Credit Suisses Advanced Execution Services (AES) unit became the first foreign broker to complete an equity trade for an external client on Indonesias Jakarta Stock Exchange using Direct Market Access (DMA).
Earlier this year, the Bank was the first broker to execute a DMA order in the Malaysian market, and remains the only broker offering this service in that market.
“We are very excited to add Indonesia to our growing list of electronic markets in Asia” says Brook Teeter, head of AES Sales for Asia Pacific. “Indonesia is a challenging market to trade with large spreads and low volumes. As an efficiency tool we are expecting our clients to take greater control of their orders and feel comfortable in the anonymity DMA affords them.”
DMA offers clients a range of potential advantages over traditional brokerage, giving clients the ability to trade equities and futures directly into exchanges without any of the delays associated with routing orders to a sales trader or dealer. It combines speed of execution, anonymity in the market, the ability to react quickly to other flows and the ability to self-manage limit orders in the market. DMA and AES can be accessed through over 60 order management systems.