OCBC Securities, trade reps moving up value chain

Singapore

WITH commissions for equity trades facing further cuts and interest in foreign equity markets on the rise, not only must stock brokers and remisiers move up the value chain, brokerages too must look beyond commissions and generate other income streams, said Dennis Hong, managing director of OCBC Securities Private Limited (OSPL).

In his first media interview since assuming his role on May 1 last year, Mr Hong shared how the OCBC Bank-backed brokerage has been evolving in an industry staggering under the weight of a new Know-Your-Client regime, lacklustre market for initial public offerings and already razor-thin commissions from online share trading.