The local bourse has officially launched BA Securities Online as the first broker to offer the services of the online trading platform developed by the Philippine Stock Exchange.
This trading platform, called PSETradex, will enable trading participants to give their clients access to real-time market information and trading capabilities through an Internet-based facility.
“The launch of the PSETradex is a very welcome development. We view this as a new opportunity to tap into the retail investing market not just locally but especially offshore such as China, Hong Kong and Singapore,” said BA Securities Inc. President Bryan Lao Ang in his speech during the bell ringing ceremony of the launch on Monday.
For his part, Hans Sicat, PSE president and chief executive officer, said that PSETradex is an initiative of the exchange that aims to boost interest in the country’s stock market, specifying that it has an “obvious course of action to meet our [PSE’s] goal of expanding the investor base in the stock market.”
“Against our peers, our retail participation rate indeed lags behind. This is the reason why we believe that expanding the online trading capability of our brokers can become a potent strategy to have more Filipinos invest in the market,” Sicat added.
With PSETradex, the PSE expects the number trading participants with online trading services to grow in the coming months, which is also expected to support the increasing preference of retail investors to trade online.
Besides web-based trading management system, PSETradex will soon have a mobile component which will allow brokerage firms that will utilize this trading solution to offer wireless market applications to their clients.
Madelaine B. Miraflor