World’s heavywight stocks now directly tradeable in SA
South African investors will for the first time from today (19 July 2010) be able to invest and trade directly in some of the world’s heavyweight shares like Warren Buffett’s Berkshire Hathaway, Coca Cola, the fast foods giant MacDonald’s or Steve Jobs’ Apple via a local South African internet platform.
This follows development work by PSG Online, one of the country’s most established internet based share trading platforms. PSG Online does business as a separate entity under the PSG Konsult banner.
The extension of PSG Online’s stare trading platform is the result of a partnership which PSG Konsult concluded in 2007 with one of the world’s leading share and commodity traders, ADM Investor Services. The partnership provided South Africans with the opportunity to buy and sell offshore shares directly from recognised exchanges.
This process has now been streamlined to make it more direct and in real time, providing PSG Online’s clients direct online access to 15 European and American stock markets with the option to invest in these markets’ listed companies.
PSG Online CEO, Corrie de Bruyn, said major interest, especially for truly direct electronic trading of offshore shares via the PSG Online website, prompted PSG Online to enhance the share trading platform.
“The online trading of about 26000 European and American shares is now available in South Africa for the first time in the same manner in which local clients would trade shares, CFD’s or single stock futures on PSG Online’s web site.
“This means that investors would at any time be able to check on the status of their offshore share portfolio and trade online, as is the case with local share investments. In the same manner investors would have the option to select on which stock market - London or New York, for example - or in which currency a transaction should be concluded.
“Clients can make use of their own foreign investment allowance or of PSG Online’s asset swop allowance.
"This means that a South African investor will now be able to do share trading 24 hours a day in local and offshore shares,” De Bruyn said.
