Global Capital Partners, Inc. (Nasdaq: GCAP) gained 1 15/32 to close at 7 19/32 Friday. The Syosset, New York-based financial services company said its online trading division, Sutton Online LLC, will offer services to European clients.
Sutton Online Europe will be based in Germany and will handle trades in U.S. and European subsidiaries, Global Capital said. Sutton Online President Gregory C. Frank said the company sees a “ground-floor opportunity” to capture a share of the growing market for online trading in Europe.
Forrester Research projects the number of online accounts to rise to 14 million by 2004, up from 1.3 million currently.