Melbourne, VIC ? Australia?s fastest growing online stockbroker OpenMarkets today announced several initiatives to strengthen its offering in the Asian markets.
OpenMarkets has experienced growing demand from Asian brokers, intermediaries and retail investors to access and invest in the Australian markets, particularly as an increasing number of Asian companies seek to list on ASX and NSX.
Last month ASX announced it has increased its marketing to offshore companies for new listings after attracting a range of new companies, including many from south-east Asia. According to ASX, Australia has developed a compelling reputation for capital raisings worth between $50m and $500m, an attractive proposition for companies that would struggle to get noticed in larger markets such as the US.
|OpenMarkets launches APAC services with:
??Simplified Chinese web trading platform
??Simplified Chinese live-streaming mobile app
??Mandarin, Cantonese and Malay speaking sales and support desk
??International banking solution
??Dedicated website openmarkets.asia and WeChat page
??IPO support (online trading solution for shareholders)
OpenMarkets CEO Andrea Marani said, ?OpenMarkets has had strong demand from brokers and investors in Asia; the increasing number of companies listing in Australia generally look for an online trading solution, empowering shareholders to support the listing.
?We see this as a significant area of opportunity; there is substantial unmet demand to trade Australian stocks from Asian investors. Our strategy to access this market is through strategic intermediary alliances across Asia, such as banks, brokers and wealth management firms.?
?This ability will be highly beneficial to those offshore companies that list in Australia ? they can now promote themselves to investors in a range of jurisdictions.?
OpenMarkets has understood this opportunity for some time; it has an APAC sales team and support desk, with Mandarin, Cantonese and Malay speakers, who have been focused on servicing Chinese investors living in Australia through OpenMarkets partnership with BMY Group. It also has a dedicated website in simplified Chinese and WeChat presence.
Last month OpenMarkets launched an intermediary banking solution to support the demand from Asian investors; Asian-based clients generally cannot open Australian cash management accounts, which are required to settle trades.
It also provides a simplified Chinese web platform and mobile app, and is developing an online account opening form that will access a Chinese national database to electronically verify identification and streamline the account opening process.
?This is a significant step towards extending our services into the APAC region and supporting the increasing demand for access to Australian markets. Our technology platform will be further enhanced by the addition of trading services into leading global markets via additional multi-currency trading systems through the course of the year,? said Marani
– ENDS –
For more information please contact:
Communications Manager, P 03 8199 7702 firstname.lastname@example.org