UK firms launch new services for retail investors
Two UK brokerage firms expand their services to attract more international clients and improve their trade offering.
Olivetree Securities Limited
Olivetree Securities Limited, an independent UK equities agency broker, said on Tuesday (17 May) that it had established a US subsidiary, Olivetree USA LLC, based in New York.
Since becoming a member of the US’s Financial Industry Regulatory Authority (FINRA) in February this year, Olivetree has won several US institutional investors through its UK affiliate, especially for European equities.
The US office is headed by Jim Cirenza, Olivetree USA’s chief executive officer, with over 25 years of experience in international equities and fixed income. Prior to joining Olivetree he was global head of securities at Carnegie Investment Bank for eight years and before that head of European sales in the US at JP Morgan.
Also in the US office are Elizabeth Tyndale as co-head of distribution, with more than 15 years of international equity experience including ten years at Morgan Stanley, and Tim Corliss who has joined as a senior member of distribution, with more than 15 years of trading experience.
Cirenza said the company was looking forward to making several new hires later this year.
TD Waterhouse, the UK execution-only broker, has enhanced its services on contracts for difference (CFD) and financial spread betting (FSB) to better cater to the different needs of sophisticated traders, the company said on Tuesday.
TD customers can now organise their trading through two distinct accounts: TD derivatives trading for CFD trades, which will also include currencies and futures, and TD financial spread trading designed for FSB trades.
“With the launch of the TD derivatives trading and TD financial spread trading accounts, our customers can take control of their trading needs and create their perfect trading environment,” said Darren Hepworth, trading and customer services director at TD Waterhouse.
Retail derivatives services are more suited to experienced traders and the company asks customers to take tests on a TD derivatives trading or TD financial spread trading account, Hepworth said. “It is very important to remember that retail derivatives trades are subject to higher risks and not suitable for everybody. For this reason TD has also developed free demos of the TD derivatives trading and TD financial spread trading accounts to help educate customers of the risks involved and to allow them to familiarise themselves with the services available.”