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Patsystems plc signs contract to provide front-end system to Midas Securities LLC

Patsystems is pleased to announce the signing of an agreement to provide front-end trading systems to Midas Securities LLC.

MidasTrade.com Inc through its wholly owned subsidiary Midas Securities LLC., has been providing Korean brokers and dealers with direct access to the US equities market since 2002. In 2006, they expanded their Midas GDAN, Global Direct Access Network, to include access to futures & commodities markets for Korean futures trading companies and brokers via Patsystems’ trading front-end, J-Trader.

Midas Securities will also be providing access to KOSPI, Korean Composite Stock Price Index, via Patsystems solution.

Jay Lee, President and CEO, Midas Securities LLC:
"Midas Securities is the first company to provide a direct link between Korean investors and the US securities markets. Our decision to expand Korean brokers’ access to include US futures and commodities markets, is a very positive step, and Patsystems’ solution has made the entire process much faster and easier for us.”

Patrick Kenny, Patsystems Managing Director for North America said:
"We are delighted to add Midas Securities to the growing list of Patsystems’ customers. We are well established in both the US and Asia, making us the right development partner for their expanding futures business.”