Top Finance Houses Launch Direct Brokerage Service For International Investors

by Carla Johnson, Investors Offshore.com

22 June 2001

Banque Générale du Luxembourg and TD Waterhouse have teamed up to create Internaxx, a multi-channel, multi-currency, Internet brokerage service providing access to 10 international markets. Launched on 18 June, Internaxx is open for trading as an international execution-only service. Based in Luxembourg, the web site aims to target affluent investors willing to self-direct their investments and it will serve customers looking to access both national and international stock exchanges.

In a statement released by Internaxx this week, Marc Lenert, Managing Director, said: 'Many European investors have become more self-reliant and are looking to direct their investments at their convenience - at any time and from anywhere. With Internaxx, our clients can access 10 international markets, as well as their national market, efficiently, securely and at very competitive prices, in the currency of their choice. We plan to make Internaxx the premier international brokerage service of choice for self-directed investors in Luxembourg and across Europe.'

Investors can access the service through the site at www.internaxx.lu. The service offers:

• Automated real-time securities trading on the North American stock exchanges, London and the major continental European equity markets
• Competitive trading prices, including a discounted 'Frequent Trader' programme
• An interest bearing cash account available in major currencies
• Access to a range of European registered unit trusts from leading asset management companies such as Schroders and Fidelity
• Investment centre access with business hours
• Extensive research facilities in addition to graphic analysis, rate information, news, market summaries and client investment tools
• The benefits of Luxembourg's stable and well-regulated financial centre

Commenting on Banque Générale du Luxembourg's support for the venture, Carlo Thill, Vice Chairman of the management board of Banque Générale du Luxembourg, said: 'Internaxx is another step by Banque Générale du Luxembourg in providing international investors with the most competitive products and services, combined with the most in-depth knowledge and experience, available in the marketplace today.'

Bharat Masrani, Vice Chairman of TD Waterhouse Group, added: 'Europe is experiencing a huge shift towards widespread equity ownership and we are excited to embark on a joint venture to take advantage of the growth opportunities created by this trend. Our involvement in this project fulfils two of TD Waterhouse's core growth strategies - extending our global reach and expanding core and new growth segments. We are already a leader in the U.K and look forward to further developing our presence in the European region over the coming year.'

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