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Saturday, March 18, 2006
Online trading in stock market gains popularity
By Jessica B. Natad
Sun.Star Staff Reporter
The emerging trend of online trading in the stock market should prompt stock brokers and stock brokerage firms to find their niche or improve their services to remain in the industry.
According to Citisec-Online president Conrado Bate, online trading in the stock market would dominate stock trading five years from now. This would inevitably dislodge most brokers working in the industry.
“They must upgrade their services so that investors would still prefer to avail of their services than trade online by themselves,” he said on the sidelines of the general membership meeting of the Cebu Chamber of Commerce and Industry (CCCI) at the Casino Español de Cebu yesterday.
Despite this, Bate said online stock brokerage firms like CitisecOnline would help empower retail or small-time investors who have been left out of the stock market.
“Most of the time, retail investors are being left out because brokers would have to take care of big-time clients. Since the facility to trade online (has been) installed, small-time investors can trade stocks because all the information they need in making decisions are already posted on the website,” he said.
Information
Bate said CitisecOnline is now conducting information dissemination campaign outside Metro Manila, starting in Cebu, on how to trade stocks online and how to do it to widen its base outside the country’s capital.
He said some of the company’s top 10 investors are based in the Visayas.
According to a statement, online trading has leveled the playing field for stock market investors.
Control
“Online participation has allowed investors to take direct control of their investment, placing orders at their pace, at their desired price and time, relying less on a personal broker who can manually process so many orders during peak trading hours,” it said.
CitisecOnline is also offering digitized trading through the wireless access protocol (WAP)-enabled mobile phones and personal digital assistants.
CitisecOnline has been actively trading in the Philippine Stock Exchange since 1999. It launched its online trading services last year.
It has a paid-up capital of over P300 million.
For Bisaya stories from Cebu. Click here. (March 18, 2006 issue)
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