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Best bank site for equity trading

Best bank site for equity trading
Morgan Stanley Dean Witter

Online equity trade execution is an area that many banks are uncomfortable discussing. While every big firm claims to be working on online click and trade for bonds, online equity trading is neglected.

Some firms said they might want to discuss equity trading some time in the future. “But,” as one banker mumbled, looking at the floor, “you are here to look at our online research.” The research turned out to be no more than a one-stop PDF shop. The bank did not win.

Morgan Stanley Dean Witter wins the online equity execution award because it is rare in offering a product that works.

Eli Lederman, Morgan Stanley’s executive director in charge of electronic trading services, explains what Trade XL does: “It’s an institutional online trading platform running globally on your PC.” He continues: “We are providing the services people want. Some people want to transact with us electronically, and others don’t. The existence of e-trading doesn’t in any way substitute other methods of distribution. It’s a choice, and we want to do everything we can to facilitate that.”

It remains to be seen whether investors demand this sort of execution, especially as they can already trade through electronic crossing networks.

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