Inter-Pacific Securities Sdn Bhd (IPS), a Malaysian brokerage firm, has gone live with SunGard’s GL Net low-latency market data and order routing network to gain direct market access (DMA) to Bursa Malaysia Berhad’s derivatives exchange – reported The Asian Banker.
SunGard’s GL Net will help IPS’s local and international clients execute orders directly on the exchange and improve execution speed and management of large limit orders. GL Net also gives IPS access to a network of world-wide brokers and investors, who can now utilize IPS to trade on the Malaysian derivatives marketplace.
Kuok Wee Kiat, executive director of IPS, said: “In addition to supporting us in offering new services to both our local and international clients, the implementation of DMA via SunGard’s GL Net is expected to provide IPS with a platform to gain access to other exchanges, which will widen our product range and market reach.”
Yassine Brahim, president of global trading business at SunGard, said: “SunGard continues to work with brokers and exchanges in developing regions, building long-term relationships in order to help brokers achieve their business goals and providing international financial institutions with access to new areas of investment. For instance, IPS can now collect orders with GL Net DMA services so that international clients of both IPS and SunGard can trade on the Malaysian derivatives marketplace.”
