HSBC Private Banking Launches Online Trading Platform in Asia
HSBC Private Banking recently announced that it has launched its Online Trading platform for private banking clients in Asia. The new feature in HSBC Private Banking's investment service is designed specifically to connect high net worth and ultra-high net worth clients with the latest market opportunities and offers trading access to 10 key financial markets including Hong Kong, mainland China, Singapore, Japan, the Philippines, Australia, the UK, the US, Germany and France.
Clients can buy and sell securities in the 10 major financial markets during exchange trading hours and trade up to USD10 million daily, at up to USD2 million per transaction. A dedicated support team will provide an industry-leading 20 hours a day coverage, across each market's opening hours.
Siew Meng Tan, Regional Head of HSBC Private Banking, Asia-Pacific, said: "Technology is redefining wealth management, giving greater access, flexibility and control over the management of investments globally. As an award winning private bank for digital customer experience, we are excited to unveil our new Online Trading platform enabling our clients to invest directly in key equity markets globally from their mobile phones. We expect to invest over USD100 million in the next two years to build and innovate our core banking and digital platforms to meet the fast-changing wealth and lifestyle needs of our clients."
HSBC Private Banking aims to expand the range of products available on the online trading platform from cash equities and ETFs to more complex trades such as Listed Warrants and Callable Bull Bear Contracts (CBBC), FX Spot and Forwards, Structured Notes (ELN & FCN), non-complex Funds, Dual Currency Instruments, and Fixed Income by 2022.
Earlier this month, Fazzaco reported that HSBC announced the appointment of David Liao and Surendra Rosha as its new Co-Chief Executives of HSBC Asia Pacific. David and Rosha will also be promoted to Group Managing Director and will join the HBAP Board as Executive Directors. They will be based in Hong Kong, reporting directly to Noel Quinn.
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