GL TRADE, global provider of multi-market and multi-asset applications for international financial institutions, offers with PT TRIMEGAH SECURITIES Tbk. (Trimegah), Indonesian broker, Direct Market Access to the Indonesia Stock Exchange (IDX). This agreement will allow non-members of the IDX to send orders via Trimegah. It also strengthens GL TRADE’s client connectivity offering, which will be presented at GL NET FORUM 2008 in London, on 25 September.
Direct Market Access (DMA) via GL NET, the group’s low latency order routing and trading network, enables financial institutions to handle high transaction volumes. Through GL NET, firms can trade electronic markets around the world without necessarily being members. The DMA service provides low latency market data flow and high performance order execution, as for market members.
ASP gateways enable GL TRADE’s clients to get a better grip on their total trading costs and to grow their cross-border activities efficiently. Exchanges can also request to establish an ASP gateway to facilitate trading connectivity and remote membership, as Tokyo Financial Exchange has done this year with GL TRADE.
“We are excited to connect Trimegah to GL NET as this will enable us to provide our global and domestic clients with better execution, as well as to offer Indonesian clients direct access to markets outside Indonesia,” says Henry F. Jusuf, managing director, equity and capital markets at Trimegah.
“Having established gateways to provide DMA access to IDX and also electronic desk access to Indonesian brokers, we are delighted to enable international clients to trade on IDX through the agreement with Trimegah, as a major Indonesian brokerage house,” says Nasser Khodri, managing director of GL TRADE South-East Asia. “GL TRADE has always sought to work with brokers and exchanges on developing markets, building long-term relationships and partnerships. This work also enables the members of the international financial community to connect to new pools of liquidity and expand their trading opportunities.”
Delegates interested in finding out more about GL TRADE’s market and client connectivity solutions can visit GL TRADE Booth N31, 32, 33 at GL NET FORUM 2008, The Brewery, London, United Kingdom, on Thursday, 25 September.
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