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GL Trade teams with Seamico to offer Stock Exchange of Thailand connectivity

24 November 2008  |  2164 views  |  0 Source: GL Trade

GL Trade, global provider of multi-market and multi-asset solutions for international financial institutions, announced today that it has signed a deal with Seamico Securities Public Company, one of the largest Thai brokers, to provide direct market access (DMA) to the Stock Exchange of Thailand (SET).

This agreement will allow non-members of the SET to send orders via Seamico from early 2009, it also strengthens GL TRADE's client connectivity offering.

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.

Seamico is one of the top five equity houses in Thailand in terms of market share and was voted Best Equity House in 2007 by Finance Asia Magazine. Seamico has been expanding its services in all areas, and widening its product varieties and market reach. The company has also invested in state-of-the-art technologies to ensure that its clients will benefit from the best possible services available in the global financial communities.

Founded in 1991, the SET Lists 549 companies and daily average turnover in October 2008 was $413 million.

Chaipatr Srivisarvacha, Executive Chairman and CEO, Seamico Securities Public Company Limited, stated that: "Being on GL NET is the latest effort that shows Seamico's commitment in bringing our services to be on part with the world class financial markets. We are probably the first Thai broker that provides DMA into the Thai securities markets as well as into other major markets. We believe our clients will benefit from the excellent execution and reliability of our system. Seamico will work tirelessly to ensure superior returns and satisfaction to our clients."

Nasser Khodri, Managing Director of GL TRADE South-East Asia, said: "The addition of Thailand Stock Exchange into our portfolio of Direct Market Access (DMA) is further proof of our continuous strategic growth in the South-East Asia region. It also reflects interests from global investment companies seeking new investment opportunities with a particular focus on achieving Straight Through Processing. GL TRADE's electronic trading global footprint is enhanced thanks to this agreement with Seamico and, this is critically important to clients connected to our international order routing and execution network - GL NET."

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 30 global hubs of GL NET as well as to over 60 venues via ASP gateways. GL TRADE works continuously to develop this offering: five new GL NET hubs and over ten ASP gateways have been launched since the beginning of 2008.

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