Investment bank Citi has launched an electronic equities execution service, Automated Trading, and execution algorithms in Malaysia, allowing the firm’s global clients to send electronic orders to Bursa Malaysia, the country’s national stock exchange. The service is available to offshore global investors looking to access the Malaysian market.
While Citi’s Automated Trading service will not offer full direct market access (DMA) to Bursa Malaysia, because the stock exchange will not introduce DMA for cash equities until June this year, the service will enable clients to send orders to Bursa Malaysia automatically and use Citi’s suite of execution algorithms to trade on the exchange.
“Malaysia is a focus market for Citi in Asia and providing the Automated Trading access and algorithm services further compliments our electronic execution offerings for our clients,” said Grace Lin, head of electronic execution at Citi in Asia, in a statement. “We are confident clients trading Malaysian securities will benefit from Citi’s suite of algorithms and will also help bring extra liquidity to the Malaysian market.”
Citi already offers electronic execution services in Japan, Australia, Hong Kong, Singapore, Korea, Taiwan and India.