DLJ launches on-line service

By WAYNE ASHER
Updated:

 

A brand new Internet stockbroker ha opened its doors. It comes from DLJ Direct, which is part of Wall Street giant Donaldson Lufkin & Jenrette and its site offers up-to-date company data charting facilities, and expert analysis, as well as cheap dealing in real time.

Investors buying shares over the Internet can deal at a stated price, as well as dealing from home at a time which suits you.

DLJ Direct charges a minimum of £15 per transaction, while a £20,000 trade will cost you £20. There are no monthly fees or extras, in contrast to many Internet stockbrokers.

The service also features a telephone helpline - research from DLJ suggested that investors least likely to switch to online broking are those who fear the pace of change, or fear that the internet could become a time-consuming threat to their lifestyle.

In the US, DLJ has more than 650,000 customers and has carried out more than $50bn (£32m) in online transactions.

Today's launch means that there are now five firms offering real-time Internet dealing, E-Trade, Barclays Stockbrokers, Stocktrade, Charles Schwab, and now DLJ.

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