DST International (DSTi) says Thai retail broker Adkinson Securities PLC (Adkinson) has bought HiTrade, its front end processing solution for brokers. Adkinson plan to go live on HiTrade by June 2004.
Adkinson is focused on retail investors and has more than 20 branches nationwide. The company will shortly begin to migrate from their in-house front office system to HiTrade on UNIX. Initially there will be over 1,000 users and this is expected to gradually increase this year.
“We chose HiTrade because we believe the flexibility of a Windows-based system will result in higher operational efficiency,” says Somchai Patcharapisutsin, Adkinson’s EVP of Information Technology. “HiTrade has an excellent reputation here in the markets and we chose them because of this and the service that we know we will receive. We have confidence in the reliability of the DSTi products we currently use.”
Thitikorn Choksuwanich, DSTi’s General Manager in Thailand, says that HiTrade is “truly the undisputed leader for broker front office solutions for the Thai market.” HiTrade currently powers 55% of the brokers in Thailand and manages 65% of the market transactions.