The Cambodian Securities Exchange (CSX) on Tuesday announced the soft launch of its new Mobile Trading System (MTS), a move that would allow investors to trade listed securities from their smartphones.
The company said the official launch of the platform will occur next Monday.
CSX Deputy Director General Jong Weon Ha on Tuesday said the MTS will help to boost the amount of trading in Cambodia with its secure and fast service.
To use the MTS, investors must have a valid trading account with a broker who is already a CSX member and has been registered with it to provide the service. It is being offered free of charge for the first year.
The mobile platform was developed with support from the Korean International Cooperation Agency (KOICA).
At the end of last year, there were around 9,200 investors registered with the Securities and Exchange Commission of Cambodia (SECC). In total, they made an average of 15,000 transactions per day, valued at about $15,000.
There are currently five companies listed on the CSX, three of which are state-owned enterprises.
Proeun Panhery, who is looking to start up a digital tourism platform, welcomed the news and said her team would submit an application for financing from the new company.
“This is an opportunity for us because we don’t have enough resources to make [our project] happen. I will take my team and business idea to Ooctane.
“The most important aspect is that Ooctane will be with us, train us and build up and strengthen our business operations so that we can reach our goals,” she said.