RBC Direct Investing to introduce lower commission ratesMore clients will benefit from reduced rates
TORONTO, September 28, 2007 — RBC Direct Investing
is introducing lower, simplified commission rates for self-directed
investors. The new preferred pricing will be available to
clients who qualify on the basis of either trade volume or
assets and will allow even more clients to take advantage
of reduced rates.
Under the new fee structure, clients with assets of $100,000
or more with RBC Direct Investing, or clients who trade between
30 and 149 times per quarter, will pay a flat rate of $9.95
per Canadian or U.S. equity trade. Options trades for these
clients will be $9.95 plus $1.25 per contract. Additionally,
clients who make 150 or more trades per quarter will pay a
flat rate of $6.95 per Canadian or U.S. equity trade; option
trades will be $6.95 plus $1.25 per contract. These new commissions
come into effect on December 22, 2007 for trades conducted
through RBC Direct Investing's online investing site or through
its automated telephone service.
"If there ever was a time to be a self-directed investor,
it's now," said Doug Coulter, president and CEO, RBC
Direct Investing. "This latest move continues our aggressive
strategy to provide investors with greater value and rewards
for their business. We're committed to delivering ongoing
enhancements and exceptional value for investors who choose
to manage their own portfolios."
Earlier this year, RBC Direct Investing introduced lower
pricing on over 40 RBC Funds. The management fees of Series
D units, available exclusively from RBC Direct Investing,
range from 0.60 per cent to 1.25 per cent for investors who
purchase a minimum of $10,000 per fund.
"With Series D pricing and new lower commissions for
more clients, we believe RBC Direct Investing is well positioned
to offer self-directed investors the best value in the online
brokerage marketplace," Mr. Coulter added.
About RBC Direct Investing
RBC Direct Investing, one of Canada's leading discount brokers,
is a wholly owned subsidiary of Royal Bank of Canada. RBC
Direct Investing provides leading-edge tools and resources
for investors who prefer to manage all or a portion of their
investment portfolio. Clients have access to their investments
24/7 online or by phone and can choose from a broad range
of investment products including stocks, bonds, GICs, T-bills
and over 2,500 mutual funds. Visit our website at www.rbcdirectinvesting.com.
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Media contact:
Judi Levita, (416) 974-8810
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