MidasTrade will provide the quotes, data and execution for AHTS through its ‘Global Direct Access Network’ (GDAN). MidasTrade will also provide clearing and settlement for all transactions executed through the AHTS, streamlining the process by way of this new integrated clearing and settlement infrastructure.
On April 26, 2006 MidasTrade announced that it was partnering with KSD to develop a system for inbound trading of Korean stock markets. The outbound service of this program completes the two way network of direct market access trading between Korea and the US.
By providing a centralized system through KSD, MidasTrade is able to simplify the costs and time associated with setting up these accounts for brokerage firms and their customers.
MidasTrade says that by providing execution, settlement and clearing for KSD, it is eliminating the problems customers have encountered in setting up these services.
The MidasTrade GDAN is designed to provide investors with immediate execution and confirmation of their securities trade with minimal surcharges and commissions. The company launched GDAN in South Korea and the US in March 2002 and is expanding its service to Canada, Hong Kong and Europe.
