You are here
Credit Suisse sees trading boost from year-old digital platform
Credit Suisse on Thursday said it has seen the overall value of trades doubling on its digital platform in the past few months, with strong trading activity in the US market, as more clients adopt its mobile application.
The Swiss bank said the digital private banking platform, which was first launched in Singapore a year ago, will be rolled out to the Hong Kong booking centre. The app has already been extended to clients in markets such as Indonesia, Malaysia, China, Taiwan, and Philippines.
Client here used the app the most at 10am and 10pm Singapore time. In terms of their trading activities, the highest total value of trades were made in the US stock exchanges, followed by Japanese and German stock exchanges.
"Some of our clients who usually place trades via their relationship managers are now trading global equities directly on the digital platform anytime at their convenience. In fact, we have seen the overall value of trades doubling on the digital platform in the past few months, as more clients are now using the app," said Young Jin Yee, Credit Suisse's market group head Singapore, private banking.
"Based on the feedback we have received from our relationship managers and the discussions they have had with clients, the digital platform is able to provide clients with immediate access to a comprehensive overview of their portfolios anytime during the day, this helps to open up their investment perspectives to look beyond their traditional investment horizon, broaden their asset allocation and geographies."
The app offers functions such as a portfolio risk analyser, which allows clients to proactively track their risk exposures across all their portfolios. They can simulate how their portfolios might have performed during the major past events such as Black Monday of 1987, Asian Financial Crisis of 1997 and Global Financial Crisis of 2008.