[May 27, 2012] BLS gaining with programme trading Tweet May 28, 2012 (Bangkok Post - McClatchy-Tribune Information Services via COMTEX) -- Bualuang Securities (BLS), which provides Thailand's only automated stock trading service, has doubled this year's growth target to 500 million baht worth of assets under management. The company had earlier set a target of 300 million baht in assets under management in one year, but the goal was reached in 10 months. The firm's Bualuang iProgramTrade was launched last July to tap the niche market of high-net worth investors who are sophisticated enough to let computer programmes run stock trading. BLS has 50-60 accounts using the Bualuang iProgramTrade the at present, with portfolios ranging from 3-60 million baht. Customers say the service keeps them from missing opportunities on the way up and helps cut losses on the way down, said Bannarong Pichyakorn, the managing director for sales and trading. The automated system is currently trading orders on the SET, sending orders with a combined value exceeding 1 billion baht per day. The company has four core trading strategies determined by differences in risk appetite among investors. The minimum investment for the service is 1 million baht per one strategy per account. BLS will provide investment suggestions for a suitable trading strategy and monitor portfolios for customers. "Most investors who use programme trading are high-risk preference," said Mr Bannarong. "Thus, we will extend the programme trading service to cover the derivatives market in the second quarter to serve them." Pichet Sithi-Amnuai, the president of BLS, said the company aims to provide various products to serve each segment of customers in line with the policy of its parent, Bangkok Bank (BBL). BLS delisted from the Stock Exchange of Thailand in the first quarter this year. At present, BBL controls a 99.7% stake in the brokerage, and the rest is held by individuals. Mr Pichet said the bank has provided a client network. At the recent Money Expo, BLS added a record 1,000 trading accounts through its cooperation with BBL. At present, BLS has 48,000 trading accounts, 29-30% of which are active. Like dislike 0 people liked / 0 people disliked this article ___ (c)2012 the Bangkok Post (Bangkok, Thailand) Visit the Bangkok Post (Bangkok, Thailand) at www.bangkokpost.com Distributed by MCT Information Services [ Back To TMCnet.com's Homepage ]