Coherco launches online platform using PSETradex

MANILA, Philippines - Another brokerage firm has started offering the Internet-based trading platform of the Philippine Stock Exchange (PSE).

In a statement, the operator of the local stock exchange said Coherco Securities has launched its online trading system, CohercoTrade.ph,  that runs using PSETradex.

“The PSE is now realizing its goal of enabling trading participants to provide online trading options to their investors,” said PSE president and CEO Hans B. Sicat.

“This development also bodes well for online investors as they now have more online brokers to choose from,” he added.

Coherco Securities is the second brokerage firm to offer PSETradex, next to BA Securities Inc. that launched its online trading system in late August.

PSETradex, a web-based trading management system, will allow users to trade shares of stocks, monitor the order status, manage their stock portfolio and gather relevant information using their own computers or smartphones.

In 2011, online investor accounts surged 48.4 percent to 52,750 from 35,559 in 2010 as more brokerage firms offered online trading capabilities.

PSETradex is a service provided by the PSE to brokerage firms who want to offer a web-based trading platform to their clients without having to develop their own online trading facility.

The PSE’s online trading system aims to entice 40,000 to 50,000 new online investors in the next three years.

To date, brokers like AB Capital Securities Inc., COL Financial Group Inc., BPI Securities Corp., RCBC Securities Inc. and Accord Capital Equities Corp. offer online services.