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Peggy Sito

Tai Fook Securities has teamed with SmarTone Mobile Communications to develop its cellphone stock-trading service.

 The service would be launched in the first quarter this year, Tai Fook managing director Peter Wong said.

 SmarTone is the second mobile-phone operator to form a partnership with Tai Fook, after New World Telephone.

 Talks with more mobile-phone operators on similar co-operations were under way, Mr Wong said.

 Tai Fook, through its subsidiary Tai Fook On-line Services, last month introduced a trading platform compatible with Automated Matching System 3 (AMS/ 3), which allowed the firm to provide clients with three access channels - the Internet, mobile phones and interactive voice responses.

 AMS/3, a technology due to be launched by the stock exchange in the middle of the year, will provide clients with a straight-through stock-trading service.

 Apart from stock trading, Mr Wong said the group also would enhance on-line financial services such as futures trading and fund management services.

 On-line trading would account for 10 to 15 per cent of the group's revenues by the end of the year, he said.

 Mr Wong also said the company expected 5,000 clients to use on-line trading, in which it had invested more than $10 million, in the short term.

BROKING 



Tai Fook partners with SmarTone for on-line trading development