Charles Schwab said Wednesday it is enhancing its global-investment offerings through a partnership with Broadridge Financial Solutions. In early 2012, Schwab says it will introduce technology that lets clients trade in 12 markets and eight currencies.
Broadridge will provide the technology needed to support currency trade processing, accounting and reporting.
In the fall of 2010, Schwab added services that let clients trade over-the-counter (OTC) foreign stocks much more easily. The firm says this trading grew by more than 300% in the first quarter of 2011 vs. the same period last year.
“As our clients continue to take a broader world view with their portfolios and their long-term goals, we want to be sure they have a platform that lets them access global markets seamlessly, and houses research, tools and guidance that enable them to become more confident and successful investors,” said Brian McDonald, senior vice president of active investor and core client experience at San Francisco-based Schwab, in a press release.