Web Street, Inc. (Nasdaq: WEBS) rose 2 3/32 Wednesday to close at 9 1/8. The Chicago, Illinois-based Internet brokerage said its Web Street Securities unit began online trading of U.S. securities in Hong Kong.
The service is through an alliance with Sun Hung Kai & Co. Ltd. Hong Kong customers of the financial-service company’s SHKOnline unit will have access to U.S. markets using real-time streaming quotes, pop-up order confirmations and Web Street’s Trading Pit function. The two companies plan to expand their alliance throughout the Asia-Pacific region.
Web Street has a similar alliance for European investors with European online broker ConSors AG.