Huatai will look to leverage its technology and data-driven mainland market know-how by targeting million of Chinese retail investors through its newly launched U.S. stock trading app.
The mobile app – Zhangle Global – is a response to the growing demand for in-depth trade data, analytics and access to international markets, according to Zhu Yali, Huatai’s Hong Kong-based head of financial technology and retail business. Such demands are increasingly replacing commission-based models with subscription-based models, Zhu added.
«The retail business is where Chinese brokerages can make a difference, as we have more experience in using fintech than Wall Street brokerages,» said Zhu, in an «SCMP» report.
«Retail brokerage is the one spot where we could potentially beat Wall Street investment banks, which are traditionally stronger in their institutional businesses.»
China Big Data
According to Zhu, Huatai’s advantage lies not only within its fintech competencies but also its strength specifically with regards to big data in China.
«The advantage we have gained from operating in China is the big data set that we have collected from China’s large population base,» she explained. «The ease of data access is crucial when we train and test the artificial intelligence models we use in our securities trading systems.»
Huatai Securities also plans to roll out trading services for U.K. and Singapore stocks this year.
