Fidelity Investments(R) today announced that it formed an alliance with Nextel Communications, Inc., (NASDAQ: NXTL) to deliver its InstantBroker(SM)(1) wireless trading service -- the first of its kind -- to mobile investors via all Nextel Internet-capable phones. Under the terms of the agreement, Fidelity secures placement on the Finance category of Nextel Online(SM) Wireless Internet Services.
Beginning in December all Nextel Online customers will be able to access detailed quotes, monitor watch lists and market indices. Fidelity Brokerage(R) customers can also access real-time stock quotes, watch lists, account balances and positions, wireless trading, order maintenance, alerts and portfolio summaries -- including NetBenefits(SM) 401(k), 403(b) and 457 account information -- via any Nextel Internet-capable phone.
"With the number of wireless data users estimated to reach 1.3 billion by 2004(2), expanding the InstantBroker wireless service continues to be important for Fidelity. We are pleased to team with Nextel to provide mobile investors with convenient access to market and account information, and control over their account transactions," said Joseph G. Ferra, senior vice president, Fidelity Online Brokerage. "Through this alliance, Fidelity will deliver Nextel's sophisticated and rapidly growing customer base -- many who are also Fidelity customers -- with mobile access to the markets and their portfolios and the ability to react to changing market conditions virtually anywhere."
Earlier this year, millions of Fidelity-managed retirement plan participants obtained new wireless access to their NetBenefits accounts via certain Web phones, two-way pagers and handheld computers. In June, Fidelity began offering retirement account access to about 1 million participants who also have Fidelity Brokerage accounts. InstantBroker, Fidelity's proprietary wireless technology, is currently available via handheld computers, one- and two-way pagers, Web phones and e-mail(3).
"With new content and functionality from Fidelity, Nextel Online customers can access and personalize market and portfolio information via their Internet-capable phones," said Greg Santoro, vice president Internet services, Nextel. "Fidelity will help us deliver a broader range of real-time financial information and services to our customers who count on Nextel Online for time-critical information and transactions."
Nextel Online is available through Nextel's i1000plus, i500plus, i550plus and i700plus phones. Nextel four-in-one phones deliver Nextel Online wireless Internet service, all-digital cellular service, text/numeric paging and the Nextel Direct Connect(R) digital two-way radio.
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