Jardine Fleming Group and Cable & Wireless HKT could buy up to 10 per cent of an Internet-based financial-research firm as part of their $30 million bid to start the first pan-Asian on-line stock trading service, according to a source.
If the deal pushed through, the SAR's Asia Strategic Investment Management would provide research reports to be distributed through the new trading service, expected to be launched next month, the source said.
'They [Jardine Fleming] want to brand themselves in the US as Asian experts,' he said.
Douglas Hansen-Luke, Asia Strategic's managing director, said: 'We are in negotiations with several parties in Hong Kong, Korea and Europe.' The joint-venture on-line brokerage is expected to be the first to allow individuals to buy and sell securities in most big Asian markets.
Asia Strategic operates Typhoon Eight Research and CyberTank Daytrader, with software to help find and track stock picks.
'The rumour is the Jardine Fleming and Cable and Wireless joint venture are to provide CyberTank content for their Web site,' the source said.
