News

HSBC rolls out trading platform for UAE investors

A new digital trading platform has been unveiled by HSBC UAE which will enable retail investors in the UAE to deal in shares and exchange-traded funds on major exchanges. The platform will be available to the bank’s eligible wealth and personal banking customers via its Personal Internet Banking Portal. The exchanges linked to the platform include the Hong Kong Stock Exchange, London Stock Exchange, New York Stock Exchange and Nasdaq which together account for 60% of the world’s capital markets. According to HSBC, users will be able to manage their accounts, savings and investments on the platform including their equity portfolio, access live market data streams and submit orders for real-time execution. “We know that our customers expect to be able to manage all their banking needs online, from anywhere in the world,” said Dan Robinson, head of wealth and personal banking at HSBC UAE. “They are now able to submit real-time trades with access to global exchanges and live market data, and I have no doubt that they will recognise the speed and ease of trading that this new platform provides.” The number of high net worth individuals (HNWIs), those with investable assets in excess of $1 million, has declined slightly in the first half of 2020 but the UAE still had more than 340,000 HNWIs as of June this year. © 2020 funds global mena

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