Charles Schwab to offer mobile stocktrading

Charles Schwab, the US-based discount brokerage, is pressing ahead with plans to offer Hong Kong residents secure stock trading over WAP-enabled mobile phones.

By Toni Clarke

April 23, 2000

Charles Schwab, the US-based discount broker, is pressing ahead with plans to introduce online stock trading over mobile phones to Hong Kong residents by the end of June. The company is teaming up with Hong Kong mobile phone operator SmarTone and Swedish handset and technology company Ericsson to introduce a secure mobile phone stock trading service using WAP wireless application protocol technology.

Of Hong Kong's 6.8 million residents, just over half use mobile phones. As the choice of WAP-enabled phones increases and the technology becomes more sophisticated, Schwab expects 90% of its Hong Kong customers to trade over their phones. Already, more than 90% of Schwab's customers trade online via computer,...

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