Ameritrade, Deutsche Bank Join For Int'Ltrading

Computergram International, Nov 20, 1998

Ameritrade Holding Corp and Deutsche Bank AG have joined to allow their customers to trade online in both the German and US security markets. It is believed that this is the first time companies have made cross-border trading over the internet possible. At present, investors can buy foreign securities through their brokers but not online.

Ameritrade and Deutsche Bank say broker-assisted international trading is time-consuming and expensive. In future, Ameritrade's customers in the US should be able to buy and sell shares in German and European companies on both Xetra and the Frankfurt Stock Exchange, while customers of Deutsche Bank's BANK 24 will be able to buy and sell shares in US companies. Both partners have committed to providing educational materials in local languages, and both say they will provide access to research and stock quotes. The companies originally came together in June to give Ameritrade clients access to Deutsche Bank mutual funds registered in the US.