Investors can trade securities without having to route their orders manually through intermediaries
OCBC Securities, a wholly-owned subsidiary of Singapore-based OCBC Bank, has announced that it will add direct market access (DMA) connectivity to 7 additional foreign securities exchanges in the financial markets of China, Indonesia, Thailand and the US by end of September 2009.
Reportedly, the clients can trade directly through its trading representatives and/or iOCBC, bank’s internet trading platform into securities exchanges. It has said that the investors can trade securities on the various exchanges without having to route their orders manually through intermediaries such as local central dealing desks or foreign brokers as trading orders are electronically routed.
The added securities exchanges are: American Stock Exchange (AMEX); Australian Securities Exchange (ASX); Bursa Malaysia (BURSA); Hong Kong Stock Exchange (HKEX); Indonesia Stock Exchange; National Association of Securities Dealers Automated Quotations (NASDAQ); New York Stock Exchange (NYSE); Shanghai Stock Exchange (SSE); ShenZhen Stock Exchange (SZSE); Singapore Stock Exchange (SGX) and Stock Exchange of Thailand (SET).
Moreover, OCBC Securities plans to introduce multi-currency share financing services by the fourth quarter of 2009, to offer investors trading in foreign equities leveraging opportunities in currencies such as AUD, HKD and USD that their securities are denominated in.
Hui Yew Ping, managing director of OCBC Securities, said: “Increasingly, investors are looking beyond the local market place for investment opportunities. It is therefore vital that we offer them an efficient and resilient trading platform, to help them capitalise on market opportunities whenever that may be. Today, our customers have the option of trading in multiple global markets as well as access to a direct custody network offered by a global custodian.”