17 November 2005
Macquarie's online trading facility, DirecTrade, today announced it has launched a new trading website that provides traders with a dynamic customised platform that has most of the features used by professional share market traders.
Macquarie Head of Direct Service and Operations, James Leplaw, said the new site, DirecTrade Plus, would be available to all frequent trading clients of DirecTrade free of charge, or by subscription for other clients, and would provide real time information on what was happening on the market.
The new website can provide traders with up to nine simultaneous screens and, for the first time, gives them access to the newswires like Dow Jones and all of the actual ASX announcements as they are posted.
"DirecTrade Plus also has an alert function based on a trigger price or a company announcement. The alert function will notify the user when any announcement has been made by a company that they have set an alert for, or if a particular price has been triggered," Mr Leplaw said.
"Through DirecTrade Plus, clients can also access Macquarie research. This means they do not have to keep logging in and out of the site to access the tools they need."
"This is a professional desk top broking tool that is customised to the needs of each individual client that gives them immediate access to their portfolio, dynamic news, dynamic pricing, the ability to view contract notes and their CHESS sponsored holdings."
Mr Leplaw said the new website was currently being rolled out and would be available for no additional cost to clients who had completed 15 trades per month on a rolling three month average.
"Other trading websites stipulate that you must meet their hurdle rate on a per month basis and they enforce that rule, but we understand that trading is a flexible investment option and the number of trades per month might vary. By doing it this way our clients will not be constantly having their access changed from month to month. Clients that take a break or a holiday for a month, are less likely to lose their access to the platform, unlike other brokers," he said.
"We are providing excellent phone support for our clients to introduce them to the new DirecTrade Plus features and the reaction so far has been very positive. Our clients enjoy the fact that we provide a high level of service and support to ensure they make full use of the product".
He said the existing DirecTrade trading platform would continue to operate for clients who were not Frequent traders.
"While DirecTrade Plus is available to all clients, the costs are significantly different and, if you aren't trading on a very regular basis, we need to provide a range of trading vehicles that meet a range of different needs," Mr Leplaw said.
"Not everyone is going to need the level of performance, real-time information and access to sophisticated screens that DirecTrade Plus provides.
"DirecTrade will still provide the extended service that it always has including phone trading and access to advice when clients require it."
Mr Leplaw said the new DirecTrade Plus was now at a level of sophistication that it could be adopted by small broking firms who wanted to run their trading platform from their desktop.
"The considerably expanded features gives small trading firms everything they would need to help their clients, but they will no longer need SEATS operators, their compliance and infrastructure costs will be reduced and the licensing costs for software will be considerably reduced," Mr Leplaw said.
For further information, please telephone:
Head of Direct Service and Operations
Macquarie Financial Services
Tel: (02) 8232 4690
Mobile: 0414 345 146
Head of PR & Communication
Macquarie Financial Services Group
Macquarie Funds Management Group
Tel: (612) 8232 3241
Mobile: (61) 417 260 309