|
New Zealand brokers |
Background |
Services include |
Cost |
|
Access Brokerage: Web-Broker www.access-brokerage.co.nz |
Web-Broker just launched with flat rate for trades. Currently negotiating to offer trades in overseas securities. |
Order placement, status, alteration, cancellation etc. Claims to be the most automated service (internet connection only needed) |
$29.50 per trade |
|
Direct Broking: Direct-Trade www.directtrade.co.nz |
Launched in August after 3mth trial. Expect direct trade to be 40% of business within a year. |
Encrypted info service, portfolio updates, real-time prices, immed order confirmation etc. NZSE and Aust-listed stocks. |
0.7%. Also for NZ $20 min plus $4 trade fee, for Aust $A50 min plus Aus stamp duty |
|
DF Mainland: |
Since 1996: says it was the first to operate online in Southern Hemisphere. Now broadened to retail clients. |
Immediate order confirmation, real-time prices etc, access to DF Mainland institutional research |
0.7% with $20 min |
|
Australian services available to NZ investors: |
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E*Trade Australia: www.etrade.com.au |
US-based firm, trades available for NZ investors for the last six months |
Info on Aust and US stocks, trades only in Australian-listed securities |
$A49.50 per trade up to $A75,000, 0.1% for trades above that |
|
Sanford Securities: www.sanford.com.au
|
Perth-based firm with large online service |
Trades only in Australian-listed securities only. Extra financial information service for monthly charge |
Larger of 0.1% or $A28.95 per trade, max order $A50,000 |
Who's planning it:
E*Trade: coming to New Zealand, probably next January. Alex Burt, director operations for E*Trade Australia, says that details are currently being finalised between his company, ANZ and Computershare (E*Trade already has an alliance with ANZ in Australia). Burt says E*Trade will offer New Zealand investors the ability to trade NZSE, Australian and other foreign-listed securities.
ASB Bank: The bank signalled that it would launch an online service when it bought sharebroker Warburg Dillon Read earlier this year. However, Peter Hall, general manager Treasury and Institutional Banking, isn't giving much away at this stage: "We are progressing an Internet-based strategy...we'll very definitely announce something by the end of the year."
Merrill Lynch: The US-based broker announced in May that it would be involved in direct Net trading by the end of the year. However, no timetable yet for when this might reach New Zealand.
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