Settrade to spend bht40 million on online and mobile information services

Settrade to spend bht40 million on online and mobile information services

Thai trading portal Settrade is to invest Bht40 million on developing online trading and mobile information services in 2004.

Settrade says it wants to expand its Internet trading system to be quicker and more stable so as to cope with an expected 100% increase in its on-line investor base.

Settrade CEO Wittaya Watcharawittayakul, says: "Settrade has set a target of acquiring 10,000 new on-line accounts."

He says Settrade spent Bht10 million on online investor services in 2003 and was rewarded with a 321% increase in online trading value to Bht100,203.

In mobile information, Settrade already offers SMS Stock Info to check the latest figures from the SET index and share prices through the Short Message Service (SMS). Currently, the service receives almost 200,000 requests every month and this figure is expected to double in 2004. The company also offers mobiSet, which allows users to select and receive information on their 30 favorite stocks.

Says Watcharawittayakul: "Wireless applications have begun to play a major part in our daily lives and their role is expanding."

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