Online share trading company Bell Direct has launched a new “placement guarantee” facility for online traders and investors.
The new facility will guarantee customers that any “at market” share trade order will be placed with the Australian Securities Exchange within two seconds, or customers will pay no fee for that trade.
The company is introducing another related innovation called the “eligibility scorecard”, a web page on the Bell Direct website where customers can track the progress and speed of orders.
By checking this web page, customers can see whether their order was placed within the two second guaranteed time, so that the process is transparent.
Bell Direct chief executive Arnie Selvarajah said the introduction of the guarantee was “particularly timely and relevant in light of the recent volatility on the share market that had triggered massive share trading volumes”.
“For active investors and frequent traders even small delays in placing orders are frustrating and potentially very costly.”
