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Monday, May 19, 2014

DA Market Securities signs up for PSE online trading platform

DA Market Securities has signed up to use the online trading platform of the Philippine Stock Exchange (PSE).

In a briefing, DA Market chairman Nestor Aguila said today’s launch of iTRADE, powered by the bourse's PSETradex, will allow the brokerage to diversify its client base, which comprises mostly high net-worth individuals in Pampanga.

"Online is inherent to any stock brokerage firm in the future. Without it, you can't expand your client base," Aguila said.

With the rollout of iTRADE, DA Market is eyeing to grow its client base to 20,000 in the next three years, or a tenth of the population of Pampanga, as it attracts the younger population with investible funds of roughly P100,000, Aguila said.

DA Market hopes to capitalize on Bank of Florida’s network of 15 branches to boost its brokerage business. The group is also into education and property development.

DA Market is the fifth brokerage to sign up for the bourse's online facility after Optimum Securities, Maybank ATR Kim Eng (MATRKE) Securities Inc, Coherco Securities and BA Securities.

It took a while for DA Market to go online because the brokerage had to beef up its research capabilities, Aguiluz said.

About 10 brokers are beta-testing and are expected to introduce their PSETradex-powered sites within the year, PSE president Hans B. Sicat said.

The exchange offers PSETradex to brokerages that want to provide a web-based trading platform to their clients without having to develop proprietary facilities. This online solution will allow clients of brokers to post their orders online and directly access market data electronically.

The PSE has tapped Malaysian securities trading solutions provider N2N Connect Berhad for the local online trading platform.

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