NCB Stockbrokers' new online share dealing and information system, NCB Direct (www.ncbdirect.com) has generated a great deal of interest since it started three weeks ago.
Recording an average of 2,000 hits per day, it is the first Irish site to offer an online dealing service, including current portfolio valuation and access to personal dealing histories. These services are only available to existing NCB clients, who can also avail of NCB's research service detailing company performances and industry trends.
Online trading can be conducted on shares quoted on the ISEQ, FTSE 100 and FTSE 250 indices, while stock prices for Irish companies quoted on the Nasdaq are also available.
Services which are generating the interest of non-clients include a free share information service, delivering online quotes with a 15-minute delay from the ISEQ index. Irish stock prices from the Nasdaq and the London exchange are available with a 20-minute delay.
Previously, Aertel delivered the most frequently updated share information service, but it is only refreshed about four times daily.
According to Mr Jonathon Westrup, group business development director at NCB, the site is generating a lot of interest from a different type of customer.
"What we are seeing is a lot of Irish people working abroad looking to invest their money. Generally they tend to be young, and quite often working with multinational technology companies like Microsoft, Intel or Iona, where they would receive stock options. Now they want to find out more about the market and where they should invest."
Mr Westrup says NCB started looking into delivering the online service just over six months ago, when it emerged that 30 per cent of all US stock transactions are now conducted online.
"Stockbroking and financial services are set to change dramatically from what we can see it is bringing the stock market to a different range of individuals. By appealing to the younger computer literate population it widens our market."
The majority of activity on the site so far has been mainly administrative with visitors touring and registering with the site. Very few transactions have taken place, but NCB expects increased electronic trading once new clients have received their passwords to access the Website.
Visually the site is appealing, managing to look busy without intimidating the unwitting visitor. The home page features a tickertape running the latest Irish stock figures, and a scrolling panel delivering a weekly market brief with all the most timely developments on the markets.
Performance of the leading Irish stocks can be viewed at a glance, and currency data is available with a 15-minute time delay, quoting the rates for the pound against sterling, the US dollar and the deutschmark.
The site is simple to navigate, and visitors do not need to be au fait with stock exchange codes. By simply keying in the first few letters of a company's name visitors will be directed to the relevant company and receive all available stock information and the most recently traded price.
According to Mr Westrup, getting the site up and running has not proven too problematic. It took the expertise of just one site developer, Mr Kevin Kilthy, who was already a member of the inhouse IT team, and the advice of several outside consultants. Responsibility then lies with each department within NCB to ensure all its information goes online once it is published.
