Direct buys part of Access

Wednesday 15th September 2004

Direct Broking, a subsidiary of Dorchester Pacific, has purchased the client registration database from the liquidators of Access Brokerage.

"It is important for the market that clients are offered services on an ongoing basis and we were pleased to be able to reach satisfactory resolution with the liquidators," Dorchester managing director Brent King said. "Subsequent to purchasing the database, Direct Broking has received approval from NZX to allow former Access clients to deal with Direct Broking without having to formally re-register."

King said, "the retail investor is a very important component of any market and Direct Broking had been a leader in this field. Its services of internet broking, discount broking, advisory and particularly fixed interest in government stock, notes and bonds were particularly well received in the investor market."

Direct Broking continues to be active in the capital raising and new listings sectors.

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