NAB Launches Online Share Trading Platform

Submitted by Share Trading on 19 September, 2012 - 09:39

National Australia Bank (ASX:NAB) has announced plans to launch its own online share trading platform, Nabtrade, to compete with the existing market players which dominate up to 76 percent of the marketplace:

  • NAB Wealth group executive Steve Tucker said to the Australian, "This is a market that has been very sleepy (and) there's been two incumbents, who provide (for) that space and they've done very little to provide global innovation to local investors."
  • NAB estimates there are 2.5 million share traders in the market, with an estimated 20 percent who are current customers in its retail banking operations.
  • Nabtrades fee would be in line with other providers: $19.95 per trade.
  • NAB currently owns existing full service brokerage firm is JBWere.
  • NAB previously provided limited online trading services through a trading platform provided through a third party, IWL (a company which was acquired by Commsec)

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <blockquote> <h2> <h3>
  • Lines and paragraphs break automatically.

More information about formatting options

This question is for testing whether you are a human visitor and to prevent automated spam submissions.
5 + 4 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.

Download our FREE App

Signup for Free
Don't miss out on your free share trading articles.

Free Risk Money Management Calculator for those who sign up!