E*Trade Group Inc. Monday launched E*Trade Danmark, the product of an alliance
between E*Trade Nordic AB and Danish brokerage Difko Borsmaeglerselskab A/S.
The site will offer individual investors in Denmark the ability to trade
Copenhagen Stock Exchange shares online, as well as providing users with the
standard E*Trade portfolio of financial services.
The launch represents subsidiary E*Trade Nordic AB’s second regional debut,
the first being the launch of E*Trade Sweden. E*Trade Group fully owns its
nine country sites in Denmark, Sweden, the U.K., France, Korea, Japan,
Canada, Australia and New Zealand. The company has joint ventures in Korea,
Germany and South Africa, and recently bough out the U.K., Nordic and South
African ventures.
“With the addition of E*TRADE Danmark to the E*TRADE global family, we are
moving forward with our plans to establish the E*TRADE branded web site in
the top twenty financial markets worldwide,” said Judy Balint, chief
international officer of E*TRADE Group Inc. (EGRP). “As the number of self-directed investors continues to grow in Denmark, we
believe investors will take advantage of the power and convenience of online
investing through E*TRADE Danmark.”
According to research firm Danmark Statistik, one in three Danish households
is currently online, and the Danish Bankers Association reports that more
than 350,000 Danes use home banking services.
“The launch of E*TRADE Danmark comes at a critical time when the Danish
population is starting to invest online in record numbers, and moving from
obligations, or bonds, into equities,” said Denis Lewinsky, chief executive
officer of E*Trade Danmark.