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BANKING TECHNOLOGY | Tony Chua, Hong Kong
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HSBC launches online US Stock Trading Services

Service available online, over the phone and via iPhone with flat $18 per transaction brokerage fee.

HSBC on Monday announced the launch of its new US Stock Trading Services available online, over the phone and via iPhone. With real-time market information and comprehensive third-party research, customers can trade US stocks online for a competitive USD18 flat brokerage fee for the first 1,000 shares of each transaction, according to an HSBC report.

Francesca McDonagh, HSBC’s Head of Personal Financial Services in Hong Kong, said: “With the global economy recovering gradually, Hong Kong investors are looking for more diversified investment opportunities to capture higher potential returns in different markets. As Hong Kong’s most popular service provider in online wealth management, HSBC is committed to providing customers with one-stop banking and financial services.” 

The potential to diversify and grow an investor’s portfolio in US stock markets is unlimited. The US stock exchange is the world’s largest with approximately 5,100 listed companies compared to the 1,300 on the Hong Kong Stock Exchange. With a market cap of USD15 trillion, the US stock exchange is more than 6 times the size of the Hong Kong Stock Exchange (USD2.3trn).

Bruno Lee, HSBC’s Regional Head of Wealth Management Asia-Pacific, said: “HSBC’s new US Stock Trading Services provide customers with access to US stocks through the flexibility of internet banking and phonebanking. The new services offer our customers, especially in the middle and high-end segments, a streamlined and effective avenue to invest in the US stock markets. The platform will also provide clients with the benefit of comprehensive US market information, including real-time stock prices as well as market news and commentary enabling them to make informed investment decisions.”

Customers can trade US stocks via HSBC Stock Express, its user-friendly proprietary online platform in three simple clicks. The one-stop service combines banking and stock trading services which allows customers to conduct seamless account transfers, foreign exchange and Hong Kong and US stock trading in a secured 24/7 environment. The brokerage fee for online US stock trading is USD18 per transaction for up to 1,000 shares and USD0.015 per additional share thereafter.

Until 17 December 2010, customers who successfully open or upgrade to new HSBC integrated account will benefit from a brokerage fee waiver for both local and US stocks transactions via Stock Express within the first 30 days of account opening or upgrade. Existing HSBC integrated account holders can also benefit from a US stock trading brokerage fee waiver of up to HKD5,000. Customers who successfully transfer in their eligible stock portfolio throughout the promotion period, including local and US stocks, can benefit from a 0.1 per cent rebate with a cap of up to USD1,000.

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