HSBC Global Private Banking today announces the launch of Online Trading for Structured Products in Asia. This new feature enables private banking clients in Asia2 to trade Fixed Coupon Notes on their mobile phones, alongside Cash Equities, Exchange Traded Funds (ETFs) and Foreign Exchange (FX) which are already available on the platform. Support for Equity Linked Notes will be added later in 2022.
Clients now have direct access to trade Structured Products via mobile with coverage for underlying stocks across eight markets including USA, Hong Kong, Singapore, UK, France, Germany, Japan and Australia.
Fixed Coupon Notes available online are created and priced (via open architecture) daily by the Structured Products desk, giving clients access to timely investment ideas with an intuitive interface. A dedicated Digital Client Services team is on hand to provide support 20 hours a day, Monday to Friday, across each market’s opening hours.
Siew Meng Tan, Regional Head of HSBC Global Private Banking, Asia-Pacific, said: “We are extremely encouraged by our clients’ uptake of our online trading capabilities. Currently, over 30 per cent of execution-only trades in Asia are completed online, around two-thirds of our clients are digitally engaged, and the numbers continue to grow. This shows that the digital tools and journeys we are developing are really resonating with our clients across the region. Soon, we will also enable clients to structure their own investment ideas under our open architecture framework in real-time with support for Equity Linked Notes (ELNs) coming later this year.”
“Our clients want convenience, flexibility, simplicity and personalisation in the way they interact and bank with us. We are committed to investing in our digital transformation to complement our investments in people, thereby bringing together the best of both worlds in a truly hybrid model,” Tan added.
Investment into digital
HSBC Global Private Banking is investing USD100 million over a two-year period to build and innovate its core banking and digital platforms to meet the fast-changing wealth needs of its clients.
Over the past three years, HSBC Global Private Banking has launched its new internet banking application, incorporating direct client communication via instant messenger “GPB Chat” to allow more seamless client engagement, “GPB eSignature” enabling clients to sign and exchange documents electronically, and its world-class investment knowledge and research platform “Insights & Research Portal”, with personalised alerts and notifications to keep clients abreast of key events relevant to their portfolios.