WITH Cebu’s robust economic growth and a fast-growing regional gross domestic product, a financial services group has set its eyes on Cebu’s still “untapped” market through its online stock market brokerage firm.
UniCapital Securities Inc. recently launched UTrade, which offers online Philippine Stock Market brokerage allowing anyone to participate in the country’s vibrant stock market.
They see the online network as a very effective means to encourage more Filipinos especially the young professionals to try and invest in the stock market, said Avelino Cruz Jr., UniCapital Securities Inc. chairman.
“Cebu has a very young population with a fast growing GRDP (gross regional domestic product) and we think that much of the market still needs to know about how they can multiply their wealth in the stock market,” Cruz said.
Similarly, it also further helps the economy as the listed companies rely on the stock market for sustainable source of funds that they can invest to further grow their companies and create more jobs for the Filipinos.
According to UTrade president Leonardo R. Arguelles, Jr., there are only 15,000 accounts coming from the Visayas region which includes Cebu.
“That number is very small compared to the accounts in Luzon especially in Manila that is why we will be focusing our growth here in Cebu,” said Arguelles adding they have setup an office within the PSE office in Cebu located at the Insular Square in Cebu Business Park.