May 16, 2006 10:30 ET

Pricing Gets Even More Competitive for Active Investors at National Bank Discount Brokerage

MONTREAL, QUEBEC--(CCNMatthews - May 16, 2006) - National Bank of Canada (TSX:NA)

National Bank Direct Brokerage (NBDB) active clients will soon be able to trade for as little as $9.95.

Investors who perform at least 30 online stock or option trades each quarter(i), will pay only $9.95 in commissions. This commission price, one of the most competitive on the market, officially comes into effect on August 1, but will be applied immediately for investors who meet eligibility criteria.

The new commission schedule for trading Canadian and U.S. shares is
as follows:

- Flat fee of $9.95 for trades of Canadian shares priced at $0.99
or less and for trades of 1,000 shares or more priced at $1.00 or
- Commission of 1 cent per share for trades in excess of 1,000
Canadian shares priced at more than $1.00.
- Flat fee of $9.95 for trades of U.S. shares.
- Commission of $9.95 plus $1.25 per contract for transactions on
Canadian and U.S. options.

Moreover, the National Bank Direct Brokerage transactional website now offers high-performance tools such as Recognia™, an advanced technical analysis tool that will help investors better understand securities and the potential impact of security fluctuations on their portfolio and MarketMatrix™, a powerful market watch tool that lets investors access such features as real-time streaming quotes, market depth information and real-time streaming charts. With these changes, NBDB is rising to the expectations of even the most demanding investors by simplifying direct brokerage trading and giving them the tools to make informed decisions.

National Bank Direct Brokerage has earned a reputation for the quality of its client service. For the second consecutive year, it has been named the discount brokerage with the best client service by Dalbar, a research firm specializing in the financial services industry.

NBDB has more than 100 securities brokers who can meet the particular needs of investors who opt for direct brokerage solutions and can accompany them in their investment choices. With $9.3 billion in managed assets, National Bank Direct Brokerage is the 4th largest direct brokerage firm in Canada, and the leading broker in Quebec based on market share. A subsidiary of National Bank of Canada, National Bank Direct Brokerage also has operations outside Quebec and offers its services through Altamira Securities.

(i)Between May 1 and August 1, 2006 a trade is defined as a share or option order that has been filled and has generated a commission. As of August 1, 2006, a trade will be defined as an order filled on the same side of the market (buy versus sell), on the same account, on the same security, carried out on the same stock exchange on the same day. The commission will be calculated at the end of the day based on the combined total share quantity and will be considered as one trade.

The valuation period extends over the three months preceding the first day of each month. The general fees and commission schedule continues to apply. Certain conditions can apply.

Applies only to transactions performed via our website or our Interactive Voice Broker.

About National Bank of Canada

National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has more than $105 billion in assets and, together with its subsidiaries, employs 16,993 people. The Bank's securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank's website at

The telephone number provided below is for the exclusive use of journalists and other media representatives.

Contact Information

  • National Bank of Canada
    Denis Dube
    Senior Director, Public Relations
    (514) 394-8644