CSX Trade app aims to modernize securities trading

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The Cambodia Securities Exchange (CSX) is holding a soft launch ceremony for the CSX Trade app on Tuesday. CSX

The Cambodia Securities Exchange (CSX) held a soft launch ceremony for the CSX Trade app on February 22, which aims to provide customers with a more modern and user-friendly platform to trade securities.

Available for free for devices running Android and iOS 12.0 or later, the app is based on CSX’s Mobile Trading System (MTS) launched in 2018.

During the ceremony, CSX CEO Hong Sok Hour said that the application was developed entirely by the exchange operator’s own technical team, integrating the main functionalities of the MTS – a web-based system – but with the addition of security features, a special design and server capacity to increase speeds.

“Of course, we cannot expect perfection from a first app, but we expect improvements and greater efficiency through continuous development…the initial launch is very important for testing and measuring capabilities.

“Taking this opportunity, I would like to ask all investors to download the app. Try it out and let us know your feedback so that we can improve it before the official launch, which is scheduled for May,” he said. he declares.

Sok Hour said the app would help ease the burden on stockbrokers and other market participants, especially in their training stages.

At the same event, Deputy Managing Director of the Securities and Exchange Regulator of Cambodia (SERC), Seang Thirith, said the MTS has significantly reduced wasted time and investment opportunities in the field, and eliminated many barriers to investing in CSX. .

Although the MTS now accounts for 96% of local securities transactions, the web-based system still lacks flexibility and may cause some inconvenience, he said. Thirith expects CSX Trade to mitigate these shortcomings and broaden the horizons of the Cambodian stock market.

“Modernization and digitalization require a lot of innovation, inclusion and creation, and market players should not be afraid to take the first step, small in scale but with a long-term vision, and should hasten to meet market demand,” he added.

According to Sok Hour, the average daily trade value on the CSX rose from around $15,000 in the mid-2010s to nearly $160,000 in 2019, before declining slightly in 2020 due to pressure from the global crisis. Covid-19.

He noted that these records were shattered in 2021, with figures exceeding one billion riels – or more than $270,000 – representing an increase of up to 127% from 2020 levels.

The total number of orders placed on the market last year soared to nearly 500,000 orders – a 32-fold increase from 2017 – 99% of which were fulfilled through MTS, he said.

By the end of 2021, the number of user accounts on the MTS stood at 17,207, or 55.6% of the total 30,956 trading accounts, he added.

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