IPS intends to expand its derivatives business, and therefore it was looking for the right solution to enhance its derivatives trading services. SunGardâs GL Net will help IPSâs 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: âIn addition to supporting us in offering new services to both our local and international clients, the implementation of DMA via SunGardâs 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.â
Yassine Brahim, president of SunGardâs global trading business, commented: âSunGard 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.â