RHB Investment Bank
has implemented GL Net, Sungard’s recently acquired order routing network, to provide direct market access to the Bursa Malaysia, the domestic Malaysian stock exchange.
The deal will enable RHB to trade equities and futures directly on exchanges, without having to route orders through sales traders and dealers, allowing it to self-manage its limit orders and cut latency.
RHB has also selected GL Stream, an order management system, which Sungard claims will help the firm process increasingly large transaction volumes and better manage its trading strategies.
“It is crucial that our business is supported by an integrated, scalable and resilient trading platform that will help us to keep ahead of our competitors,” said Chay Wai Leong, managing director of RHB Investment Bank. “By selecting SunGard’s GL Net and GL Stream solutions, we have given ourselves an architecture to offer STP and better services to our clients in the face of future rising trading volumes.”
“The new agreement with RHB Investment Bank allows SunGard to establish gateways to provide direct market access to the Bursa as well as electronic desk access to Malaysian brokers,” added Yassine Brahim, president of SunGard’s global trading business. “International customers of both RHB Investment Bank and SunGard will now be able to trade on the Bursa.”
Sungard, a global software provider to the financial services industry, acquired GL Net and GL Stream as part of its takeover of French-owned vendor GL Trade last August.