Trading solutions provider GL TRADE is to offer its international clients direct market access (DMA) to the Indonesia Stock Exchange (IDX) through Indonesian broker PT Trimegah Securities. The agreement will allow non-members of the IDX to send orders via Trimegah.
Clients will access Trimegah through GL NET, GL TRADE’s low-latency order routing and trading network. In addition to its participation in GL NET, Trimegah also plans to deploy the GL STREAM order management application suite to support its business.
The IDX has a daily average trading volume of $465 million. It offers trading in equities, fixed income and derivative products. Some 400 companies are listed on the IDX.
“We are excited to connect Trimegah to GL NET as this will enable us to provide our global and domestic clients with better execution, as well as to offer Indonesian clients direct access to markets outside Indonesia,” said Henry F. Jusuf, managing director, equity and capital markets at Trimegah, in a statement.
Nasser Khodri, managing director of GL TRADE South-East Asia, added, “Having established gateways to provide DMA access to IDX and also electronic desk access to Indonesian brokers, we are delighted to enable international clients to trade on IDX through the agreement with Trimegah, as a major Indonesian brokerage house. GL TRADE has always sought to work with brokers and exchanges on developing markets, building long-term relationships and partnerships. This work also enables the members of the international financial community to connect to new pools of liquidity and expand their trading opportunities.”