Online stock brokerage E*Trade Financial Corp. (ETFC) announced Tuesday that it is launching a trading platform allowing U.S. clients to buy and sell foreign stocks and currencies on the Internet called “Global Trading”.
E*Trade’s new Global Trading service hosts online trading of stocks listed in Canada, France, Germany, Hong Kong, Japan and Britain. The platform may be expanded to include as many as 42 international markets.
CEO Jarrett Lilien said in a statement demand in the U.S. for access to stocks traded on foreign exchanges is rising dramatically. He said U.S. investors poured more money into foreign mutual funds last year than funds based in the U.S.
The company polled its customers and found more than two-thirds wanted to trade stocks listed on foreign exchanges. Clients wanted better opportunities to diversify their portfolios, access to foreign currencies, and access to stocks in sectors that are expanding quickly, the company said.
Shares of E-Trade rose 8 cents to $24.28 in morning trading on the Nasdaq.
E*Trade switched their listing [ET] on the NYSE in December to [ETFC] on NASDAQ
“We are pleased to join NASDAQ, a true innovator whose value proposition parallels our own, leveraging technology to provide customers with low fees, superior service and fair, efficient and transparent market access and execution,” said Mitchell H. Caplan, Chief Executive Officer, E-TRADE FINANCIAL Corporation.
E*Trade Execs also opened the market this morning…
E*TRADE opens NASDAQ Found via [ NASDAQ]
Global Trading Found via [ CNN ]
Global Trading at E*TRADE [ Global Trading ]
