CSX developing app for securities trading
A new online trading platform is being developed to spur interest in Cambodia’s sleepy stock market by allowing traders to access the exchange remotely via software compatible with smartphones, a bourse spokesman said yesterday.
Lamun Soleil, director of market operations at the Cambodia Securities Exchange (CSX), said that the platform was being developed with technical assistance from the Korea International Cooperation Agency, and would be launched this year.
“We plan to have the platform operational within this year, but I can’t give an exact date when we will launch it,” he said.
Soleil explained that the online platform would allow traders to conduct trades and get real-time stock market data on their computers, laptops or mobile handsets.
“A lot of Cambodians have access to smartphones, and we hope this will encourage more trading,” he said. “It will make it easier to trade and all company and stock market data will be on one platform.”
He added the smartphone app would also serve as an educational tool for new or prospective investors.
“It is important that Cambodians learn how the market functions, how to trade and to become better educated because more people are willing to learn about the stock exchange,” he said.
Launched in 2011, the CSX has four listed companies: Phnom Penh Water Supply Authority, Grand Twin International, Phnom Penh Autonomous Port and Phnom Penh Special Economic Zone.