Cash Online, the Hong Kong-based online brokerage and trading services company of financial services group Celestial Asia Securities Holdings Limited (CASH), aims to attract those investors "on the go" by launching a new software tool which will enable its 13,000 registered users to buy and sell shares directly via a Wireless Application Protocol (WAP) mobile phone or a handheld computer fitted to a wireless modem.
PocketPC users will be able to us In-Trade, a Cash Online service which allows customers to access real-time stock quotes and trade securities and commodities listed on Hong Kong exchanges via the Internet.
The new software is not the first innovation from Cash Online, which hopes to list on Hong Kong's Growth Enterprise Market later this month or in early November. The company launched its online Initial Public Offering (IPO) services to its clients before HSBC and other leading banks. The IPO service includes online subscriptions and short messages for upcoming IPOs. Internet trading clients can subscribe online by typing their desired number of shares. The subscription will be directly debited from their accounts, and investors will receive confirmation via e-mail. The service also plans to notify its mobile phone investment service clients of the IPO through a short message system. Their clients can then call a hotline to subscribe to shares.
Cash Online managing director Ken Khoo says that the company is not concerned with competition from HSBC as 'their service is targeted to the upper income group such as the PowerVantage users'. He added that Cash Online didn't want to take the whole maket, claiming it already held a 30 to 40 per cent market share in online securities trading. He referred to main competitor Boom.com as 'a service targeted to expats, whereas we are pursuing a different strategy which reaches more people.'
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment