OCBC Securities Is First In Singapore To Offer iPhone Mobile Trading
OCBC Securities Private Limited (“OSPL”) announced May 7 that it is the first brokerage in Singapore to release an iPhone application that allows its customers to monitor stock prices and execute trades directly from their iPhones.
iOCBC TradeMobile, a free iPhone application, allows investors to trade on the go, offers faster connectivity and overall improved user experience compared to browser-based mobile trading services. Investors trading via the application have access not just to the Singapore Exchange, but also to 13 foreign securities exchanges including Bursa Malaysia, the Hong Kong Stock Exchange (“HKEX”), National Association of Securities Dealers Automated Quotations (“NASDAQ”), and New York Stock Exchange (“NYSE”) among others.
iOCBC TradeMobile was launched today at OSPL’s investor seminar, organised to offer insights into investment opportunities in the U.S. equities markets. Close to 500 investors, who attended the seminar, witnessed a live demonstration of trading in the U.S. equities market via iOCBC TradeMobile.
They were also able to download and try out the application on the spot. iOCBC TradeMobile is the latest mobile trading service to be introduced by OSPL. Investors now have a choice to trade on the move using their GPRS /3G enabled mobile phones or iPhones.
Mr Hui Yew Ping, Managing Director of OCBC Securities shared, “When we first launched the browser-based mobile trading service more than three years ago, investors could only trade direct on the Singapore Exchange, and we saw usage grow steadily by about 15% each year. We obtained feedback from our customers on how we can improve this service; there is definitely demand for more features and a more intuitive trading portal. With the proliferation of more affordable Smart Phones and lower-priced data plans, coupled with Singapore’s continued push to extend broadband access to public places through its Wireless@SG initiative, we anticipate more investors will use this channel to trade.”
He added, “As global markets continue to evolve, investors are presented with different investment opportunities across countries and markets. Since extending our direct market access network to 11 key exchanges in September 2009, we have seen our monthly trade value in these key securities exchanges rise by more than 50%. As a result, we feel it is timely to introduce iOCBC TradeMobile as it gives investors greater control over their investments since they can now effectively capture market opportunities on the go, as long as they have their iPhones.”
OSPL’s foreign equities trade value has grown by more than 40% since it first introduced its proprietary electronic trading platform offering investors direct market access to the three foreign stock exchanges in Australia, Hong Kong and Malaysia in 2007. As for U.S. equities trade value, it has grown by about 18 times.
With the new iOCBC TradeMobile, investors interested in trading in foreign markets such as US and Europe can do so with greater ease. Using their iPhones, they can now monitor the markets and execute their trades whenever these markets are in session. They are also no longer confined to their desktops or notebooks as iOCBC TradeMobile provides all the key functionalities and features that can be found on iOCBC (OSPL’s internet trading platform).
Users of iOCBC TradeMobile can be assured that all transactions conducted through iPhones are secure. iOCBC TradeMobile leverages on the existing iOCBC internet trading platform’s security features that include end-to-end encryption of any information transmitted via the portal.
Unlike a browser-based mobile trading platform, the new iOCBC TradeMobile provides investors with a comprehensive suite of interactive features that includes:
1. Trading access to 14 local and foreign securities exchanges;
2. Access to the Top 20 Counters in terms of volume, gainers and losers in all 14 securities exchanges;
3. Access to various Sectorial and Market Indices as well as the latest price quotes in all 14 securities exchanges;
4. Ability to manage and monitor their favourite stocks using the Watchlist function;
5. Ability to search and locate the various stocks listed in all 14 securities exchanges; and
6. Ability to check the latest status of their trade orders and a view of past orders up to six days.
OSPL customers can use their existing iOCBC ID and Password to access their trading accounts using iOCBC TradeMobile. Investors can download iOCBC TradeMobile at iPhone App Store