The bank claims it is the first in the region to allow high net worth clients to trade fixed coupon notes on smartphones, with equity-linked notes up later this year.
The Asian business of HSBC's Global Private Bank launched online trading capabilities for structured notes in Asia, according to a media release sent by the bank on Monday.
The feature allows private banking clients to trade fixed coupon notes on their mobile phones, with support for equity-linked notes to be added later this year.
The same platform already allows for similar trading in cash equities, exchange-traded funds (ETFs), and foreign exchange, with clients having direct access to stocks in the US, Hong Kong, Singapore, UK, France, Germany, Japan, and Australia.
Open Architecture
The fixed coupon notes will be created and priced using open architecture every day by the bank's structured products desk, with a digital client services team providing support 20 hours daily from Monday to Friday.
HSBC's regional head of private banking, Siew Meng Tan, said the bank is encouraged by client uptake of online trading.
«Currently, over 30 percent of execution-only trades in Asia are completed online, around two-thirds of our clients are digitally engaged, and the numbers continue to grow,» Tan indicated.
Significant Investment
The bank's private banking business is investing 100 million US dollars over a two-year period to further innovate its core banking and digital platforms. In the past three years, it has launched a new internet banking application, allowed for direct client communication through an instant messenger tool (GPB Chat) and given the clients the ability to sign and exchange documents electronically. It also provides tailored alerts and notifications to clients on key events related to their portfolios while providing access to internal investment and research.
