Malaysian broker RHB Investment Bank, a division of the RHB Banking Group, has joined trading technology firm Fidessa’s global connectivity network. As a result of the connection, buy- and sell-side users of the network platform will be able to send (DMA) flow to RHB for execution on Bursa Malaysia, the country’s national stock exchange.
“RHB now has access to the whole of our buy-side and sell-side communities, many of whom are keen to take advantage of Malaysia’s dynamics and potential, and take advantage of DMA access which has recently been permitted by the Malaysia stock exchange,” said Simon McDowell, managing director of connectivity at Fidessa, in a statement.
Bursa Malaysia introduced DMA for derivatives in March 2008 with the launch of its Bursa Trade electronic trading platform. The exchange expects to introduce full DMA for equities at the end of June 2009. Electronic access for equities trading is currently available through the exchange’s ECOS Gateway via member brokers. According to Bursa Malaysia, this is not strictly DMA as it does not provide direct access to the exchange’s trading engine.
“Electronic trading is set to expand significantly in Malaysia and Asia as a whole, and we have seen a significant growth in demand for connectivity to the markets in our region,” said Chay Wai Leong, managing director of RHB Investment Bank. “Our relationship with Fidessa will help ensure that we remain at the head of this trend.”
Fidessa’s global connectivity network comprises more than 360 brokers, 2,200 buy-side firms and 115 venues worldwide.