Online trading technology provider Uni-Top is lining up strong broker partners in Hong Kong and China for the impending launch of its wireless applications in the second half.
The company has agreed a letter of intent with local online brokerage 2cube Securities, a joint venture of Chase JF and Pacific Century CyberWorks, for provision of its wireless trading platform to the firm.
A similar alliance is expected to be forged with Galaxy Securities, China's largest brokerage with a share capital of 4.5 billion yuan (about HK$4.2 billion).
Under such an alliance, Uni-top will provide wireless technology enabling allied brokers to provide services via handheld devices such as mobile phones and personal digital assistants [PDAs].
In return the company will charge brokers a fee on a per transaction basis.
Chairman John Gilbertson said a feature that differentiated the company's technology from other providers' was its emphasis on PDA applications, which he predicted to be another popular channel for online trading.
'The population of [people with] PDAs in Hong Kong is about 300,000. [We estimate] something like 60 per cent of these people are active in the stock market,' Mr Gilbertson said.