- Ready to take off as Global Fintech Broker -
Finansia Syrus Securities Public Company Limited. (hereafter Finansia Syrus) announced that it signed the License Agreement with Kiwoom Securities Company Limited (hereafter Kiwoom), a brokerage firm in South Korea on January 24th.
The license is providing Kiwoom's outstanding online stock trading system (Home Trading System and Mobile Trading System), which has been proven to be the most advanced system in Korea, to Finansia Syrus Securities. It is a long term cooperative relationship that is formed with Finansia Syrus through provision of license and not a mere export of trading platform solution. The fact that technology and know-how of Kiwoom, the number one broker in terms of market share for 11 consecutive years, is provided.
Thai brokerage market has high potential for growth as more companies are listed and trading value rises. It already has high participation from retail investors (56.34%of trading value in 2015) and has relatively high average daily trading value. In such active market, Finansia Syrus is a retail based broker, which recorded third in terms of market share in 2015 and 2016. The terms of such cooperation will continue for 15 years.
Kiwoom's newly developed next-generation version of system will be provided to Finansia Syrus under this license agreement. The new HTS 'Hero_4' and MTS 'Hero_S,' launched in July, 2014, has been well received for its strengthened system convenience and contents accessibility by adding specialized functions to the former version.
In Korea by leading online brokerage market through combination of finance and IT technology, Kiwoom already proved its specialty and superiority in IT technology for finance.
The cooperative relationship is expected to bring out successful outcome as it is formed between the first broker in Korean stock market and the third broker in Thai stock market. Whether Kiwoom will be able to generate Hallyu in IT technology field for finance is to be noted.
Just as Kiwoom succeeded in leading the stock market with its innovative HTS and MTS, Finansia Syrus in Thailand is expected to gain foothold to become the first leading broker by generating innovative changes with the help of Kiwoom's technology.
Kiwoom explored the possibility to fully localize the product through ISP(Information Strategy Planning) process in advance. Currently, Kiwoom is expecting successful result through customization which will be carried out soon.
Mr. Yong Won Kwon, Chief Executive Officer of Kiwoom Securities said "As a broker leading in IT technology and Fintech, this Agreement is more meaningful as Kiwoom's competitiveness has been recognized globally, beyond Korea. As we localize our know-how as number 1 broker for 11 consecutive years, we stand to demonstrate the excellence in Kiwoom's system even in Thailand.
Mr. Chuangchai Nawongs, Chief Executive Officer of Finansia Syrus Securities Public Company Limited said "The introduction of HERO online trading platform will bring about a major advancement to Thailand's securities market and will empower retail investors with state of the art technology."