Smartphone trading a part of online shift

SET joins Samsung in launching Android app

The stock market is gearing up the development of a smartphone trading application to keep up with booming trade via the channel, which now makes up 5.2% of total internet trading value.

The Stock Exchange of Thailand (SET) predicts the figure could grow to 6%.

In the first eight months of this year, the internet accounted for 26.8% of total trading volume on the SET, up from 24.5% for all of last year.

It made up 34.2% of total trading on the Thailand Futures and Exchange (TFEX), up from 32.1% last year.

Pakorn Peetathawatchai, the SET's chief marketing officer, said the figures also show more than half of retail investors traded online, making up 52.8% of total retail trading volume, up from 49.3% last year.

"Trading by smartphone and tablet is growing fast from only 0.02% of total online trading over the past four years when online trading has just begun, to 1.1% in 2010 and 3.3% last year," said Dr Pakorn.

The SET together with Thai Samsung Electronics has developed a stock trading app on smartphones and tablets. Yesterday, it launched the Settrade Streaming for Android app, which can be downloaded for free at Samsung outlets.

The app will be made available on Google Play, the internet marketplace for Android devices, next January.

"Online trading via smartphones and tablets may double this year from last year," said Dr Pakorn.

Investors not only trade stocks but also use apps to manage their investment.

Somkiat Chinthammit, the founder and chief executive of Wealth Management System, the software developer that provides wealth management programs for institutional customers, is introducing a free mobile app for retail investors.

"Customers are shifting to doing online transactions, and the number of users will grow rapidly from now on," he said, citing information collected in seven months after the soft launch of the website.

This marks the first time the company enters into the retail segment. The app can check risk profiles, make asset allocation suggestions and lists top-five mutual funds and IPOs for investors.

He said the potential growth in the business-to-business or institutional customer segment of the company is quite limited after it controlled more than half of the market.

About the author

Writer: Darana Chudasri
Position: Business Reporter