DST International (DSTi) says Thai broker Phillip Securities is to expand its use of HiTrade, its front end processing solution for brokers.
Phillip Securities (Thailand) is part of the Phillip Capital Group that is based in Singapore. In 2002, they migrated to HiTrade on UNIX. The company currently has 8 branches.
Phillip Securities’ front office system consists of Main, Hot Backup, Trade Engine, MarketWorks and Data Gateway. They use Data Gateway for interfacing with their well known internet trading system (POEMS).
“We chose HiTrade because we believe the flexibility of a Windows-based system will result in higher operational efficiency,” says K. Arak, Phillip’s Senior Vice President-IT. “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.”
Thitikorn Choksuwanich, DSTi’s general manager for Thailand, claims HiTrade is market leader for broker front office solutions in the Thai market. HiTrade currently powers 55% of the brokers in Thailand and manages 65%
of the market transactions.