Firm inks deal with Ke­nanga to form on­line eq­uity bro­ker­age

New Straits Times - - Business - FRAN­CIS DASS KUALA LUMPUR bt@me­di­aprima.com.my

JAPAN-BASED Rakuten Se­cu­ri­ties Inc is con­fi­dent in cap­tur­ing be­tween 20 and 30 per cent of Malaysian re­tail in­vestor mar­ket for Rakuten Trade Sdn Bhd, its on­line plat­form, within three years.

The com­pany yes­ter­day inked a 50:50 joint ven­ture with Ke­nanga In­vest­ment Bank Bhd to form on­line eq­uity broking firm Rakuten Trade.

The RM30 mil­lion ven­ture saw Rakuten Se­cu­ri­ties and Ke­nanga In­vest­ment Bank each pump­ing RM15 mil­lion into Rakuten Trade.

The new on­line stock trad­ing com­pany launched its trad­ing ap­pli­ca­tion, iSpeed.my yes­ter­day.

iSpeed.my will em­power re­tail in­vestors to be­come traders and will charge the most com­pet­i­tive rates in the mar­ket, said Rakuten Trade manag­ing di­rec­tor Kaoru Arai at the me­dia brief­ing.

Arai said the ap­pli­ca­tion is the first app tar­geted at smart­phones in the mar­ket that al­lows for the on­line open­ing of trad­ing ac­counts Cen­tral De­pos­i­tory Sys­tem ac­counts; and al­lows for the app to act as a fi­nan­cial por­tal, giv­ing in­vestors ac­cess to sim­pli­fied re­search ma­te­ri­als and re­al­time mar­ket in­for­ma­tion and en­able cash trans­fers.

Rakuten Se­cu­ri­ties pres­i­dent Yuji Kusunoki said that Rakuten brings to the deal its front-end ex­per­tise (app, tech­nol­ogy, web se­cu­rity) while Ke­nanga brings its ex­per­tise on reg­u­la­tory mat­ters and mar­ket/bro­ker­age ex­per­tise and ac­cess.

The bro­ker­age fee at Rakuten Trade’s iSpeed for in­vest­ments amount­ing to less than RM1,000 is a flat rate of RM7; sums from RM1,000 to RM9,999 in­cur a flat rate of RM8; RM10,000 to RM100,000 a rate amount­ing to 0.10 per cent of the sum; and RM100,000 and above is a flat rate of RM100.

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