Working in concert with Bloomberg LP's Tradebook ordering system, G-Trade has created a dashboard-like display that lets investors view prices of securities listed on overseas exchanges in both local currencies and U.S.-dollar equivalents. To make trades, investors simply click a button, and G-Trade takes it from there, performing the complex back-office work associated with currency conversions. Along with ease of use comes speed: Trades are executed on foreign exchanges, but they're settled in the United States at G-Trade's fully automated back-office facility in Islip, N.Y.
The process fulfills a demand for greater disclosure of the costs of executing trades, which are often hidden from investors, says G-Trade managing director Andrew Levine. A pull-down menu displaying information such as fees and foreign-exchange rates is directly viewable on the screen, letting investors determine exactly how much trades will cost.