GL Trade teams with broker Trimegah to offer Indonesia Stock Exchange connectivity

Source: GL Trade

GL Trade, global provider of multi-market and multi-asset solutions for international financial institutions, announced today that the group offers with PT Trimegah Securities Tbk. (Trimegah), one of the largest Indonesian brokers, 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 September 25th.

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.

Trimegah is a fully integrated securities house and one of the largest on the IDX in terms of trading value, volume, and frequency. Trimegah has also built a solid reputation in financial advice and research. Alongside its GL NET-based activities described here, Trimegah plans also to deploy the GL STREAMTM Order Management application suite to support its growing business.

The Indonesia Stock Exchange is one of the booming exchanges of Asia, with a daily average trading volume of US$ 465 million. It provides trading on equities, fixed income and derivative products. 400 companies are listed on the IDX.

GL TRADE has always focused on development of connectivity to multiple trading venues world wide. Today the group provides its customers with access to almost 150 markets via the 34 global hubs of GL NET as well as to over 60 venues via ASP gateways. GL TRADE works continuously to develop this offering: three new GL NET hubs and over 10 ASP gateways have been launched since the beginning of 2008. By the end of the year, two further hubs and three ASP gateways will be implemented.

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.

Henry F. Jusuf, Managing Director, Equity and Capital Markets at Trimegah said: "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."

Nasser Khodri, Managing Director of GL TRADE South-East Asia, said: "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.

"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."

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