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  • Dec 23, 2014
  • Updated: 10:16am

Investing Online

Liberty Reserve founder among seven charged over US$6b laundering scam

Preet Bharara, United States Attorney for the Southern District of New York, describes charges against Costa Rica-based Liberty Reserve, one of the worlds largest digital currency companies. Photo: Reuters

The founder of an online currency transfer business was indicted in the United States along with six other people in a US$6 billion money-laundering scheme described as "staggering" in its scope, authorities said yesterday.

Wednesday, 29 May, 2013, 2:50am 1 comment

Chat while you trade: Introducing the world's first online social network investing site

Mathias Helleu (left) and Mikaal Abdulla of 8 Securities. Photo: Paul Yeung

Hong Kong is one of the world's financial capitals, but how about a leader in financial technology? A home-grown brokerage is well on its way to making the latter true. Named by Amazon last year as one of the top five start-ups in Asia, 8 Securities defines itself as a "social stock-trading service".

7 Jan 2013 - 9:57am

Will our time spent on social media become of value in its own right?

The Instagram logo is displayed on a tablet on December 20, 2012 in Paris. Photo: AFP

I was recently posed this question: "The most important way in which the internet and online social media are changing our world is [fill in the blank]." My standard answer is that it changes the balance of power between individuals and institutions. But this was a sophisticated audience of economists and students.

31 Dec 2012 - 2:19pm

Into Christie's digital future

Steven Murphy says book publishing and music taught him to keep up with fast-changing consumer behaviour. Photo: Dickson Lee

Steven Murphy, the first American appointed as chief executive of Christie's International, hails from two old-line businesses: book publishing and music, both of which have faltered as the globe has gone digital.

26 Nov 2012 - 2:24am

HSBC online investor service out for 82 minutes

HSBC's online banking investment services in Hong Kong broke down for an hour and 22 minutes yesterday, leaving some retail investors frustrated.

16 Apr 2010 - 12:00am

Online trading is a moving experience

Some modern-day executives are constantly on the move. They can be away from home 100-plus nights a year on an international circuit of office visits and high-powered client meetings, or may be part of that elite group that hops from one city to the next every couple of years at the behest of a multinational employer or simply in search of new challenges.

23 Nov 2007 - 12:00am

Brokers find high-pressure job has its compensations

Handsome commissions will come to those who survive industry consolidation

There were more than 800 securities brokerage firms in Hong Kong before the Asian financial crisis. Since then, the weakening financial market has accelerated the industry's consolidation.

Now about 400 securities firms operate in the market.

13 Sep 2003 - 12:00am

Brokers clash on commission cap

Traditional and online brokers will discuss the removal of the minimum commission fee on Saturday when they meet Financial Secretary Antony Leung Kam-chung.

Secretary for Financial Services Stephen Ip Shu-kwan, after the Securities and Futures Commission conference yesterday, said the meeting would give brokers a chance to present their contrasting views.

30 Oct 2001 - 12:00am

New lobbying body creates voice for Internet brokers

More than 10 local online brokers have teamed up to form the Hong Kong Association of Online Brokers to allow Internet brokers to voice their concerns.

The association, to be launched tomorrow, will lobby Hong Kong Exchanges and Clearing (HKEx) to reduce the mandatory fees charged to customers of online brokers for the provision of stock quotations.

20 Aug 2001 - 12:00am

Discount deals lure investor assets to online brokerage

An asset transfer scheme has helped SHK Online - the Internet arm of Sung Hung Kai Financial Group - increase its online client asset base 37-fold in the past two months, according to chief executive Douglas Chen Waihuen.

'We have seen many European and American private banks' customers move their assets to our firm since the launch of the scheme seven weeks ago,' Mr Chen said.

30 May 2001 - 12:00am

Online broker thinks big with fixed fees

E*Trade, the world's third-largest Internet broker, has introduced low-priced online trading in Hong Kong targeted at traditional brokers' clients.

E*Trade Hong Kong will charge a flat commission of HK$130 per trade.

Traditional brokers charge 0.25 per cent of the value of a trade.

4 Apr 2001 - 12:00am

Online broking tally sets fast growth pace

The volume of online stock-trading in Hong Kong grew 13-fold last year, prompting the Securities and Futures Commission (SFC) to introduce more regulations on brokers' Internet trading activities.

In November, 13 per cent of stock-trading was done through the Internet, compared with just 1 per cent in April, according to SFC senior director Barbara Shiu.

2 Jan 2001 - 12:00am

Brokers go online

Nine more stockbrokers will offer online trading services from Friday, bringing the total trading online to 49.

12 Dec 2000 - 12:00am

Coming to a screen near you

The good news for couch potatoes is that real-time stock trading is now available via your television in the comfort of your home.

10 Dec 2000 - 12:00am

Bumps on launch into Internet trade

The roll-out yesterday of online trading at Hong Kong Exchanges and Clearing was relatively successful but not without some hiccups, according to brokers.

Of 32 brokers who used the service, two said some trades were slow, forcing them to switch to manual input.

11 Nov 2000 - 12:00am

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