Stockbroking's newcomer says, 'I'm cheaper'

1. What do you think was the most significant thing that happened this week?

A new low-cost retail stockbroking service from fund distributor iFast Corp may not affect interest rates around the world, or set off privatisation rumours, or add fuel to a prominent political and family dispute, but it is emblematic of disruption at the very heart of Singapore's financial ecosystem.

iFast on Friday launched a brokerage service through its FSMOne platform that offers commission rates of 0.12 per cent for stocks and 0.08 per cent for exchange-traded funds, subject to a S$10 minimum.