Financial service firms want own platform
The Securities and Exchange Commission said more financial service providers have signified their intentions to launch their respective stock trading features.
In a televised interview on Monday, Commissioner Kelvin Lee disclosed that about two to three platforms have reached out to the SEC for this purpose.
These platforms, according to Lee, are following the move of the Ayala-backed mobile e-wallet GCash to roll out a new feature by year’s end that would let users conveniently trade stocks to encourage more investors to venture into the equities market.
The feature — powered by AB Capital Securities and in collaboration with The Philippine Stock Exchange, Inc. — will help uncover the market’s digital potential.
Buy and sell shares
Dubbed as GStocks, the feature lets users buy and sell local shares in real-time, monitor pending trades; monitor portfolio performance and returns via a dashboard; access the stock watch list, direct research reports, real-time quotes, and live stock charts.
Likewise, it will give them access to analytics, news, disclosures, and daily and weekly market reports.
“There have been other entities, other portals that have been reaching out to us now and also making similar submissions. It looks like that’s something we can look forward to,” Lee said.
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