Trading technology provider SunGard has expanded its global network to Jakarta, Indonesia, providing international investors with access to the Indonesia Stock Exchange (IDX), which trades equities and derivatives.
SunGard Global Network (SGN), the firm's low-latency information and order routing network, links more than 2,000 asset managers and 500 brokers on 110 markets worldwide. The Indonesian hub, SunGard's ninth in the Asia Pacific region, will enable local financial institutions to gain access to the firm's community of brokers, as well as take advantage of global direct market access (DMA) execution services.
“Indonesia is set to be one of the global economic powerhouses of the next ten years,” said Adikin Basirun, director of IT and risk management at IDX. “SGN will help IDX offer its members new business from international investors and attract new market participants and investments to the exchange.”
Wiwit Gusnawan, director of finance and operations at investment firm Bahana Securities, added that the SGN hub would help “facilitate DMA to local marketplaces” as well as provide DMA to the IDX for Indonesian brokers and international customers.
SunGard also recently announced that it would provide DMA for index futures in China, in a statement released in October 2010.