Press Room
Hong Kong brokerage community introduces secure, real-time, and wireless stock trading with Palm handhelds
Secure, real-time, wireless stock trading minimises manpower and improves processing time
September 10, 2002 - Palm, Inc. (Nasdaq: PALM ) today announced
that 16 Hong Kong brokerage firms have seen improved productivity
of 80% and increased customer satisfaction since the "mBroker"
solution was implemented in April by Heracle Technologies
Ltd. The Palm OS® based solution provides brokerage firms
and individual investors with a customisable, secure trading
platform where stock information can be remotely accessed,
and stock trading activities can be transacted from Palm™
handhelds.
Heracle's "mBroker" is backed by Mobile e-Cert security
of Hongkong Post, and is the world's first and only wireless
digital certificate for community wide use. "mBroker"
employs a PKI technology developed by Diversinet Corp. to
provide a highly secure, encryption-protected platform to
ensure that all transactions are authenticated before they
are processed. (Diversinet Corp. is also a recent addition
to the Palm Enterprise Alliance Program, which is a strategic
initiative launched in January 2002 to offer integrated handheld
computing solutions based on the Palm OS platform to enterprises
in Asia Pacific.)
With "mBroker", investors whose orders are placed
via their Palm handhelds will see the order information encrypted
and sent to Hongkong Post's Certificate Authority server for
identity verification. Thereafter, the information is passed
through the Hong Kong Exchanges and Clearing Limited's Order
Routing System gateway to the designated brokerage firm's
system for subsequent processing. Such a transaction now takes
an average of six seconds to complete. This compares favourably
to placing an order via a phone call to a stock agent, which
takes approximately one minute to complete; an 80% improvement
in productivity. Transaction with "mBroker" omits
the need to call an agent and reduces the probability for
mistakes such as data entry errors or orders overlooked by
the agent. "mBroker" solution helps brokerage firms
to sharpen their transaction efficiency, and freeing up agents'
time that can be channelled into other revenue generating
activities such as contacting investors to offer additional
investment advice.
Wireless transactions to change the face of stock trading
in Hong Kong
"This solution has certainly modernised the way the stock
trading industry conducts its business in Hong Kong and helps
brokerages stay competitive. Agents can now focus on providing
value-added personal investment consultation to their customers,
as opposed to spending time re-inputting data for order-processing,"
said Mr. Andy Yeung, operational manager of GLS Securities
Limited.
"With wireless security features such as user/server
authentication and digital signatures, this solution provides
investors with a peace of mind as they now know that they
are transacting in a secure, trusted environment backed by
the local authorities," said Mr. Terence Chau, vice-president,
Asia-Pacific at Diversinet Corp.
"From a deployment point of view, this solution requires
minimal investment, with no software or hardware requirements
from the participating brokerage firms. Customers only need
to subscribe to the mBroker service to enjoy the convenience
of stock trading anywhere in Hong Kong, " said Mr. Angus
Tam, business development manager at Heracle Technologies
Ltd.
"We have once again set another industry precedent, by
showing how Palm solutions can be used to deliver on a vertical
sector's need. By improving productivity in the investment
and brokerage communities, I'm excited to see the next level
of proactive customer service be introduced into the marketplace,"
said Cara Liao, marketing manager, North Asia, Palm, Inc.
About Diversinet Corp.
Diversinet is a leading developer of advanced wireless security
software, enabling mobile e-commerce (m-commerce) services
with its wireless security infrastructure solutions. Diversinet's
client/server security software facilitates digital signatures,
authentication and encryption with PKI products specifically
designed to perform optimally in wireless environments and
devices. In October of 2001, Diversinet enabled the launch
of the first public Certification Authority in the world to
offer mobile individual and business digital certificates
for consumer use. For more information on Diversinet, visit
the company's web site at www.diversinet.com.
About Palm, Inc.
Palm, Inc. is a pioneer in the field of mobile and wireless Internet solutions and a leading provider of handheld computers, according to IDC (2001). Based on the Palm OS® platform, Palm's handheld solutions allow people to carry and access their most critical information wherever they go. Palm™ handhelds address the needs of individuals, enterprises and educational institutions by offering the foundation for thousands of application solutions. Palm stock is traded on the Nasdaq national market under the symbol PALM. More information is available at http://www.palm.com.
Palm OS is a registered trademark and Palm is a trademark of Palm, Inc. Other brands may be trademarks of their respective owners.
