PSE, Malaysia’s N2N Global ink deal on online trading solutions

The Philippine Stock Exchange Inc. (PSE) on Tuesday signed an agreement with N2N Global Solutions Sdn. Bhd., a wholly-owned subsidiary of Malaysian-listed securities trading solutions provider N2N Connect Berhad to promote online trading and direct market

access to trading participants.

 

In a disclosure to the Securities and Exchange Commission, the PSE said N2N Global will provide the software solution allowing PSE to offer online trading for clients of accredited traders and brokers to execute and monitor their own orders.

 

The Malaysian company will also provide trading terminals for dealers and traders and the more sophisticated clients, as well as direct marketing access with automated order taking facility and algorithm trading for clients who want fast execution of orders.

 

Through the direct access facility, clients of accredited brokers, dealers and traders having this service is directly connected to the trading engine of the exchange and can experience lower trade latency. 

 

This opens up the market for high-frequency trading, which utilizes algorithmic and other like strategies. This service accounts for 30 percent of trading in some markets in Asia and even as high as 70 percent of trading volume in the US, according to the PSE. —VS, GMA News