E*Trade Launched in Sweden
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Technology from E*trade will now be exported to Scandinavia, with the Swedish site as the first to open for business.
The well-known E*trade is licensed to E*trade Nordic, with E*trade Group Inc. controlling over 12 percent of the company.
To stimulate the market, Sweden's E*trade will offer free trading in June and July for customers who open custody accounts before June 24th.
The free offering is one way of attracting interest from new users. E*trade must compete with banks and other independent traders like Teletrade and Avanza, which also owns financial information site Inside.
Johan Brenner, CEO of E*trade Nordic, said that the company is extremely proud of being a part of E*trade's global and growing network and looks forward to the future development of E*trade as the leading place for online investments and personalized financial services.
The new site visitors will feature news from local Swedish and international market. In partnership with Delphi IT, E*trade has developed a diagram service called DigMan that presents the real-time development of individual stocks.
E*trade Nordic has not announced specific dates for plans to move in to the rest of the Scandinavian markets.