A Faster Way to Trade for Autonomous On-line Investors :
New brokerage mode offered by National Bank Discount Brokerage Inc.
Montreal, 17 January 2001 -
As of January 22, 2001, clients of National Bank Discount Brokerage Inc. will be able to choose a brokerage mode allowing them to trade more quickly on stock markets over the Web.
In the following weeks, National Bank Discount Brokerage clients will have the choice between "Express" and "Direct" Mode Brokerage. All clients wanting more control over their investment portfolio and over and above all easy-to-access and expedient, yet even faster, trade processing can choose the "Express" mode option. Clients wishing to keep their current trading mode and have direct access to their portfolio, while retaining the services of an investment specialist, will be able to do so by selecting the "Direct" mode option
Following a decision by the Canadian Securities Authorities (CSA) to lift the "Know Your Client" rule, National Bank Discount Brokerage undertook a substantial restructuring of its discount brokerage services and proceeded to add the "Express" mode the already existing mode.
Over 45,000 of National Bank Discount Brokerage clients who trade using the Web or by cellular phone will be able to take advantage of this new "Express" mode. Indeed, it will make possible the almost instantaneous processing of their transaction orders and will provide them with the price nearest to the desired price, an important advantage on days when the markets are especially volatile.
This change coincides with the publication of a survey conducted in collaboration with Decarie & Complices indicating that 59% of Quebec investors use the Web both as a source of information and to keep track of their investments, and that 18% already trade over the Web. In addition, 25% of respondents claim that they will start trading over the Web in the near future.
According to National Bank Discount Brokerage President Yves G. Breton, the ever-growing use of the Web by Quebec investors clearly contributes to increasing their autonomy level, as he states: "We already know that Quebecers have a growing interest in finance, and thanks to the ease at which they have access to information over the Web, many want to take matters into their own hands". He adds: "The important issue for us was to make sure that our clients always have the opportunity to choose the appropriate brokerage mode as it relates to their needs and investment profile."
Both "Express "and "Direct" brokerage modes will offer many new features that will further equip self-directed investors. These features, which position us favorably, will facilitate fund transfers, provide an even more comprehensive view of the securities contained in a given portfolio, give direct and free access to Morningstar©, Canada's primary mutual funds reference, and Advice for Investors© which provides key financial data on over 4,500 Canadian businesses.
National Bank of Canada is an integrated group whose mission is to provide comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including all the investment banking services required by large corporations. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. The National Bank has assets of over $75 billion and, together with its subsidiaries, it employs some 16,600 people. The Bank's shares are listed on The Toronto Stock Exchange.
Yves G. Breton
National Bank Discount Brokerage Inc.
DIRECTION Strategic Communications