Indonesian Investment Bank Mandiri Sekuritas has deployed SunGard’s Valdi and SunGard Global Network (SGN) solutions to offer direct market access (DMA) to the Indonesia Stock Exchange (IDX).
The recent technology change will facilitate global investors to access IDX by sending orders to Mandiri Sekuritas through the FIX protocol or SGN’s order routing network, claims the bank.
Mandiri Sekuritas, a subsidiary of Bank Mandiri has also picked up Valdi’s real-time, pre-trade risk management solution to meet Indonesian regulatory norms, such as trading limits based on the size of each investor’s deposit with the Indonesian clearing house.
According to the firm, Valdi stores information for each of Mandiri’s clients, tracks their activity on IDX, and prevents them from trading once they reach their limit.
Mandiri Sekuritas president director said SunGard’s Valdi and SGN help Mandiri Sekuritas provide global investors with reliable DMA to the Indonesia Stock Exchange. Only a small group of Indonesian brokers can provide this service, helping make Mandiri Securities more competitive. Valdi’s risk controls also help us comply with the stringent Indonesian regulatory rules.
Mandiri Sekuritas offers an ideal range of securities underwriting, corporate finance, securities brokerage (institution, retail and online trading), and research and investment management services.