US-based online broking giant E*Trade announced earlier this week that it was continuing its expansion in the Aisa-Pacific region, bringing personal online financial services to individual investors throughout Hong Kong. E*Trade Hong Kong is the fourth E*Trade branded web site in the region, following launches in Australia, Japan and Korea.
E*Trade first entered the Hong Kong market with its September 1999 acquisition of TIR Securities Ltd, an institutional broker. The newly-launched E*Trade Hong Kong offers equities and warrants trading on the Hong Kong Stock Exchange with flat fee pricing.
Paul Menzies, general manager of the Asia-Pacific operations and chief global insurance officer of E*Trade Group, said in a statement: 'The launch of E*Trade Hong Kong is an integral part of our global strategy to serve our customers in diverse markets, while better positioning the company for future growth and profitability in these markets to benefit our shareowners. As the number of individual investors continues to grow in markets worldwide, we're poised to provide localized, seamless and integrated products and services.'
Based on a forecast in the
2001 Computer Industry Almanac, almost 173 million people in the Asia-Pacific
region will go online this year, causing the region to surpass North America
(including Canada) in real Net population
numbers for the first time. The Almanac also predicts that by 2003 the Asia-Pacific
region will account for 37 percent of the world's online population, with approximately
305 million Net users.
Mathias Helleu, managing
director of E*Trade Hong Kong, commented: 'E*Trade's fully electronic model,
which has operated successfully through the E*Trade branded web sites around
the world, is now available in
Hong Kong....It's our mission to empower Hong Kong investors with actionable
content, tools and education to help them achieve their financial goals. With
our flat fee price structure, powerful information resources and sophisticated
call center, we're providing outstanding opportunities in this dynamic market.'
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