The Development of E-trade in the Securities Industry

• Main Authors: Anglia Huang, 黃宛玫
• Other Authors: Bor-Yi Huang
• Format: Others
• Language: zh-TW
• Published: 2006
• Online Access: http://ndltd.ncl.edu.tw/handle/00762443842026035314

碩士 === 實踐大學 === 企業管理研究所 === 94 === Abstract In July of 1997, 「Da-Shin Securities」 was the first to launch on-line trading for stocks in Taiwan. At the beginning, there were only 1,022 accounts created for on-line trading, and such "E-trading" amount is around 738 million NTD per month, which represents 0.01% of total trading market. Due to the recent improvement of information efficiency and the growing fever for on-line trading booming. Stock brokers that offer voice and internet trading increase to 73 in Jan, 2006. The number of accounts opened for on-line trading increase up to 4.14 billion, and the monthly trading amount also grows up to 1,015,800 billion, or 18.9% of the total market. All figures show that on-line trading has taken a more important position than before.　 Internet environment has grown maturely in Taiwan. The percentage of people owning PC is pretty high. On-line trading in Taiwan supposed to be more active than other countries. However, compared with 35% in Japan, 50% in USA, and 66% in Korea, the percentage of E-trading in Taiwan is only closed to 19%. Such huge gap between other countries and Taiwan shows that there are still a lot of problems in the Taiwan E-trading market waiting to be solved. This Essay will be based on the case study of ‘C Securities’. It will discuss about what practices of E-trading that C Securities’ is working on, the reason of these practices, and the effect of these practices. Furthermore, it will also discuss the issue of offering commission discount in on-line trading, and the coming problem while launching Korean trading system. I will also compare with the practices of the stock broker industries between Taiwan and US/Korea. From the study, I will propose a solution to the current challenges that Taiwan's E-trading business is facing, discuss the factors of success and fail in their practices, and give a recommendation for the future development of the on-line stock trading market in Taiwan.