OCBC throws wrench in iFast's stockbroking plans
iFast's new FSMOne platform hits snag when counterparty OCBC Securities stops providing connection to SGX
Singapore
ONLINE investment products retailer iFast Corp learned on Friday that if it wants to use a Singapore stockbroker's services to attack that stockbroker's bread-and-butter business, it should expect a fight.
iFast's new FSMOne platform hit a snag on Friday when counterparty OCBC Securities inexplicably stopped providing a connection to the Singapore Exchange (SGX). That disconnection came one day after iFast introduced a stockbroking service that allowed users to trade Singapore-listed shares and exchange traded funds (ETFs) at relatively low commissions.
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