Midas touch
Trasy Gold Ex, an online platform for precious metals trading, has reported that daily trading volume has surged to between 20,000 and 30,000 ounces of gold contracts, from 10,000 ounces early this year.
Executive director Keith Chan Kee-chee (above) said the gold market had become more active this year amid improving sentiment. The firm now has at least seven corporate traders, including international banks.
Retail traders using the Trasy platform pay a levy of US$40 for a trade of 500 ounces and corporate clients get a discount as an incentive.
Mr Chan said Trasy was facing fierce competition from banks and brokerage houses that offer retail clients commission-free trading.
But he added that increasing activity in the gold market had helped reduce the company's net losses, to $3.44 million for the six months to June this year from $5.95 million for the same period last year. Mr Chan hopes that Trasy's shares, suspended from trading since June 2003, will resume trading on the GEM board before the end of the year.
