The Philippine billionaires behind Jollibee Foods Corp. and chicken BBQ chain Mang Inasal are betting that their next big thing could be in stock broking. Know more:
The Philippine billionaires behind Jollibee Foods Corp. and chicken BBQ chain Mang Inasal are betting that their next big thing could be in stock broking.to develop an online trading system as they sought to tap the explosion of retail investors that went online during the pandemic.
Currently, about a third of the 125 brokers in the country offer online trading facilities. However, most of them do not provide customizable layouts. Existing dominant players are also mostly running on outdated technology, according to DragonFi CEO and co-owner Jon Carlo Lim. Online trading accounts have grown in recent years as traders seek more flexibility and control over their investments during the Covid era. Based on latest exchange data, they made up more than 70 percent of the 1.62 million stock trading accounts in 2021, compared to just 39 percent of the 773,187 accounts in 2016.
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