NBNZ gets into sharebroking

The National Bank has launched a comprehensive sharebroking service in conjunction with First New Zealand Capital.

Thursday, October 23rd 2003, 12:03AM

The National Bank has launched a premium online share trading service. The service enables the bank's online banking customers to manage their share portfolio and place buy and sell orders in five worldwide markets 24 hours a day, 365 days a year.

"This is a first in the New Zealand market," National Bank head E-commerce strategy Mark Peterson says. "Customers can now trade in five different markets and settle trades directly from their National Bank accounts.

"It is the level of integration of this new service that makes trading shares so simple for customers, and it also sets us apart from competitive offerings."

Online share trading is available for the following markets:
· New Zealand Exchange (NZX)
· Australian Stock Exchange (ASX)
· New York Stock Exchange (NYSE)
· National Association of Securities Dealers Automated Quotation (NASDAQ)
· London Stock Exchange (LSE).

The service has been developed in conjunction with First NZ Capital. First NZ Capital will host the website and manage share-trading transactions, with access to the website available through National Bank Online Banking.

"As a full-service stock broker, First NZ Capital has historically been limited in the number of clients we can effectively deal with," said First NZ Capital chief operating officer Adrian Durham.

"By combining with National Bank we are able to provide a high quality seamless customer experience to a much wider customer base, that fully exploits advances in both technology and accessibility of international markets. Most National Bank online banking customers can register entirely online and within seconds be placing orders for shares in companies around the globe. This is the sort of service that we believe should be expected of online share trading."

Online Share Trading gives customers access to share information, focus shares and research views from First NZ Capital. Customers can trial the new Online Share Trading service to test different strategies before buying as well as track shares they're interested in to see how they are performing on the market. In addition there is a wealth of educational material available about share investing for those who may be new to share investments.

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