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Automated system aimed at brokers

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Automated Systems Holdings is rolling out an Internet-based share-trading system aimed at Hong Kong brokerages planning to offer on-line services.

Managing director Peter Kuo said that the company's WebStock Electronic Stock Trading System would be compatible with the third-generation automatic order matching and execution system to be introduced next year by the stock exchange.

'We are targeting not only large brokerages, but also medium and small ones, as we believe Internet trading will allow smaller firms to enhance their competitiveness and expand their operation quickly,' he said.

However, many small to medium-sized brokerages are still seen as lacking solid strategies on on-line stock trading.

'Most firms are certainly looking at their options on how they can join the Internet-trading bandwagon, but few have committed financial resources on projects,' said APC Investment Management Services fund manager Kitty Chan.

Tai Fook Securities deputy managing director Chan Wing-luk said he expected that many smaller brokerages - lacking funds to establish their own systems - would form alliances with Internet service providers to launch Web trading services.

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