Screen trading step closer in Australia

Press, 18 December 1985, Page 42

Screen trading step closer in Australia

NZPA-AAP Melbourne Screen trading, a touchy subject for many Australian share brokers, moved a step closer yesterday with the launching of an electronic telebroking facility by the broker A. C. Goode and Company, Ltd. • facility, part of a information service being C'ided by A. C. Goode ugh the Telecom Viatel information system, will enable customers of the Melbourne broking house to Clace on-screen orders to uy and sell equities.

a. c. Goode’s marketing manager, Mr Gavan Collery, said the facility, to be known as “Goodestock” would also provide Viatel customers with a daily share market report, a detailed A. C. Goode research department analysis of key stocks, and a recommendation section covering about 150 of the most heavily traded stocks. “it will allow investors to access A. C. Goode’s extensive corporate information base from homes, motels, and offices.” “Approved customers

would be able to instruct A. C. Goode to buy and sell their stocks, simply by typing instructions on their Viatel screens and transmitting them,” he said. ’’Customers will have to be registered and provided with a number of security codes to access the telebroking service,” he said. Share dealings would be subject to normal brokerage rates after customers accessed the ‘Goodestock” system from anywhere in Australia for the cost of a local telephone call, Mr Collery said.