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New Exchange to Drive Secondary Domain Name Market; 'Global Domain Name Exchange' --GDNX-- to Bring Order to Resale Market
MAR DEL PLATA, Argentina--(BUSINESS WIRE)--April 8, 2005--Drawing on the design of stock exchanges that provide secure, trusted and structured markets for buyers and sellers of publicly traded stocks, the new Global Domain Name Exchange (GDNX) has been launched to bring standardized business practices to the secondary domain name marketplace.
The breadth and depth of the GDNX market allows buyers and sellers to realize the best value for the exchange of domain names and to benefit from the lowest transaction costs. GDNX is also designed to preserve and protect existing relationships and contractual protections between registrars and registrants.
"The GDNX is born out of the steadily growing desire over the last few years for a more universal, transparent and competitive market to exchange previously-registered Internet domain names of all types," said Tony Farrow, recently appointed GDNX CEO. "It is clear that the market for previously-registered names has grown so large, so diverse and so important to the health of the industry that it demands an open exchange to bring together the largest-possible number of buyers and sellers, and the largest variety of names and TLDs. The GDNX ensures all domain name registrants and registrars are fully protected by existing trusted relationships and contractual protections, including those required by ICANN."
Farrow was recruited to the new GDNX post by Pool.com, currently the world's leading provider of secondary domain names and whose industry-leading technology will power the GDNX. Farrow brings more than 15 years of extensive leadership experience in the technology sector to the GDNX from across a variety of key disciplines including telecommunications, venture capital and business-to-business software.
The secondary domain name marketplace, valued over $100 million annually, includes domain names that have expired, as well as those that current owners want to sell. Still in its infancy, the market has yet to be standardized, leaving buyers and sellers splintered and subjecting prices to the price vagaries inherent in thin markets.
Controversies have at times accompanied the growth of the secondary domain name market -- reflected in proposals by companies like VeriSign (Nasdaq:VRSN). By serving the resale, expiry and deletion elements of the secondary domain name market in one exchange, the GDNX can offer the most efficient solution with optimized valuations and significantly lower transaction costs.
"The secondary domain name market is large and growing," said Farrow. "And it needs dynamic and effective mechanism to serve its growth. The GDNX provides a clearing house for the industry with simplified, standard practices that benefit all of its participants."
The GDNX operates virtually, with member registrars serving as the public access to the market. Through their registrars, people will now have access to all available domains including valuation estimates and traffic analysis data. They also have the option of three different formats to conduct GDNX transactions: fixed price, auction and bid models. Buyer and sellers will each be assessed a two percent transaction fee for each domain which trades on the exchange.
This industry needs the power and benefits of an open platform and a level playing field," said Farrow. "The GDNX is the next logical step in the evolution of domain name registration, creating a foundation for this market to fully develop in accordance with the standards and practices which have driven the Internet's success to date."
About The Global Domain Name Exchange
The Global Domain Name Exchange (GDNX) is the global marketplace for exchanging active, expired or deleted Internet domain names. Offering a variety of dynamic auction formats, the GDNX provides buyers and sellers with the broadest possible market, the best value and the lowest transaction costs. Membership in the GDNX is open to ICANN-accredited registrars and registries, with public buying and selling in the GDNX enabled through GDNX members. Existing registrar-registrant contracts and relationships provide buyers and sellers with the advantages and protections of existing trusted relationships. The exchange is located at www.gdnx.org
More information about the GDNX is available at www.gdnx.org or by e-mail from [email protected].
The Global Domain Name Exchange (GDNX) is an exchange created for and supporting the valuation and transfer of previously registered or held domain names. Its membership is open to ICANN-accredited registrars and registries. Requests for information about participating in the GDNX can be found at www.gdnx.org, or by e-mail at [email protected]. It was formed on the basis of a grant from Momentous.ca.
:bah:
MAR DEL PLATA, Argentina--(BUSINESS WIRE)--April 8, 2005--Drawing on the design of stock exchanges that provide secure, trusted and structured markets for buyers and sellers of publicly traded stocks, the new Global Domain Name Exchange (GDNX) has been launched to bring standardized business practices to the secondary domain name marketplace.
The breadth and depth of the GDNX market allows buyers and sellers to realize the best value for the exchange of domain names and to benefit from the lowest transaction costs. GDNX is also designed to preserve and protect existing relationships and contractual protections between registrars and registrants.
"The GDNX is born out of the steadily growing desire over the last few years for a more universal, transparent and competitive market to exchange previously-registered Internet domain names of all types," said Tony Farrow, recently appointed GDNX CEO. "It is clear that the market for previously-registered names has grown so large, so diverse and so important to the health of the industry that it demands an open exchange to bring together the largest-possible number of buyers and sellers, and the largest variety of names and TLDs. The GDNX ensures all domain name registrants and registrars are fully protected by existing trusted relationships and contractual protections, including those required by ICANN."
Farrow was recruited to the new GDNX post by Pool.com, currently the world's leading provider of secondary domain names and whose industry-leading technology will power the GDNX. Farrow brings more than 15 years of extensive leadership experience in the technology sector to the GDNX from across a variety of key disciplines including telecommunications, venture capital and business-to-business software.
The secondary domain name marketplace, valued over $100 million annually, includes domain names that have expired, as well as those that current owners want to sell. Still in its infancy, the market has yet to be standardized, leaving buyers and sellers splintered and subjecting prices to the price vagaries inherent in thin markets.
Controversies have at times accompanied the growth of the secondary domain name market -- reflected in proposals by companies like VeriSign (Nasdaq:VRSN). By serving the resale, expiry and deletion elements of the secondary domain name market in one exchange, the GDNX can offer the most efficient solution with optimized valuations and significantly lower transaction costs.
"The secondary domain name market is large and growing," said Farrow. "And it needs dynamic and effective mechanism to serve its growth. The GDNX provides a clearing house for the industry with simplified, standard practices that benefit all of its participants."
The GDNX operates virtually, with member registrars serving as the public access to the market. Through their registrars, people will now have access to all available domains including valuation estimates and traffic analysis data. They also have the option of three different formats to conduct GDNX transactions: fixed price, auction and bid models. Buyer and sellers will each be assessed a two percent transaction fee for each domain which trades on the exchange.
This industry needs the power and benefits of an open platform and a level playing field," said Farrow. "The GDNX is the next logical step in the evolution of domain name registration, creating a foundation for this market to fully develop in accordance with the standards and practices which have driven the Internet's success to date."
About The Global Domain Name Exchange
The Global Domain Name Exchange (GDNX) is the global marketplace for exchanging active, expired or deleted Internet domain names. Offering a variety of dynamic auction formats, the GDNX provides buyers and sellers with the broadest possible market, the best value and the lowest transaction costs. Membership in the GDNX is open to ICANN-accredited registrars and registries, with public buying and selling in the GDNX enabled through GDNX members. Existing registrar-registrant contracts and relationships provide buyers and sellers with the advantages and protections of existing trusted relationships. The exchange is located at www.gdnx.org
More information about the GDNX is available at www.gdnx.org or by e-mail from [email protected].
The Global Domain Name Exchange (GDNX) is an exchange created for and supporting the valuation and transfer of previously registered or held domain names. Its membership is open to ICANN-accredited registrars and registries. Requests for information about participating in the GDNX can be found at www.gdnx.org, or by e-mail at [email protected]. It was formed on the basis of a grant from Momentous.ca.
:bah:
