Investment bank Credit Suisse’s Advanced Execution Services (AES) unit has executed a direct market access (DMA) equity trade for an external client on Indonesia’s Jakarta Stock Exchange. The bank claims it is the first foreign broker to do so.
In late December last year, Credit Suisse became the first broker to execute a DMA trade in Malaysia, and remains the only broker offering the service in that market.
“Indonesia is a challenging market to trade, with large spreads and low volumes,” said Brook Teeter, Credit Suisse’s head of AES sales for Asia Pacific, in a statement. “As an efficiency tool we are expecting our clients to take greater control of their orders and feel comfortable in the anonymity DMA affords them.”