DFNN Inc. said on June 23 it launched a platform for stock brokers expected to support the Philippine Stock Exchange’s move to shut down its physical trading floor and move to all-digital trading.
The company said its unit, iWave Inc., has introduced the “Next Wave Interactive Broker Platforms and Systems.” DFNN describes this as a “comprehensive digital stock trading platform with complete back office, customer relationship, digital marketing and secure identity solutions.”
The company added the platform allows trading participants and retail investors alike to maximize stock trading activities via an “end-to-end” integrated system that will expand and make inclusive market participation thereby accelerating the growth of the capital market.
“Currently, some of these technologies are already used by top online brokers,” the company said.
The said system was developed in collaboration with longtime technology partner Direct International Financial Network Pvt. Ltd.
“With the cooperation of the PSE, ‘Next-Wave’ was presented to its trading participants, receiving very positive feedback,” the company said.
Its platforms and systems serves all broker and retail investor requirements from a digital standpoint for trading, settlement and back office processes such as accounting, billing and includes multiple newer fintech and payment solutions designed to quickly execute trades. Processing is done real time, improving payment velocity and reducing friction, the company said.
According to DFNN, “Next Wave” is available on a subscription basis, allowing trading participants to manage use and cost, depending on certain custom and growing requirements.
“The retail channel of the trading platform is designed to leverage the untapped market consisting of young professionals and first-time investors who are starting to learn and navigate the intricacies of the stock market,” it said.
The company said iWave built the Philippines’s first automated trading platform, which was implemented at the trading floor of the PSE in 1993. Even today, iWave’s technology components are used by the Philippines’s largest online stock brokerage firms by daily volume transactions.