A Singapore-based brokerage has launched what it believes is the first online trading platform for US stocks in regular Asia workday hours.
Phillip Securities, the brokerage arm of PhillipCapital, said 38 US-listed equities and exchange-traded funds (ETFs) would be available for trading during Asian market hours, through both the web and mobile app platforms.
The US Asian Hours platform would make Phillip the first brokerage firm in Asia to offer market-making service for US equities and ETFs during Asian market hours, said Hitoshi Shimoyama, a Phillips executive director.
Since July 19, investors across Asia have been able to make transactions from 9am-5pm Singapore time.
“Clients will have an earlier and longer trading window to make transactions, the opportunity to be more responsive to market movements, and have the peace of mind to have confirmation of their transactions during Singapore day-time hours,” Shimoyama said.
The minimum size of transactions on the US Asian Hours platform will be $20,000, he added.
- George Russell