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Interactive Investor aims to be sole provider of online share trading for IFAs

Interactive Investor is planning an expansion backed by £8m of venture capital to make it the sole provider of electronic share trading for all IFAs and stockbrokers by next summer.


The company believes that it can steal a march over other on-line rivals as the only company offering such a service.


It is currently running a pilot of the service with investment bank Dresdner RCM.


Interactive Investor says the system is quicker, cheaper and more reliable than current methods of trading because it removes the need for paper-based back office administration.


It has secured £8m of funding from Hollinger Digital, a venture capital subsidiary of newspaper holding company Hollinger International. The group&#39s titles include the Daily and Sunday Telegraph.

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