in the final quarter of the company's financial year appears to indicate that December's low volumes were a one off. Order book trading during January passed our previous best month (September 1998, 129 million pounds) on the 21st, making this clearly the exchange's best trading period to date," Tradepoint added that 16 new members had joined the exchange since the beginning of 1999. Over the nine-month period the company lost 5.64 million pounds against 4.77 million in 1997.