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.”
