Web-Broker, as the new service is called, provides investors with a fully integrated Internet trading service. Web-Broker is the most automated avenue for trading on the New Zealand Stock Exchange.
Access Brokerage chief executive Peter Marshall says that the launch of Web-Broker heralds the introduction of per trade brokerage fees to the New Zealand market.
"At $29.50 per trade, Web-Broker offers significant savings over standard New Zealand brokerage charges based on scaled brokerage fees and transaction value. New Zealand dollar adjusted, Web-Broker’s charges also compare favourably with overseas Internet trading facilities. There are no fees, other than brokerage, associated with Web-Broker and clients have unlimited access to the full range of real-time information services provided on the site."
Far more than an order placement facility, Web-Broker provides users with a comprehensive trading service from within the secure Access Brokerage web-site. All that is needed to utilise the system is an Internet connection - there is no need to download software.
The system encompasses order placement, order status, order alteration and cancellation, order history and integrated portfolio-monitoring facilities. Web-Broker clients can monitor orders as they progress through to completion with real-time order status updates.
While current NZSE policy prevents orders flowing directly into the NZSE trading system, Web-broker interfaces with the NZSE trading system to automatically report trades.
Web-Broker is fully integrated within the redeveloped Access web-site. The ability to trade flows seamlessly from the many NZSE market information services available on Web-Broker.
The new site offers users a range of information services that includes real-time quotes, customisable charting facilities, index summaries, securities data, real-time and archived company announcements and a personal portfolio monitoring facility (which updates automatically for completed trades through Web-Broker).
In 1996 Access Brokerage became the first broker in the country to develop a significant Internet presence. Despite the original site’s limited functionality, the growth in usage has been enormous. Last month alone users of the site clocked up over 260,000 NZSE quotes.
While the Web-Broker system is presently limited to NZSE listed securities, Access intends expanding the service to include offshore markets. It is also looking at the provision of a wholesale facility to provide a similar service for financial planners.
The Access Brokerage web-site incorporating the Web-Broker facility can be found at www.access-brokerage.co.nz
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