CyberTrader Launches Wireless Direct Access Stock Trading via Palm Devices

CyberTrader, Inc, the direct access brokerage subsidiary of The Charles Schwab Corporation, today announced the launch of “CyberTrader Direct”, a wireless direct access trading and intelligent order routing application available via Palm V and Palm VII handheld communication devices.

CyberTrader unveiled the new wireless technology at the International Online Trading Expo, which runs today through Sunday Aug. 19 at the Anaheim Convention Center.

Greg Ferris, President and Chief Operating Officer, said CyberTrader’s customers have been anticipating the development of wireless direct access trading to augment their active trading needs while away from their principal trading locations – in most cases their home or office computers.

“In today’s trading environment, we’re seeing direct access traders holding positions for longer periods of time – hence our customers desire the ability to open and close positions and manage their accounts at times when it may be more convenient to use a remote device,” Ferris said. “We’ve designed a robust wireless trading environment that extends CyberTrader’s state-of-the-art trading platforms.”

Customers will now have wireless access to CyberTrader’s proprietary order routing capabilities that provide a gateway to 10 ECNs and over 450 market makers, in addition to direct access order routing to the Redi and Island ECNs. Real time quotes, customizable stock lists, and account statistics are also available. Customers who own a Palm V, with a modem, or Palm VII can begin trading by accessing their accounts through the Palm browser or PQA. CyberTrader Direct is a service designed specifically for CyberTrader clients and is a distinct offering from Schwab’s PocketBroker service, which allows Schwab’s clients to access their accounts, check balances, read news, make trades or check quotes.