| News Release | Thursday 28 June 2001 |
Macquarie Financial Services private clients can now trade US stocks directly online at the lowest prices on the Australian market.
The service has been made available through a new alliance arrangement Macquarie has signed with Ameritrade Holding Corporation and can be found at www.macquarie.com.au/ustrading.
Ameritrade Holding is a pioneer of the US online brokerage industry with a 26-year history of providing clients a self-directed approach to brokerage services. They are the 4th largest US online broker by volume and the 5th largest by number of customers. They are recognised for their low cost, quality service and superior trade execution.
Macquarie Financial Services Division Head Brett Spork said the Macquarie agreement with Ameritrade was a major coup for the bank's private DirecTrade clients giving them an online advantage over almost all other US trading sites.
Mr Spork said this was yet another additional service available to Macquarie broking clients which complimented the expert full international broker service provided by Macquarie Financial Services.
"This service now gives Macquarie broking clients an enviable choice. When considering trading internationally Macquarie DirecTrade clients can opt for this online US broking service where they will receive access to the US markets, as well as superior research information, or Macquarie clients can continue to receive professional advice and assistance from the full service offered by Macquarie advisers.
"It is all about giving our clients a choice of how they want to conduct their investments, finding the client comfort levels and catering to those needs," Mr Spork said.
As well as providing Australian investors with the first direct access to a US online broking system, and a seamless statement and settlement process, the agreement offers equity market trades from $USD39.95 each. Macquarie private clients also have access to research and analytical tools on US stocks online.
This is a substantial discount on the $USD50 to $USD60 price Australian investors currently pay on average for non-direct access to the US market where buy and sell orders can be made online but where no direct transactions occur.
Mr. Spork said this initiative was an example of how Macquarie provided solutions to all of its clients' investment needs by seeking out the best and most efficient services throughout the world.
Macquarie Financial Services Associate Director - Christopher Fellas said the online service would compliment Macquarie's existing international share desk which helped investors to trade international shares with the assistance of a broker.
He said he had noted Australians were increasingly purchasing US shares and Macquarie clients now had the best resources available to make easier and more informed trades.
Anyone wishing to get information on how to access this new service should telephone
1800 000 579.
For further information, please telephone:
| Brett Spork | |
| Executive Director, | |
| Macquarie Financial Services | Tel: (02) 8232 3110 |
| Irene O'Brien, | |
| Public Relations, | |
| Macquarie Financial Services | Tel: (02) 8232 3241 |
| Mob: 0417 260 309 | |
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