BANGKOK, NNA - Japan's GMO Internet Inc. is set to launch an online stock trading service in Thailand next week in a bid to capitalize on potential growth in the sector in the local market, which has the largest share transaction volume in Southeast Asia.
GMO-Z com Securities (Thailand) Ltd., a local arm of the Japanese company, which is listed on the First Section of the Tokyo Stock Exchange, is planning to serve investors through its online platform Z.com from Monday, marking its first foray into the region for the service.
Megumu Motohisa, chief executive officer of the Thai subsidiary, said the Japanese company has decided to enter Thailand as its stock market boasts the biggest regional trading volume of over 40 billion baht ($1.2 million) per day.
The Thai stock market poses a lower risk than its Singapore counterpart in which more foreign players invest, he added.
GMO-Z com is targeting the opening of 10,000 to 15,000 accounts and a trading value of 1 billion baht per day by 2018.
Among Japanese online securities brokerages, the GMO group is the second to tap into Thailand after SBI Holdings Inc., which joined the local market in 2015.
Kesara Manchusree, president of the Stock Exchange of Thailand, said the ratio of online stock trading by individual investors to total volume has surged from 30 percent to 70 percent over the past several years.
Kesara added that she expects the trend to continue and GMO's participation in the Thai market to prod more individual investors to join online stock trading. (NNA/Kyodo)