Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Internet Share Trading - DirectTrade Launched

Nigel Wynn, Managing Director of Direct Broking Ltd, announced today the launch of his firm's online Internet sharemarket trading service, DirectTrade. Over the last three months DirectTrade has been tested and used successfully by Direct Broking clients. DirectTrade is now available to new clients.

DirectTrade can be found at www.directtrade.co.nz

The advantages of Internet trading include, lower cost, greater availability of information, reduced transaction time and a 24 hour order placement. DirectTrade allows clients to place buy and sell 24 hours a day, 7 days a week. The brokerage rate for clients using DirectTrade is 0.7%, or about 1/2 the rate of traditional brokers.

"This is an exciting development for a New Zealand owned and operated sharebroker," said Mr Wynn.

DirectTrade allows clients to place orders to buy and sell New Zealand and Australian shares either at market or at price limits determined by the client. Orders are confirmed by Direct Broking on receipt and the client can check the status of their orders at any time.

Mr Wynn said that the Portfolio Management feature of DirectTrade would appeal to many clients. Clients register their holdings and the portfolio is updated automatically for all sales and purchases made over the Internet using the DirectTrade service. The Portfolio Manager updates the portfolio every day and can be printed by the client as a permanent record.

Direct Broking expects Internet trading to grow to about 40% of its business. However Internet trading will not appeal to everyone. "Many people do not have access to an Internet capable PC, either at home or for trading purposes during working hours" said Nigel Wynn. "We are working to improve our existing telephone based service for non-Internet clients".

Direct Broking limited is a New Zealand owned and operated discount sharebroker with offices in Auckland and Wellington.

ENDS....

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>