HSBC has opened up online trading access to private banking clients in Asia as part of a $ 100 million investment in its core banking and digital platforms over the next two years.
HSBC Private Banking has launched its online trading platform in Asia, according to a statement, opening access to 10 financial markets including Hong Kong, Mainland China, Singapore, Japan, Philippines, Australia, United Kingdom , the United States, Germany and France.
“Technology is redefining wealth management, providing greater access, flexibility and control over the management of investments on a global scale,” said the APAC regional manager of HSBC Private Banking Siew Meng Tan.
Online trading platform
The current offering will include cash equities and exchange traded funds before expanding to listed warrants and bullish redeemable contracts (CBBC), spot and currency futures, structured notes, non-complex funds. , dual currency instruments and fixed income securities by 2022.
Clients can buy and sell securities during market hours with a trade maximum of $ 2 million per trade and $ 10 million per day.
A dedicated support team will provide 20 hours of coverage per day during the opening hours of each market.
According to Tan, the private bank will seek to invest $ 100 million over the next two years to build and innovate its core banking and digital platforms.
Earlier this year, HSBC announced that it plans to invest more than $ 3.5 billion over the next five years in its wealth management and personal banking unit, which includes private banking.
HSBC Private Banking has already made various upgrades over the past two years, including a new online banking application; integrated and direct communications with customers; an investment and research platform with personalized alerts; and instant messaging.