Ameritrade to launch institutional trading platform

Ameritrade to launch institutional trading platform

Online brokerage firm Ameritrade is to launch a new trading platform for institutional clients.

The Ameritrade Connection platform, to be rolled out later this month, will bundle Ameritrade's low-cost trading platform and customisable products and services for registered investment advisors (RIA) and independent broker/dealers (IBD).

Vince Passione, president, institutional client division, says: "The Ameritrade Connection is focused on the needs facing our institutional partners, RIA and IBD clients, who want to utilise tools and services that attract and better serve their individual investors."

Using the platform RIAs and IBDs will be able to manage multiple accounts, create hierarchy configurations and deliver content and functionality by entitlement level.

Users will be provided with a range of new order functionality tools such as block trading, market open and on-close orders, defined time-in-force dates, access to intra-day balances and positions, real-time quotes and online order status, more than 900 No Transaction Fee (NTF) mutual funds and stock screening tools.

RIA and IBD clients can also subscribe to Ameritrade's enhanced trading tools, including StreamMachine with streaming customisable stock quotes; Super StreamMachine with tick-by-tick data and Level II quotes; and Advanced Analyzer stock screening, charting and advanced analytical tools.

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