(AWS) has been acquired by The Financial Commerce Network, Inc. (TFCN), which is quoted on the over-the-counter market's Bulletin Board.

The cost of the purchase, which was expressed in shares and cash, has not been revealed.

AWS specialises in Block Trading and had intended to apply for membership in The Bermuda Stock Exchange in early 2000.

TFCN has said it will proceed with the application.

"This acquisition allows us to both serve our clients and grow our business,'' said Carl Walston, president of TFCN.

"Bermuda's neutral corporate tax regime and its new e-commerce legislation will benefit our clients greatly''.

Earlier this year, TFCN began offering accredited investors and institutions memberships in its financial and information services portal located at www.tfcn.com.

The website brings together an advanced and exclusive mix of online financial services, "best-of-breed'' products and informational and transactional services for TFCN members.

TFCN, through its new subsidiary AWS, which is a member of the North American Securities Dealers association, recently launched a proprietary "third market trading division''.

TFCN said it continues to actively pursue strategic alliances and acquisitions.