TD Waterhouse heads to Eire
EXECUTION-only stockbroker TD Waterhouse will on Saturday launch an online equity trading service in Ireland in the latest step of its European expansion strategy.
The broker plans to provide Irish investors with online trading services on both local and international equity markets, as well as delivery direct access to a number of international trading exchanges.
“Our research has shown that the Irish market is currently dominated by a small number of online brokers with limited equity trading services, at premium prices,” said TD Waterhouse’s chief executive Angus Rigby. He added that Irish retail investors can now benefit from “significantly lower costs”.
The new service will mean that customers will have access to 18 local and international exchanges.
“In the current economic climate, the scope to take advantage of markets outside of Ireland opens up a vast new range of investment opportunities,” said Rigby. “Twelve per cent of our trades by UK customers are in international stocks, and we fully expect our Irish customers to respond with the same enthusiasm.”
Last month the broker announced its intention to acquire clearing and settlement house OMX Securities, and is currently awaiting regulatory approval for the deal to proceed. OMX Securities will then re- brand as TD Waterhouse Corporate Services (Europe).