Cambodia Stock Ready for Trading Online with Investors Open Accounts Projected to Almost Double In 2024

10 November 2023
Local News
1922 Views

Cambodia’s Securities Exchange is experiencing a remarkable surge, with the number of trading accounts growing by an impressive 31% year-on-year. As of the end of Q3 2023, the total reached a substantial 43,974. This significant growth is a testament to the nation’s burgeoning interest in the stock market, according to the Cambodia Investment Review update on 26 October 2023.

Behind this surge is a collaborative effort between the Securities and Exchange Regulator of Cambodia (SERC) and the Cambodia Securities Exchange (CSX). Together, they have embarked on a revolutionary new venture – an API Linkage on Investor ID Online and Trading Account Opening Online.

This groundbreaking API linkage is set to redefine the trading experience. It simplifies and expedites trading account openings, all while offering investors a seamless and efficient platform to apply for both an investor ID and a trading account. Once an investor’s information is reviewed by a securities firm, the trading account is instantly activated, allowing for immediate deposits and trading. This Online Account Opening Platform is on track for a soft launch in early November 2023, with an official introduction slated for the My First Stock Exhibition on 16 November 2023.

HE Hong Sok Hour, CEO of CSX, voiced his enthusiasm for the burgeoning Cambodian securities market. He projected a remarkable 40% increase in new trading accounts for 2023, with the number expected to almost double in 2024, adding between 30,000 to 50,000 fresh trading accounts. He sees the current market as a “golden opportunity” for investors to enter due to relatively low stock prices.

Chairman of the SERC, HE Sou Socheat, unveiled that this online trading account initiative is part of the Royal Government’s Pentagon strategy. Under the leadership of Samdech Moha Bovorthipadi Hun Manet, the Prime Minister of Cambodia, this strategy is modernising the securities sector. Notably, they’ve already launched Investor ID Online and the CSX Trade securities trading app, enabling cash transfers through a mobile app. The upcoming official introduction of the online trading account opening platform further exemplifies Cambodia’s rapid modernisation in the financial sector.

As the doors to online trading swing open, Cambodia’s stock market is set to flourish, attracting a new wave of investors keen on capitalizing on the nation’s financial potential.

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