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Brokerage Makes Overseas Trading Easier

G-Trade performs complex back-office work to give investors ease of use and speed when trading on foreign exchanges
G-Trade Services Ltd. has taken the hassle out of trading stocks listed on foreign exchanges. The brokerage subsidiary of Bank of New York Securities has developed a process for settling trades on overseas exchanges in U.S. dollars, eliminating the drudgery of converting from local currencies.

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.

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