BOOM opens professional services division

The online securities company sets up execution, accounting and custody division for professional clients.

BOOM, the online securities company has revealed that it is to start a professional services division. The division will make use of the firm's extensive back office software platform which has taken 40 people four years to build.

The new division will sell its services to retail banks, brokerages and independent financial advisers throughout the region which do not have the scale to build their own, internationally capable back office functions.

The new division will be able to offer local and international order execution, sub-accounting and custodial services through a range of different accounts. The first account that clients can choose will be an agency relationship account where the banks will agree to...

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