Discover Brokerage, the online trading unit of Morgan Stanley Dean Witter, New York, will begin offering wireless Internet stock trading this spring to users of hand-held computers that operate on Palm Computing or Windows CE operating systems.
Discover has partnered with wireless services provider Aether Technologies, Owings Mills, MD, to offer the application. The trading application, which enables users to check stock quotes, track accounts and make trades, will be available to the customers of both companies who own a hand-held computer with the purchase of a modem and a monthly service fee of $70 a month, said Discover spokesman Rob Livingston. The price of wireless trades will be the same as online trades.
Wireless trading will be marketed to Discover customers with a message that appears when they log in to their account and to several thousand Aether customers who receive wireless stock information but cannot trade. Discover also plans to promote wireless trading to attract new accounts through banner and print ads.
Discover is the first online broker to offer wireless trading.