(Vocus) October 28, 2009
Inter-Pacific Securities Sdn Bhd (IPS), a Malaysian brokerage firm, has gone live with SunGard’s GL Net low-latency market data and order routing network to gain direct market access (DMA) to Bursa Malaysia Berhad’s derivatives exchange.
IPS intends to expand its derivatives business, and therefore it was looking for the right solution to enhance its derivatives trading services. SunGard’s GL Net will help IPS’s local and international clients execute orders directly on the exchange and improve execution speed and management of large limit orders. GL Net also gives IPS access to a network of world-wide brokers and investors, who can now utilize IPS to trade on the Malaysian derivatives marketplace.
Kuok Wee Kiat, executive director of IPS said: “In addition to supporting us in offering new services to both our local and international clients, the implementation of DMA via SunGard’s GL Net is expected to provide IPS with a platform to gain access to other exchanges, which will widen our product range and market reach.”
Yassine Brahim, president of SunGard’s global trading business, commented: “SunGard continues to work with brokers and exchanges in developing regions, building long-term relationships in order to help brokers achieve their business goals and providing international financial institutions with access to new areas of investment. For instance, IPS can now collect orders with GL Net DMA services so that international clients of both IPS and SunGard can trade on the Malaysian derivatives marketplace.”
About Inter-Pacific Securities Sdn Bhd
Inter-Pacific Securities Sdn Bhd (IPS) was incorporated on 30 August 1972 and is a Participating Organisation of Bursa Malaysia Securities Berhad as well as a Trading Participant of Bursa Malaysia Derivatives Berhad. Its paid-up share capital is RM250 million (US $72 million) while its shareholder’s funds stood at RM447 million (US $128 million) as at 30 April 2009.
IPS has 6 offices located in Kuala Lumpur, Penang and Johor Bahru and has over 500 dealer’s representatives and staff.
IPS is a subsidiary of Berjaya Corporation Berhad, a major listed Malaysian conglomerate with diversified interests in various core businesses such as financial services, gaming & lottery management, property investment and development, vacation timesharing, hotel, resort & recreation development and consumer marketing and direct selling.
About GL Net
GL Net is a high-bandwidth global network, providing order routing and market data delivery services. GL Net links a direct-market-access community of financial institutions, with brokerage organizations offering services for trading on the world’s electronic markets in all core asset classes. GL Net’s connectivity hubs support low-latency market data delivery from global markets, and the network continues to expand to cover emerging electronic markets.
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at http://www.sungard.com .
*January 2009 Technology Vendors Financial Database Tracker - http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo and GL Net are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.