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Fidelity Launches Direct Online Trading For Foreign Stocks, Currency Exchanges

To provide an access for retail investors, broker/dealers and financial advisors to trade international stocks and exchange foreign currencies

Fidelity Investments has expanded its international investing capabilities with the launch of a new online platform that can make more accessible for retail investors, broker/dealers and financial advisors to trade international stocks and exchange foreign currencies in the international markets. With the new platform, investors can have automated and direct access to a set of global markets and foreign currencies, third-party research, news and real-time market data and quotes for foreign currency and international equities. They can also avail streamlined processing and record keeping of international equities and foreign currencies.

Fidelity has said that it gives investors the choice to settle foreign trades with US dollars. When an investor chooses this option, it eliminates the extra step of having to exchange currencies before placing a trade. Instead, the investor places a foreign trade and then it automatically exchanges the exact amount of foreign currency needed to execute the trade when the order is filled. If it is not filled, no currency exchange takes place.

To help broker/dealer and advisor clients to achieve diversification in their customers’ portfolios, the new online platform provides straight-through execution, settlement and custody of stocks in 25 foreign markets and 16 currencies through its brokerage technology workstations. Combined with the markets and currencies included, broker/dealers and advisors also can access the markets and currencies of Austria (Euro), Denmark (Krone), Finland (Euro), Greece (Euro), Ireland (Euro), Mexico (Peso), New Zealand (Dollar), Poland (Zloty), Singapore (Dollar), South Africa (Rand), Spain (Euro), Sweden (Krona), and Switzerland (Franc).

The company has further added that in addition to new online trading capabilities, broker/dealers and advisors also can execute trades in US dollars, with the help of its capital markets’ dedicated international trading desk, in countries such as Argentina, Brazil, Czech Republic, Estonia, Hungary, Indonesia, Israel, Luxembourg, Malaysia, Peru, Philippines, Russia, South Korea, Taiwan, Thailand and Turkey.

Richard Hart, senior vice president at National Financial, said: “Fidelity’s new international trading offering can help broker/dealers and advisors better meet their clients’ international investing needs and provide greater efficiencies, enabling them to spend more time with clients and grow their businesses. Additionally, the new offering, combined with the recent launch of Fidelity Clearing Canada ULC, reinforces Fidelity’s commitment to building a global trading platform to support the evolving needs of its broker/dealer and advisor clients.