RHB selects SunGard’s GL Net, an order routing network, and GL Stream, an order management system
RHB Investment Bank Berhad has selected SunGard’s GL Net, an order routing network, to provide direct market access to the Bursa Malaysia Berhad. The bank has also selected SunGard’s GL Stream, an order management system.
The company said that GL Net and GL Stream together will help RHB Investment Bank to receive and execute orders from local or international investors.
With direct market access from GL Net, RHB Investment Bank will now be able to trade equities and futures directly on exchanges, without orders being routed through sales traders or dealers, helping it to improve execution speed and self-manage its limit orders. GL Stream will also help the bank to process large transaction volumes and manage its trading strategies, added SunGard.
Chay Leong, managing director of RHB Investment Bank, said: By selecting SunGard’s GL Net and GL Stream solutions, we have given ourselves architecture to offer straight through processing and services to our clients in the face of future rising trading volumes.
Yassine Brahim, president of SunGard’s global trading business, said: SunGard’s global trading business continues to work with brokers and exchanges in developing regions, building long-term relationships in order to provide financial institutions with access to new areas of investment.