sfc draws up rulebook for Internet securities trading
Article Abstract:
The Securities and Futures Commission will issue guidelines for the trading of securities on the Internet by the end of September. The guidelines include the procedures to set up a brokerage business on the Internet and the placement of advertisements. With the Internet securities trading service, investors can issue instructions to their brokers via the Internet. Confirmation by investors can either be done through the Internet or by phone. *
Comment:
Hong K: Securities & Futures Commission will issue guidelines for trading of securities on Internet by end of 9/98
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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" get tough " on settlements
Article Abstract:
The Government has decided to enforce the T+2 rule strictly. Brokers would get penalties if they fail to settle their positions in 2 days after trade. However, Hong Kong Securities Clearing Co. (HKSCC) could not implement the T+2 rules as time lag between Hong Kong, London and other financial capitals. The government might improve the transaction system by computerisation so that all transactions would be settled continuously. *
Comment:
Hong K: Govt decides to enforce T+2 rule strictly, wherein brokers would get penalties if they fail to settle 2 days after trade
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Firms lined up for $7.8b investment
Article Abstract:
The US-based Prudential Securities may invest HK$7.8 bn via its securities joint venture with Standard Chartered Bank into Hong Kong and mainland companies. Over the next 12 months, the investment will be in the form of either equity investments or venture capital. The joint venture is believed to be looking at companies involved in real estate, consumer products, high-technology, telecom media, health-care and energy. *
Comment:
Plans to invest HK$7.8 bil via its securities joint venture w/ Standard Chartered Bank into Hong Kong & mainland companies
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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