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Yahoo Japan to ally with Nikko, E*Trade in securities agent business !   Logged in as: Guest
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Yahoo Japan to ally with Nikko, E*Trade in securities a... - 6/1/2005 6:18:52 AM   
SiliconFreak


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Yahoo Japan Corp said it will tie up with Nikko Cordial Securities Inc and E*Trade Securities Co to enter the securities agent business.

Japan's largest online auction site operator as well as the leading Web portal said it hopes to launch the service in August or September.

As the registered securities agent, Yahoo Japan will serve as an intermediary between investors and Nikko Cordial and E*Trade, thereby enabling Internet users to open accounts for the two securities houses via its site.

Nikko Cordial, the core unit of Nikko Cordial Corp, Japan's third-largest securities company, had 2.06 mln accounts as of April 30.

E*Trade is the leading online broker with 620,000 accounts as of end-April.

Yahoo Japan said it plans to market financial products developed by the two partners.


Source : Forbes
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