E*Trade Inc, part of Nova Pacific Securities, yesterday opened Australia’s inaugural internet-only stock broking service. For a premium price of $32.2 a trade, customers can buy and sell shares online – traditional discount brokerages typically charge only $19.50-$26. Nevertheless, E*Trade’s bundled online stock services could be compelling enough to sign up, says managing director Graham Cook. Real-time stock quotes, AAP and Reuters news feeds, and Australian Stock Exchange company announcements are all part of the service. Nova Pacific’s E*Trade operation is licensed from the US internet broking organization of the same name. The Australian operation is E*Trade’s first venture outside North America.
