Locally listed Tai Fook Securities has lined up four Asian counterparts in a bid to form a cross-border on-line trading network.
The four are Japan-based Aizawa Securities, Taiwan's Capital Securities, South Korea-based Dongwon Securities and regional investment bank Japan Asia Securities Group.
Under the alliance, the five will link their on-line trading systems allowing customers to trade in overseas markets through the network and settle with the participating firm in their domestic market.
The companies claimed they had an aggregate of 800,000 clients in the region with a combined daily trading volume of about US$600 million.
However, on average only 7 to 8 per cent of this came from on-line trading, said Japan Asia Securities Group managing director Tetsuo Yamashita.
'We expect [through the proposed network] the figure could be doubled by the end of the year,' Mr Yamashita said.
