First Pacific
Bank Limited And
Excel Technology International (Hong Kong) Limited
Jointly Present The Powerful Securities Trading System
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(31 August, 2000, HONG KONG) - First Pacific Bank Limited
('FPB') and Excel Technology International (Hong Kong) Limited ('Excel '),
a wholly-owned subsidiary of Excel Technology International Holdings Limited
(stock code: 8048) are pleased to announce their agreement to present the
powerful securities trading system today.
According to the agreement, Excel will provide the InterTrade
System, including customisation and implementation services, to FPB. Coupled with
FPB's extensive business network and customer base, the two companies will
jointly present the powerful securities trading system which is fully ready
for the AMS/3 system's arrival.
Equipped with the new System, FPB will enhance its scope
of services to include Internet and mobile phone share trading and other value-added
features under its iFirst Banking service to the customers.
James Ng, Managing Director of FPB, said, "The trend
of Internet and mobile phone trading is imminent in an increasingly competitive
environment. The purchase of
InterTrade System forms part of our ongoing commitment in IT investment to
support e-commerce initiatives and facilitates us to provide online share
trading services. It also marks
another milestone for our continuous development of iFirst Banking project. With the implementation of Hong Kong Exchange's
AMS/3 later this year, our customers will be able to trade stocks via the
Internet and WAP devices through the new system in an instant yet secured
manner."
"By choosing Excel as our partner, we can tap the best
technology and team up with a reliable and innovative e-solutions
provider who has solid business knowledge to meet all our requirements. Utilising the InterTrade, FPB can deliver
more efficient and sophisticated services to customers even in days of hectic
transaction volume. We believe
customers will benefit as a whole from faster turnaround time in stock trading,
more real-time market information and further improved account services with
the new system in place," Mr Ng said.
Commenting on the agreement, Peggy Chan, Chairman and CEO
of Excel, said, "Banking and finance have long
been one of the Group's focus of development and a sector where we outperform
our peers. Prestigious banks
and financial institutions choose our products for their efficiency, adaptability,
security, our meticulous care to details and excellent after-sales services.
In expectation of AMS/3's implementation, online securities trading
is bound to bloom and our InterTrade System will be in keener demand than
ever. This represents an excellent opportunity for Excel to expand
its business both in breadth and in depth. FPB is one of the most progressive banks in developing online
trading and we are very happy to team up with a company which shares our vision,
and we are pleased to see that their customers can trade any time at any
place. ."
InterTrade or Integrated Securities Trading System is a new
generation securities processing system designed to help securities companies
of all sizes to cope with the straight through securities processing requirements,
such as real-time customer position checking, margin monitoring and credit
exception alert, in an all-electronic environment. InterTrade comes with mobile trading and
Internet trading capabilities. It
accepts orders from various input channels in different forms and it interfaces
with other systems which process these orders.
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