[THE INVESTOR] Samsung Securities will launch a brokerage service on Taiwan-listed securities for institutional investors in a partnership with KGI Securities, the second-largest brokerage in Taiwan.
According to Samsung Securities, the two companies signed a memorandum of understanding to cooperate on strengthening their brokerage businesses and expanding equity research coverage at KGI Securities’ headquarters in Taiwan on July 28.
“Samsung Securities will expand its footprint to the entire Asian region by forging more partnerships to offer various global investment options to customers,” an official at the firm said.
From Aug. 1, investors can order stocks listed on the Taiwan Stock Exchange with a minimum quantity of 1,000 shares. Online stock trading will be available from September, the firm said.
The two plan to work together on investment banking services and pursue cross selling of their products.
The Taiwan Stock Exchange lists over 900 companies with a combined market capitalization of 950 trillion won (US$844.81 billion).
By Park Han-na (hnpark@heraldcorp.com)