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Mobile Money Ventures, Citibank Hong Kong Launch Mobile US Stock Trading Capability

Allows Citibank’s Hong Kong customers to trade on both the Hong Kong and American markets

Mobile Money Ventures (MMV), a global provider of mobile financial services, has launched the mobile US stock trading capability in Hong Kong with Citibank. The new feature builds on the mobile platform deployed by the two companies last year, allowing Citibank’s Hong Kong customers to now trade on both the Hong Kong and American markets, including the New York Stock Exchange and NASDAQ.

Reportedly, with all MMV solutions, the new US trading feature is secured with SMS notification for every trading instruction, and no financial information is stored on the mobile device. MMV has said that initially it was collaborated with Citibank to launch a mobile banking platform in Hong Kong last October which included local stock trading, portfolio management, account inquiry and management, transfer and payments, and time deposit applications

Jayastu Bhattacharya, senior vice president of strategic business development at MMV, said: “At MMV, we are constantly working to innovate and develop cutting edge features to ensure our customers can take advantage of the most advanced technology available. With our customizable and scalable platform MMV can quickly and seamlessly bring to market solutions that meet our customers’ needs.”

Maggie Yung, country marketing director of Citi Hong Kong, said: “At Citibank, the needs of our customers drive our innovation efforts and we understand how important it is for our Hong Kong customers to trade multiple markets through multiple channels. Through the collaboration with MMV, we’re proud to be the first bank in Hong Kong offering a mobile US stock trading service.”