North American online brokerage TD Waterhouse has entered the pan-European sharedealing market through Internaxx, a multi-market, multi-currency direct share dealing service for retail investors developed in conjunction with Banque Générale du Luxembourg.
The execution-only service, based in Luxembourg, is being pitched at affluent investors and is designed to appeal to those who are, or who wish to become more actively involved in managing their finances, say the partners. Internaxx will serve customers looking to access both national and international stock exchanges and wishing to domicile their assets offshore.
The service will offer automated real-time securities trading on the North American stock exchanges, London and the major continental European equity markets (Frankfurt, Neuer Markt, Paris, Madrid and Amsterdam) in an investor's choice currency.
Access to a range of European registered unit trusts from leading asset management companies such as Schroders and Fidelity will be offered along with an interest bearing cash account.
Investors will also be able to use Internaxx's call centre and investment centre, along with research facilities provided by Bridge Information Systems in addition to graphic analysis, rate information, news, market summaries and client investment tools.
Angus Rigby, managing director of Internaxx says: "We plan to further expand our services, product range and access to exchanges in the near future and are confident we can make Internaxx the premier brokerage service of choice for affluent Europeans."
In a separate announcement, TD Waterhouse Investor Services in the US has launched an online Fixed Income Centre, giving clients access to more than 1000 fixed income and money market products via the Internet.
Clients can use the Fixed Income Centre to find prices, yields and credit ratings on hundreds of bonds and money market instruments. They can buy, sell or request prices for various fixed income products in real time, as read regular market updates via a daily commentary service.
A team of specialists will also be on hand to answer client queries regarding the online products and services available over the phone.
John See, president, TD Waterhouse Investor Services, says: "Because fixed income products are different from equities, some investors may need a little more information, so we have equipped clients with the tools to assist them in their online research, and our specialists to help answer their questions."