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Hong Kong Investors Get Direct Access To US Equity And Options Markets

Mary Swire, Tax-news.com, Hong Kong

12 September 2000

Hong Kong investors, for the first time, have direct access to the US equity and options markets now that Interactive Brokers (IB), a member of the Timber Hill Group in the US, is offering US equities and options to Hong Kong residents for only US$0.01 per share (US$1.00 minimum) and US$1.95 per contract for options. Interactive Brokers was the first firm to offer retail investors direct "interactive" access to the Hong Kong Futures Exchange, and was recently awarded the "Best Online Broker" title by InvestMove.com for its reliability, quality of service and low rates.

According to IB's Asia Pacific Managing Director David Friedland: 'Investors in Hong Kong can now have direct split second access to US equity markets. In fact, with our Trader Workstation, an investor can trade on the Nasdaq or the New York Stock Exchange faster than they can place an order in the Hong Kong stock market. Furthermore, with IB's competitive pricing investors can now buy 100 shares of IBM or Microsoft and pay only US$1.00 in commissions. Options contracts are also priced at an unbeatable $1.95 per contract.'

Friedland added: 'Most brokers offer Internet trading via a web browser, which in many cases is nothing more than glorified e-mail. Some other brokers offering reduced commissions are hiding the fact that they are selling the order to a market maker who does not execute the trade at the best available price. IB, on the other hand, does not engage in payment for order flow and offers best execution technology. The technology scans competing US equities and options markets, listed on exchanges and ECNs (electronic communications network), on a continuous basis and automatically routes orders directly to the best price, placing the investor on a level playing field. In addition, Friedland commented, 'through IB, users can interact with the market and place orders directly with the exchange or ECN. And even more important than the speed of execution is the significant savings that can be made due to price improvement.'

IB customers apply for an account through the IB web site at www.interactivebrokers.com. IB has direct electronic links to New York Stock Exchange and American Stock Exchange listed stocks; Nasdaq and the leading ECN platforms for Nasdaq issues; listed equity and index options and major futures products. For international markets, IB's network has a direct interface to major exchanges in the United Kingdom, France, Germany, Belgium, Austria, Switzerland, Sweden, Norway, Netherlands, Spain, Italy, Australia, Hong Kong and Canada.

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