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SBI Securities to enable stock trading with Line smartphone app

August 12, 2014

Major Japanese online brokerage house SBI Securities Co. said Tuesday it will enable customers to trade stocks using the Line messaging service for smartphones.

The new option for stock trading will be available as early as the end of this year as the brokerage house plans to release related information on its website on Aug. 19 and start responding to inquiries about stock prices using the Line application this fall.

"We want to broaden the investor base by utilizing the app service that is popular among young people," said a company spokesperson.

The new service is expected to cover trading of Japanese stocks and exchange-traded funds, and individuals with Nippon Individual Savings Accounts will also be able to use the service.

Capital gains and dividends on up to 1 million yen a year invested in stocks or other financial instruments through the accounts are tax exempt for five years under the NISA system.

To prevent information leakage, customers are expected to be required to type in passwords on the website of SBI Securities before trading with the Line app service.

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Source: Japan Economic Newswire

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