HSBC has launched a new online trading platform, enabling its retail customers in the UAE to trade shares and exchange traded funds on major stock exchanges in real-time.
The trading platform is integrated into the HSBC UAE Personal Internet Banking portal, meaning customers will be able to conveniently and securely manage their accounts, savings and investments in one place.
Accessible to the bank’s eligible1 Wealth and Personal Banking customers in the UAE, the digital platform enables investors to manage their equity securities portfolio 24/7 and submit orders with real-time execution2. HSBC’s customers will also have access to live market data streams on the platform.
Dan Robinson, Head of Wealth and Personal Banking at HSBC UAE, said: “I am delighted that we have launched our online trading platform. We know that our customers expect to be able to manage all their banking needs online, from anywhere in the world. They are now able to submit real-time trades with access to global exchanges and live market data, and I have no doubt that they will recognise the speed and ease of trading that this new platform provides.”
The platform provides access to stock exchanges in the United States (New York Stock Exchange and Nasdaq), United Kingdom (London Stock Exchange) and Hong Kong Stock Exchange, which together cover around 60 per cent of capital markets across the globe.
HSBC UAE customers also have access to other investment products outside of the platform, such as bonds and mutual funds. HSBC Wealth customers are able to meet with their Wealth Relationship Managers to discuss their financial goals and create a plan to achieve them.
1 An eligible customer must have an investment account opened with Pershing (Channel Islands) Limited, which is a Jersey registered company. HSBC Bank Middle East Limited, UAE Branch (HSBC UAE) will facilitate opening this account.
2 All orders submitted on the online trading platform will be received by HSBC Bank Middle East Limited, UAE Branch (HSBC UAE) as the customer’s agent and transmitted by HSBC UAE to HSBC Bank PLC in the UK for execution, as broker.
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HSBC in the MENAT region
HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Turkey (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates. In Saudi Arabia, HSBC is a 29.2% shareholder of Saudi British Bank (SABB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom.
This presence, the widest reach of any international bank in the region, comprises some 350 offices and around 9,500 employees. In the year ending 31st December 2019, HSBC in the MENAT region made adjusted profit before tax of US$ 1,611m.
© Press Release 2020