CLSA Ltd has launched an electronic trading platform in the Philippines. It is the first foreign broker to be certified by the Philippine Stock Exchange for electronic trading.
The new trading system offers 15 strategies for CLSA’s clients and increases the number of Asian markets in which the brokerage offers electronic trading to 11.
CLSA’s global head of trading and execution Andrew Maynard said that CLSA’s 9% market share in the Philippines, coupled with the crossing technology now available, would enable clients trading electronically to access CLSA’s significant liquidity pool in a market where institutional-sized liquidity can be expensive to attain.
The firm commented that in a market with low liquidity, relative high price volatility and wide spreads, electronic trading will allow their clients to react faster to real-time, Philippine market updates, which the firm said was essential in lower liquidity scenarios.
CLSA won the TRADE Asia award as ‘best local broker for trading and execution in the Philippines’ in November 2014.