Velocity for Schwab customers who make at least 100 trades a year through the San Francisco firm.
The new system is also available to Schwab's Signature Services clients, those with a minimum of $100,000 in household equity or who make more than 12 commission-based trades a year.
The system, which features Marimba, Castanet, and Java technology, is designed to speed the transfer of trade and quote information between brokers and investors. Clients can also use the system to access multiple accounts without having to enter multpile log-ins.
Velocity complements a number of special services for Signature customers, including access to round-the-clock customer support and to such third-party research firms as First Call, Hambrecht & Quist, and Credit Suisse First Boston.
Schwab plans to begin a pilot program in the fourth quarter offering level 2 Nasdaq real-time stock quotes, which will allow investors to see bids and match prices. E-Trade Group of Menlo Park, Calif., offers a similar service.