Five New Zealand sharebrokers have already signed up to an Australian Internet share trading system which will launch in this country later in the year.
SharesLive, as the product is called, is hardly the first Internet trading system, but unlike most of the others it comes from a specialist in brokerage software, Brisbane-based Star Systems.
The company’s flagship product, Shares, is an integrated trading system used by around half of Australia’s brokers. It links brokers direct to the Australian stock exchange and accounts for about 40% of the exchange’s turnover — or $A15 billion in trades per month — says Star spokesman Danny Hay.
SharesLive extends the trading functions offered by Shares from dealers to individual investors. It provides what Star managing director John Puttick describes as “a relationship between the client and the broker”, where data on individual brokers’ databases can be accessed in real time by registered clients.
Puttick says the service is available now to New Zealand investors who wish to deal with Australia brokers who have been using SharesLive since August. There will be a local version available in the third quarter of this year.
Star registered the domain name shareslive.co.nz in December.