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...of securities of another person or enterprise, including securities of government and its instrumentalities. Through the years, the Philippines has been witness to a vastly changing financial sector where which have demanded the services of investment houses. In particular, a trend of companies continually choosing to expand its operations is evident as the years have gone by and this expansion of companies brings with it an increasing need for corporations to avail of external financing be it from issuing new debt and/or equity.
AB Capital Securities, Inc., a subsidiary of AB Capital and Investment Corporation, is an example of an investment house which offers security underwriting services, online stock trading services and market research resources. Customers range from small and individual investors to large corporations. It differs from an investment corporation in that an investment company is considered an entity primarily engaged in investing, reinventing or trading in securities.
For the purposes of this paper, the content would focus mainly on the functions and operations of AB Capital Securities Inc. as the services it provides epitomize what an investment house should do for its clients.
Company History
AB Capital and Investment Corporation traces its roots back to the year 1980 with the establishment of Anscor Finance, Inc. by the A. Soriano Corporation. Anscor Finance, Inc. started first as a financing and leasing company but with the first quasi-banking authority given to a Philippine institution in years and with a newly granted investment house license in 1981, the company changed its name to AB Capital & Investment Corporation which now focuses on the capital markets. During the same year, the original financing and leasing operations of the company were transferred to a separate entity, namely Anscor Finance Corporation.
In its early...
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