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Fidelity Set to Unveil a Revamped Desktop-Trading Platform

A Fidelity Investments office in Washington, DC, US, on Friday, March 1, 2024. The number of seven-figure 401(k) accounts at Fidelity Investments jumped 20% in 2023s final quarter to 422,000, marking a sharp recovery from the previous quarters 7.7% drop, an analysis released by Fidelity on Tuesday showed. Photographer: Graeme Sloan/Bloomberg (Graeme Sloan/Bloomberg)

(Bloomberg) -- Fidelity Investments is unveiling a revamped desktop platform for active traders, featuring faster processing speeds and a refreshed look.

The firm’s Active Trader Pro platform, which will include a new engine powering behind-the-scenes processes, will be rolled out as a beta version to some existing customers Tuesday, according to a person with direct knowledge of the plan. A waitlist for additional sign-ups was also offered on Reddit. 

Fidelity competes with brokerages including Charles Schwab Corp. — which recently completed an integration of TD Ameritrade Holding Corp.’s client accounts and assets — as well as Interactive Brokers Group Inc. and Robinhood Markets Inc. 

The retail trading business has gotten more competitive, with new entrants jockeying for market share to meet rising consumer demand for trading services. Americans can now even legally wager on election outcomes.

(Updates with rollout plan in second paragraph.)

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