BOC Hong Kong (2388) has launched the first of its kind odd lot trading services, "NotALot", for over 200 stocks and exchange-traded funds.
The minimum investment is one share instead of one board lot and the commission charges are a flat 0.25 percent per transcation .
Customers who sell odd lots can enjoy unlimited commission-free transactions until December 31.
The bank's "i-Free Banking" customers will be able to use the services first.
The new service targets young customers and investment newbies with assets under HK$200,000, says Arnold Chow, deputy general manager, personal digital banking product department.
The bank also launched a stock widget that shows instant market updates on mobile phones.
Customers transacting A-shares, US shares and Hong Kong shares through the widget will not be chagred any commission for the first three transactions, until September 30.
Hong Kong stocks with less than one board lot of shares are called odd lots. Investors can sell odd lots online, though the branch, and the hotline. When odd lots are sold, the price is generally lower than the market price of the underlying stock at that time. When the number of odd lots has accumulated to one board lot of shares, they can be sold at the regular stock price.