MONTREAL, Sept. 2, 2016 /CNW Telbec/ - National Bank Direct Brokerage, a subsidiary of National Bank of Canada (TSX: NA) and a leader in online brokerage, announced that all of its clients will be able to trade online every Canadian-listed Exchange Traded Fund (ETF) on the Toronto Stock Exchange without any transaction fees. There are no restrictions related to account size or number of transactions, to the extent that a minimum of 100 shares must be traded. The announcement makes National Bank Direct Brokerage the first Canadian online brokerage firm to offer commission-free trading of every ETF listed in Canada.
"We're changing the online brokerage landscape," said Laurent Blanchard, President of National Bank Direct Brokerage. "No transaction fees for all ETFs listed in Canada. This will make online investing more accessible for a greater number of investors. At the same time, it ensures that National Bank Direct Brokerage remains at the forefront of innovation."
The objective of this new pricing policy is simple: to allow all investors, regardless of the size of their portfolios, to access the market for Canadian-listed ETFs, which replicate the performance of an index, a product or a group of stocks.
"With this announcement, National Bank Direct Brokerage is adapting to the needs of today's independent investor," continued Mr. Blanchard. "The savings on trading fees that our clients will realize will help them build their portfolios and grow their wealth. This is a milestone for the Canadian self-directed investment community and one which will benefit all clients."
About National Bank Direct Brokerage
National Bank Direct Brokerage is a trademark of National Bank Direct Brokerage, a wholly owned subsidiary of National Bank of Canada. National Bank Direct Brokerage offers no advice and makes no investment recommendations. The client alone is responsible for the financial and tax consequences of his or her investment decisions. National Bank Direct Brokerage is a member of the Canadian Investor Protection Fund.
About National Bank of Canada
With $230 billion in assets as at July 31, 2016, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has close to 22,000 employees and is widely recognized as a top employer. The Bank's securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.
SOURCE National Bank of Canada
For further information: (The telephone numbers provided below are for the exclusive use of journalists, other media representatives and shareholders.): Marie-Pierre Jodoin, Manager - Public Affairs, National Bank,Tel. : 514-394-4209