Broker to offer online, mobile stock trading soon
MANILA, Philippines - In a bid to encourage more retail investors to invest in stocks, the Philippine Stock Exchange (PSE) said it has signed up its first brokerage firm that will utilize its off-the-shelf online trading facility.
In a statement on Monday, August 12, the PSE said BA Securities was the first trading participant to avail of the PSETradex, which allows the brokerage firm to offer online trading services to clients.
The exchange developed PSETradex to help traditional brokerage firms hurdle the challenge of putting up an online platform that allow retail clients to personally post their buy and sell orders online and on their own.
Piggy-backing on the PSE-linked online trading platform, BA Securities will launch “BASecOnline” on August 27, 2013.
"Online trading is really the best way to go to reach out to retail stock market investors. I’m also excited for our investors who can now have the accessibility and convenience of being able to trade and monitor their portfolio on the go," Bryan Lao Ang, President of BA Securities Inc, said.
PSE president and CEO Hans B. Sicat considered the announcement another "historic milestone" for the exchange.
“We’ve seen retail activity grow significantly the last few years and that can be attributed greatly to the increase in number of online investors. As we assist brokers to go online through PSETradex, we expect the investor base and the market’s trading activity to improve even more," Sicat said.
Part of the future plans for PSETradex is to launch a mobile wireless application so investors can trade on their smartphones. "It enables investors, who have registered with stockbrokers, to trade in a totally mobile environment," PSE said.
"We shall be launching the mobile application that comes with the PSETradex facility which should further trading convenience for our clients,” Ang noted.
“The online and mobile PSETradex will also open new opportunities for offshore investors to have immediate and direct access to our market. We applaud the PSE for having this vision and providing us with a gateway to better serve this market segment,” Ang added. - Rappler.com