PHOTO - PM Securities' dealers using the new trading platform, called TraderConnect Lite.
The full migration to an advanced electronic trading platform has helped PM Securities to increase productivity as well as prepared the Malaysian stockbroking firm for the ASEAN Trading Link when it becomes operational.
Speaking on August 8 2012, PM Securities executive director Francis Ang said all its dealers and remisiers have been migrated to the new platform, which has been implemented by specialist in electronic trading technologies N2N Connect.
"The migration of PM Securities to the advanced electronic trading platform of N2N Connect will speed up the entire system while new mobility features will allow more trading transactions to be executed efficiently," said Ang, adding that platform complied with the Direct Market Access (DMA) gateway mandated by Bursa Malaysia (Bursa - Malaysia's stock exchange).
"We are pleased to have fully migrated to the new platform ahead of the deadline set by Bursa. Going forward, dealing in securities should be a seamless process of instruction, transmission and execution of all orders, at anytime, anywhere and with any device," he said.
The DMA migration deadline has been extended from end-March to 31 December 2012. PM Securities' successful migration means it is among the earliest Malaysian broking houses to meet the deadline.
The ASEAN (Association of Southeast Asians) Trading Link was announced in June 2011, and was initially expected to launch by the end of last year. The project, which is the culmination of 15 years work, is driven by the ASEAN Exchanges group with the objective of synchronising the trading and settlement processes of individual markets and to help draw more international investor capital to member countries.
Trading via mobile devices
Ang said the new electronic platform would allow PM Securities' dealers and remisiers across Malaysia to access trading information, while their clients could execute trades directly to Bursa or assisted by dealers and remisiers. "PM Securities is also implementing a technology upgrade to allow its dealers and remisiers to execute trades while meeting with clients away from the office through mobile devices such as smartphones and tablet PCs."
PM Securities, a wholly-owned subsidiary of PM Capital Berhad and a member of the MUI Group of companies, has converted its Broker Front End (BFE) system and connected all of its 10 offices to the latest trading infrastructure developed by N2N Connect, which comprises TraderConnect Pro (TC Pro) for dealers and remisiers and TraderConnect Lite (TC Lite) for clients.
"We are honoured that PM Securities entrusted their trading platform to N2N Connect and fully migrated ahead of schedule," said N2N Connect managing director, Andrew Tiang. "The TC Lite system is truly state-of-the-art as it will allow trading of dealers and their clients on a unified platform directly connected to Bursa's trading engine, reducing latency. It is faster, more convenient and provides distinctive advantages."
Sign up for CIO Asia eNewsletters.