UK personal finance portal moneyextra.com has struck a deal with online broker StockAcademy to offer electronic dealing and settlement in all UK Crest eligible securities.
The sharedealing facility - which offers instant online enrollment and trading via debit card - will be fully integrated within moneyextra.com's portfolio service, which has 300,000 registered users.
Commenting on the deal Julian Martin-Redman, senior executive officer, StockAcademy says: "As the number of investors trading online increases, so will the number of new broking services. Technological and infrastructure costs have prohibited some businesses from setting up an online trading and settlement service for their own customer base."
Lorcan Murphy, investment products director at moneyextra.com concurs: "This is a highly competitive market. Consumers are increasingly expecting add-on services as well as cheap and efficient share trading. We have put together two leading services to provide an integrated offering in one place, and provided this at a market-leading price."
StockAcademy's Internet trading system was launched in July. The company says it will roll out services for digital TV and WAP in the coming year.