Three international brokerages, at least two of them Internet-based, are starting operations on the Island.

Credit Lyonnais is setting up G-Trade on the Island and will have five people in its office. Internet brokerage firm E-Trade is also setting up a Bermuda operation. And yesterday DirecTrade ran an advertisement in The Royal Gazette stating that the company was going "Online. Offshore'' in five days.

DirecTrade is the Internet-based trading subsidiary of the Australian-based Macquarie Bank. A visit to DirecTrade Internet site (www.macquarie.com.au) lists that the information is directed only to residents of Australia and New Zealand.

"Macquarie Bank is the only major independent investment bank owned by Australians and headquartered in Australia,'' according to information on the site.

E-Trade Group Inc. (www.etrade.com) is one of the leading Internet companies in the online brokerage world. A company spokesman promised to have a someone contact but as of Press time, no information about the Bermuda operation was forthcoming.

On its website E-Trade has announced it is expanding its global reach by launching "branded web sites'' in the top 20 financial markets worldwide.

Meanwhile Credit Lyonnais Securities Asia Global Emerging Markets Group of Companies is in the process of incorporating G-Trade on the Island and setting up an office.

Inquiries by The Royal Gazette were not answered by the company.