Five years ago if a New York City broker wanted to buy stock on the Russian exchange, he might have been surprised at the time lag between his order to buy and the settlement date. Why? Because without central registrars, the only way to settle the transfer was to put someone on the train from Moscow to Siberia -- or wherever the company was located -- and physically hand the documents to the proper company officials. Granted, five years is an eternity in the scope of technology, but trading in emerging stock markets around the globe can still present some challenges whether you are investing as an individual or on behalf of an institution. So why bother going outside such well-regulated markets as the Nasdaq or the venerable New York Stock Exchange? Because sometimes a foreign market can offer things that a domestic stock exchange can't. For example:
Terri Morrison and Wayne A. Conaway are the coauthors of Kiss, Bow, or Shake Hands: How to Do Business in Sixty Countries, Dun & Bradstreet's Guide to Doing Business Around the World, The International Traveler's Guide to Doing Business in the European Union, The International Traveler's Guide to Doing Business in Latin America, and their newest book: The 1999 World Holiday and Time Zone Guide. For further information about Getting Through Customs' seminars, online database, and books, phone (610) 725-1040 or fax (801) 516-8774. E-mail: [email protected]. Mail: Box 3510 Goshen Road, Newtown Square, Pa., 19073. Enter their Web site book contest at http://www.getcustoms.com.