DLJdirect Launches Online Trading Service in the UK

DLJdirect Tuesday rolled out its online brokerage service for individual investors in the UK.

The DLJdirect UK service will offer online trading at a 1 percent commission for trades up to £2,500 (US$3,976.13), with a 0.5 percent rate for the next £2,500 and 0.1 percent thereafter, and at a minimum trading fee of £15 (US$23.86).

DLJdirect (DIR) expects to offer trades of US Securities by October.

In June, DLJdirect opened a similar service in Japan, the first in a wave of brokerages to hit the region. In the UK, DLJdirect will face competition from fellow U.S.-based service E*TRADE UK, which launched last month.

Free Internet access leader FreeServe (FREE) launched its own online brokerage on August 17, as a joint
venture with GlobalNet Financial.com, Inc., First Marathon Inc. and Mesirow Financial. GlobalNet owns and operates FreeServe’s finance site, UKiNvest.

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