FSMOne web platform

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limster

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A stockbroker has to pay SGX for live data, cannot "borrow" the data from another firm. Wonder if that is the problem? SGX Live data not cheap. If iFast has to pay for live data, will it be so cheap?

Or as someone has mentioned, iFast can save cost by using the SCB no-frills "budget style SGX prices, no real-time updates.

SCB has no problems operating and in the past, their no min commission would have been even more attractive than iFast current offer - but nobody shut them down =:p
 
Asphodeli

Asphodeli

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limster said:
A stockbroker has to pay SGX for live data, cannot "borrow" the data from another firm. Wonder if that is the problem? SGX Live data not cheap. If iFast has to pay for live data, will it be so cheap?

Or as someone has mentioned, iFast can save cost by using the SCB no-frills "budget style SGX prices, no real-time updates.

SCB has no problems operating and in the past, their no min commission would have been even more attractive than iFast current offer - but nobody shut them down =:p
Click to expand...

yeah i think it's a case of they went with the wrong vendor? but then again, I think their live feeds is from another company, but the executing brokerage is OCBC Securities.
 
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uncle168

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i think iocbc didn't tell its market data vendor it was feeding fsm hence the vendor told iocbc to stop

fsm has to sign an agreement with the market data vendor and pay a fixed amount for the live feed

customers of brokerages don't have to pay for live sgx feed
 
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uncle168

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no wonder fsm can start brokerage so fast

backend use iocbc

keekeekee
 
Sinkie

Sinkie

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Average said:
now we know how big a cut is ocbc earning from trading commisions

secondary agent ifast can still earn money from 0.12% min $10. ocbc first agent 0.275% , $25 can earn...

Sent from 穷小子 using GAGT
Click to expand...

How you compare? Is ifast using the same platform as ocbc? Does ifast has their own research team? Ifast can contra?

Is like comparing ComfortDelGro taxi and uber
 
Sinkie

Sinkie

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i think ocbc is their counterparty for ifast, providing direct market access for ifast for testing and development and etf access?

so lets see how long they can last with this commission structure once they become a clearing member in sgx, and have their own vendor for platform and feeds

Mancunian2 said:
does it mean this platform is dead in the water?
Click to expand...

As an appointed counterparty, OCBC Securities acted as a middleman to execute and settle SGX stock and ETF trades for FMSOne.

The Straits Times understands the platform was to be given a notice period of three months before OCBC Securities turned off the connection to the SGX, but it happened in just one hour before the market opened yesterday.

Mr Lim said earlier this week that SGX trades were routed through a counter party and iFast had already applied to be an SGX trading member to trade on the local bourse. It hoped to become a member next year, subject to relevant approval.

iFast added that "it will be a matter of time before FSMOne resumes the availability of SGX stock and ETF trading to investors".
 
Sinkie

Sinkie

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Mancunian2

Mancunian2

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Singaporeans are at a disadvantage in our own backyard

interactive brokers comms for SG stocks is only 0.08% , minimum $2.50
but Singaporeans not eligible
 
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