The Stock Exchange of Thailand (SET) has teamed up with True Move to launch a new financial application called "Settrade Streaming" for iPhone users, free of charge.
Santi Kiranand, group head of SET's marketing department said the collaboration is aimed at enabling retail investors to catch up with real time market price, portfolio, and order status as well as to make trade orders easy and quick.
To be able to use "Settrade Streaming", iPhone users must have a stock trading account with brokers who have this application. First, they have to download the application from iTune store. After that they can take part in stock trading activity as is done on through a PC.
"There are 26 leading brokers who account for 90 per cent of total trading transactions," said Santi.
He said there had been a continuous increase in Internet trading transactions at www.settrade.com via mobile devices, of which about 65 per cent are from iPhone devices. This led the SET to develop a specific application to serve this user group as a complementary service with the Internet trading that they have used.
Total Internet stock trading value through Settrade.com during the eight months (from January to August) is around 20.51 per cent of total stock trading value of SET. -from total 224,842 trading accounts - increased from only 16.12 per cent of the Internet trading portion last year -from total 189,348 trading accounts-
"Settrade spent six months conceiving and working on this project with True Corp. But the application has been developed in just a month," said Santi.
Currently, there are around 220,000 Internet trading stock accounts. Settrade expects that at least one of three of these accounts will download and use 'Settrade Streaming' application by the end of this year.
"The portion of Internet trading as only 20 per cent of total stock trading means there is a big room to grow," Santi said. He added: "We expect the portion of Internet trading will dramatically increase because Internet trading will be a major and vital channel for the new generation of investors."
In the next five years, the total stock trading accounts will increase 100 per cent from the current 2 million accounts. Most of these new accounts will be Internet trading accounts.
Adhiruth Thothaveesansuk, convergence managing director of True Corporation, said that currently True Move has already deployed around 30 iPhone-based applications registered in iTune application store in three main categories - game, information and news, and utilities. "Settrade Streaming" is the newest application and is expected to be a big hit among iPhone users.
"iPhone users can apply for this service free and if they are True users they will also get free stock SMS alert service free of charge for three months," said Adhiruth.
He added that of its 30 applications, around six applications are listed among the top 10 with a total of 700,000 downloads.
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