HSBC Invest Direct have upped the stakes in the share trading battle with the introduction of a mobile phone share trading service.
The service, WAP Trader, uses Wireless Application Protocol (WAP) to transmit the information to WAP enabled devices such as mobile phones.
The service will provide secure access for clients to Internet information and share trading using the highest levels of security currently available in Australia.
HSBC senior public affairs manager Colin Nethercoat says this
HSBC Invest Direct have upped the stakes in the share trading battle with the introduction of a mobile phone share trading service.
The service, WAP Trader, uses Wireless Application Protocol (WAP) to transmit the information to WAP enabled devices such as mobile phones.
The service will provide secure access for clients to Internet information and share trading using the highest levels of security currently available in Australia.
HSBC senior public affairs manager Colin Nethercoat says this is not a new service but rather a new channel to access the InvestDirect product.
“It uses the same infrastructure as for the other access channels and it provide further flexibility and convenience for those who would like to trade this way,” Nethercoat says.
The new service will, like the existing Invest Direct services – PhoneTrader, NetTrader and the client call centre, offer straight through processing direct into the Australian Stock Exchange (ASX). Nethercoat says this means the average trade time is about 10 —15 seconds, even through the wireless devices, and that speed was not an issue.
The service will also allow clients to check stock prices on all ASX listed companies, execute buy and sell orders and receive confirmation on trades. Accounts, margin lending facilities and share portfolios details will be available as will be the ability to track market movements and create stock watch lists.
As an extension of an existing service Nethercoat says the prices will be those normally charged per trade plus those charges for WAP facilities levied by phone service providers.
Currently HSBC InvestDirect charges $24.20 for the first five trades and then $11 per trade beyond that on a monthly basis
The service will not be tied to any network but users will need to be registered with the service and have a WAP enabled mobile phone.
