has completed the conversion of National Discount Brokers
' (nbd.com) clients into its own system. As a result, Ameritrade has been able to launch Ameritrade Plus
. Ameritrade also makes use of nbd.com's clearing operations as its own.
Ameritrade begin its acquisition of nbd.com on July 31.
Ameritrade Plus, the third leg of the firm's private client division, offers the following services:
- Account Executive (for accounts with $5,000 or more),
- real-time level I streaming quotes,
- $15 commission for Internet equity market orders,
- online chat,
- customizable charts and graphs,
- real-time news,
- multiple account access,
- access to over 9,500 mutual funds,
- real-time account status including gains and losses and schedule D tracking,
- broker-assisted, online, IVR and wireless trading,
- order routing through Ameritrade's proprietary system,
- and equity research capabilities.
"Ameritrade Plus combines outstanding value with enhanced features for clients seeking long-term portfolio management. One of the main benefits is the Account Executive, which is similar to a personal broker. This offering allows more choice and greater customization to meet the investing needs of different segments of self-directed investors," contended Joe Moglia
, ceo of Ameritrade. "Also, the speed with which we completed and integrated the acquisition of ndb.com demonstrates our agility and capability to achieve a quick return on our investment."
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