Hong Kong-based online brokerage Tai Fook Securities is to offer customers WAP-based stock trading using technology supplied by local wireless Internet applications developer Cyber On-Air.
Cyber On-Air's equities trading application, Equities On-Air, will be used by Tai Fook's customers to receive the latest stock market information and customised analysis, and to execute trades instantly, from their mobile phone.
"Today's agreement marks the 'coming of age' for wireless Internet," says Ricky Choi, founder and CEO of Cyber On-Air. "Equities On-Air is an open platform which will evolve with the adoption of 3G technology."
Equities On-Air is designed to offer users an end-to-end securities-trading environment that is independent of the mobile operator. The application uses Short Message Service (SMS) to confirm each trade via the buyer's mobile phone. Tai Fook quotes for stocks, warrants, and indices are instantly available, as are financial reports and investment news. A stock summary displays an overview of the market and the top ten market movers in different categories.
The system, which interfaces with the Hong Kong Stock Exchange's AMS/3 trading system, provides an instant alert feature using SMS technology, and offers end-to-end encryption using Wireless Transport Layer Security (WTLS).