Questrade Inc.

Questrade Inc.

July 14, 2008 08:30 ET

Questrade to Acquire eNorthern

Solidifying its #1 ranking as Canada's fastest-growing online brokerage, Questrade acquires Northern Securities' online division

TORONTO, ONTARIO--(Marketwire - July 14, 2008) - Questrade Inc. today announced it has reached agreement with Northern Securities to acquire the investment bank's online division clients (eNorthern). The transition of eNorthern brokerage clients to Questrade will take place on August 1st, 2008.

The deal with eNorthern marks Northern Securities' closure of its online brokerage service.

Edward Kholodenko, President and CEO of Questrade says: "Questrade is the ideal home for eNorthern clients. We understand the calibre of the brokerage services they've enjoyed. I believe we can continue to build on their success through our existing offering and with the new products and services we will be rolling out in the coming months."

Questrade was recently identified as Canada's fastest growing online brokerage by Investor Economics, the independent firm that rates online brokerage market share in a quarterly report.

Continues Kholodenko: "Our business has experienced tremendous growth, in large part due to our simplified, equitable pricing and the introduction of innovative new products and services. The success of our approach is evidenced in this growth."

Questrade's simplified stock pricing --1 cents per share, with a minimum commission of $4.95 and a cap of $9.95, was introduced on April 1st, 2008, and is available for all Questrade clients. Other recent innovations include the USD in RSP™, the only registered account in Canada to hold U.S. currency. Questrade also offers gold bullion and coins for registered or regular accounts, as well as options and foreign currency trading.

About Questrade:

Questrade Inc., headquartered in Toronto, provides Canadians with high-speed, direct access trading in the U.S. and Canadian stock and options markets as well as forex trading. Since its inception in 1999, the company has grown and diversified: Questrade client services specialists speak 13 languages including English, French, Mandarin, Cantonese, Spanish, Russian, and Hebrew. The company continues to demonstrate its competitive leadership with a combination of outstanding service, advanced technology and competitive pricing structures.

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