Last Major Specialist Financial Bookshop in Europe's Financial Capital Rescued from Closure
Last remaining specialist Financial Bookshop in the City of London rescued from closure by erivatives.com. Shop is only remaining specialist financial markets bookshop in the Western World. New Events and Meetings Space Launched within shop complex at 90 Bishopsgate. Survival Plan is based around becoming a key “Exchange of Information” in the City of London. Key financial institutions and individuals already backing survival plan with sponsorship and private placing investment
London, England (PRWEB) July 6, 2005 -- The last remaining specialist
financial bookshop in the City of London has been rescued.
The Financial
World Bookshop, formerly owned by the Institute of Financial Services had been
earmarked for closure due to internal rationalisation within the
IFS.
Patrick L Young, sometime derivatives trader and owner of the online
publishing company erivatives.com has acquired the bookshop with the intention
of securing its future.
“It strikes me that in an era where financial
education is more essential than ever, having a major financial centre without a
specialist bookshop is ludicrous,” comments Young, himself the author of several
books such as the bestselling “Capital Market Revolution” which charted the
future of electronic markets.
“Given the pricing and relative difficulty
in securing supply of specialist financial titles, we find that competition from
the internet has not impacted on our market significantly. With cover prices
frequently in excess of 50 Pounds for specialist financial titles, our customers
tend to want to browse before committing to purchase. Nevertheless, operating
premises within the City of London is a very expensive business!”
The
bookshop from today will be renamed “The Financial Bookshop” – a name change to
reflect the unique status of the shop. The website has also been relaunched
at:
http://www.thefinancialbookshop.com.
The physical
bookshop occupies 1000 square feet of prime retail space manned by an
experienced specialist staff team in a central City of London location at 90
Bishopsgate, located on the busy junction of Bishopsgate, Camomile Street and
London Wall, near Liverpool Street station.
The bookshop has already
garnered considerable support from key financial institutions although more
investment and sponsorship is being raised to ensure the shop’s future. Key
sponsors to date include EUREX, the International Petroleum Exchange (IPE), the
International Securities Exchanges (ISE) and LCH.Clearnet.
The Financial
Bookshop expects to announce more sponsors in due course while the company is
also raising some more capital through a private placement.
“We are
delighted that leading businesses in the world’s traded markets such as EUREX,
IPE, ISE and LCH.Clearnet have recognised the importance of the exchange of
information and education for traders throughout the world,” Young notes.
Sponsors have the right to distribute material through the bookshop,
making it easier for them to spread key corporate information.
Patrick
Young: “We see this business as not merely a bookshop but thanks to the meeting
space and our other facilities, it is already becoming a genuine exchange, in
this case “the exchange of information” that most intangible but most valuable
commodity in all financial markets.”
For further information please
contact:
Patrick L Young
Chairman
The Financial Bookshop
90
Bishopsgate
London
EC2N 4DQ
020 7929 7794
Email: e-mail protected
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Source : http://www.prweb.com/releases/2005/7/prweb258095.htm