RealTime IT News

Ameritrade, Deutsche Bank Pair for International Trading

Looking to expand internationally, online brokerage Ameritrade Holding Corp. and Deutsche Bank AG Thursday formed a joint marketing venture that will allow their customers to trade online in both the German and U.S. securities markets.

Under the agreement, U.S. customers will be able to buy and sell stocks of major German and European companies through Ameritrade and Deutsche Bank's BANK 24 customers will be able to buy and sell stocks of U.S. companies through BANK 24's link to Ameritrade.

Both companies will provide educational materials to help investors make more knowledgeable investment decisions. They also intend to provide access to research and stock quotes.

The venture marks an extension of Ameritrade's relationship with Deutsche Bank. Ameritrade customers have already had access to leading Deutsche Bank mutual funds registered in the U.S. since June

"The relationship between Deutsche Bank and Ameritrade will make it faster, cheaper and more efficient to conduct cross-border trading between the U.S. and Europe, leading the way toward the development of whole new channels of distribution for global financial services," said Michael Philipp, Deutsche Bank's head of global equities.

"With the introduction of the euro in January, we believe the time is right to begin offering our customers access to European markets with a partner who knows those markets intimately," said Joe Ricketts, chairman and CEO of Ameritrade. "We view the relationship with Deutsche Bank as a unique opportunity to provide increased value to investors in both Germany and the U.S."