Hello all!
Since I started my investment journey, I have always been planning to open a Standard Chartered Online Equities Trading account for my investment needs once I am qualified for a CDP account (in less than a year’s time now) as I recall that Stanchart OETrading Account provides the lowest commission fees the last I researched. However after the recent news of it shutting down its global equities business, which is a major change, it obliged me into re-researching about its business again…
In summary:
- StanChart will be closing its institutional cash equities, equity research businesses and cease offering capital markets services, such as initial public offerings, in attempt to save costs amounting to at least US$400 Million this year (US$100M coming from closure of equities business)
- StanChart has handled several local IPOs including OUE Commercial Trust, Frasers Hospitality Trust and Keppel DC Reit
- The closure would be likely to limit growth of StanChart as a private bank
- Discussions are ongoing if ...
