RHB Investment Bank Berhad (RHB Investment Bank), a Malaysian investment bank, has selected SunGard’s GL Net, order routing network, to provide direct market access (DMA) to the Bursa Malaysia Berhad (Bursa).
The bank also selected SunGard’s GL Stream, a order management application. GL Net and GL Stream together will help RHB Investment Bank to receive and execute orders from local or international investors.
With direct market access from GL Net, RHB Investment Bank will now be able to trade equities and futures directly on exchanges, without orders being routed through sales traders or dealers, helping it to improve execution speed and self-manage its limit orders. In addition, GL Stream will help the bank to process increasingly large transaction volumes and better manage its trading strategies.
“It is crucial that our business is supported by an integrated, scalable and resilient trading platform that will help us to keep ahead of our competitors,” says Chay Wai Leong, managing director, RHB Investment Bank. “By selecting SunGard’s GL Net and GL Stream solutions, we have given ourselves an architecture to offer STP and better services to our clients in the face of future rising trading volumes.”
“The new agreement with RHB Investment Bank allows SunGard to establish gateways to provide direct market access to the Bursa as well as electronic desk access to Malaysian brokers,” says Yassine Brahim, president of global trading business, SunGard. “International customers of both RHB Investment Bank and SunGard will now be able to trade on the Bursa.”
L.D.