Thai broker United Securities has joined technology vendor Fidessa's connectivity network, enabling Fidessa's users to route direct market access (DMA) order flow to the Stock Exchange of Thailand (SET).
The Thai exchange is increasingly opening up to foreign investors, who currently make up 37% of the holdings in Thai shares and are responsible for 19% of the SET's daily activity. United Securities is one of the key institutional equity trading firms in Thailand and offers DMA to SET. By joining Fidessa's network, users will also be able to benefit from the firm's local knowledge and connectivity.
“We have seen significant interest in the fast-maturing markets of Asia-Pacific in the past year alone, and this announcement follows our recent signing of Indonesian Trimegah Securities and Yuanta Securities in Taiwan,” said Jean-Pierre Baron, managing director of Fidessa in Asia Pacific. “By developing the network in this way, we are helping to open up these markets to foreign investors.”
Fidessa's network provides connectivity to more than 2,400 buy-sides and 550 brokers across 142 markets.
SET recently listed its first Chinese exchange-traded fund, expanded the securities available for short-selling and launched non-voting depository receipts for foreign investors as part of a drive to increase foreign participation on its market.