E*TRADE Securities has launched its Global Trading platform, to give US retail customers online access to foreign stocks and currencies in the major international markets and will have the ability to buy, hold and sell in the respective local currency.
The pilot launch is focused on the major global markets: Canada, France, Germany, Hong Kong, Japan and the United Kingdom, and may be expanded to include online access to up to 42 international markets and related currencies.
“Demand for international investing continues to rise dramatically in the United States,” says R. Jarrett Lilien, the President and Chief Operating Officer at E*TRADE FINANCIAL Corporation. “Retail investors see international investments as a key component of overall portfolio diversification and, want the added benefit of direct share ownership. Our Global Trading initiative offers E*TRADE customers online access to six major international markets, making it easy and affordable to own foreign equities.”
A recent survey of E*TRADE brokerage customers indicates that 67 percent of those polled are interested in trading stocks on foreign exchanges, with Mass Affluent investors as likely as Active Traders to take advantage of direct international investing opportunities. Those surveyed cited the opportunity for enhanced portfolio diversification (85%), currency exposure (59%), and the opportunity to invest in growth sectors/stocks (49%) as the top three reasons why direct investing outside the US is attractive.
The Global Trading platform will be made widely available to E*TRADE customers in Q2 2007.