Online trading platform launched
Start-up stock brokerage VC Securities Corp. yesterday rolled out an online trading platform in a bid to reach out to small investors—such as overseas Filipino workers, teachers and farmers—who are unable to benefit from the country’s robust equities market.
With the launch of VC Trade, VC Securities became the 14th trading participant at the Philippine Stock Exchange to offer online trading using PSETradex, the internet-based trading management system of the local bourse.
PSETradex allows users to trade shares of stock, monitor and manage their stock portfolio and get real-time market information. This platform is deemed as an easier and more cost-effective way for trading participants to offer online trading services without having to shell out a lot of money to develop proprietary trading infrastructure.
“Our entry to the stock market is very timely because of the vibrant economic prospect that the Philippine has,” VC Securities president Wilhemino Agregado said in a briefing after the launch of VC Trade at the PSE. He cited the influx of foreign investments into the country and the government’s plan to liberalize foreign ownership restrictions in highly regulated industries.
Incorporated in 2016 with capitalization of P110 million, VC Securities started as a traditional brokerage house. It is 98-percent owned by the family of businessman William Co who has interests in private school operation (ICCT Colleges), property development (Washington Residences) and computer and electronics accessories retailing (Comptronics).
Agregado said the next-generation Cos were the ones who persuaded VC Securities’ board to adopt an online trading platform to reach out to more people. After launching this website trading service, he said VC Trade’s mobile app would be launched in three to four months.
While VC Securities’ traditional clients currently have an average equity investment amounting to a few million pesos, VC Trade now accepts retail investors for a minimum investment of P10,000.