SBG Secuirities reaps from investing in Online Share Trading
Online stock trading has helped cut costs for SBG Securities, formerly CfC Stanbic Financial Services. CfC Stanbic was rebranded to SBG Securities in order to align its stock and securities business across different markets. In 2010 CfC Stanbic had launched the online stock trading platform for offering easy accessibility to stockbrokerage services, convenient and secure system in which to manage investments, and as a means by which traders would access quality research and investment information. Through Online Share Trading Investors can securely place, modify or cancel their orders accordingly or even view order histories and current status in a real time. The highly secure and encrypted platform protects investor information and transactions.
Speaking during the rebranding ceremony, the company’s Chief Executive Officer Mr. Nkoregamba Mwebesa attributed the impressive half year financial results to efficient cost management which he emphasized partly resulted from the introduction of an Online Share Trading platform. Online Share Trading offers cost cutting benefits for brokerage firms by enabling investors to buy/sell stocks from any part of the world thereby eliminating the need to establish branches everywhere.
Through online trading, individual investors are given the opportunity to cut costs as they no longer have to pay extra brokerage fees given that online share trading fees are generally fixed. The investor also has the leeway of making instant decisions as the s/he monitors the stock performance by the second. Diaspora investors particularly have the chance of participating in the local stock market and trade in real time just as those within Nairobi. Encouraging diapospora population to invest in the stock market directly is key as they have been identified as an important part of the society that can contribute immensely to the growth of the eoconomy. “Kenyans abroad [now have] a chance to directly play a part in nation building through meaningful investment,” said the Chief Executive.
Advantages that online share trading offers enabled SBG Securities increase their clientele base to over 5000 investors that use the online trading platform. “Our platform has made it easier and more convenient for our customers to stay in touch with stock market movements and to manage their share portfolios from the comfort of their own homes or offices or wherever they are,” said Mr. Mwebesa.
To buy/sell shares through the OST platform, one can register his/her CDS account here.