UBS has launched its algorithmic trading platform on Bursa Malaysia, allowing the bank's clients to send their electronic orders directly to the exchange without them passing through an intermediary.
The move is a response to growing demand for algorithmic trading in Malaysia, according to Yang Xia, head of direct execution services for UBS in Asia Pacific, who added that country's economic growth had created liquidity and contributed to a steady inflow of funds.
“Clients now have access to a full product suite of strategies in addition to our well-established direct market access offering, which has accelerated both the speed and efficiency of electronic trading,” said Xia. “Bursa Malaysia's offering of high-speed trade execution with low network latency now provides investors with a robust and efficient platform for trading in the Association of Southeast Asian Nations.”
Malaysia is the ninth market in Asia Pacific in which UBS offers direct algorithmic trading. UBS plans to continue the rollout of the platform across the region and expects to launch in Indonesia in Q4 2010.
The launch of the UBS platform follows the migration of Bursa Malaysia derivatives products onto the CME Globex electronic trading platform in September 2010, a change that enabled global traders to access Malaysian derivatives products electronically.