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Waterhouse set for SAR operation

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United States-based on-line brokerage TD Waterhouse plans to start a Hong Kong stock-trading operation early next month.

The company had tentatively set November 8 as the start-up day, TD Waterhouse (Hong Kong) managing director Caren Buck said.

The firm would add Internet and wireless trading early next year, she said.

The company received approval to buy a stock exchange seat in August.

Meanwhile, Charles Schwab, the world's largest on-line brokerage, said its SAR operations had received approval for a stock exchange seat earlier this month.

'We plan to launch trading in the first half of next year,' Josephine Lam of Charles Schwab (HK) said.

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