Mandiri Sekuritas, a leading investment bank in Indonesia and a subsidiary of one of the biggest Indonesian banks, Bank Mandiri, has gone live with SunGard’s Valdi and SunGard Global Network (SGN) solutions to offer direct market access (DMA) to the Indonesia Stock Exchange (IDX). Global investors can access IDX by sending orders to Mandiri Sekuritas via the FIX protocol or SGN’s order routing network.
Mandiri Sekuritas is also using Valdi’s real-time, pre-trade risk management solution to help it comply with Indonesia’s regulatory requirements, which include trading limits based on the size of each investor’s deposit with the Indonesian clearing house. Valdi stores that information for each of Mandiri’s clients, tracks their activity on IDX, and prevents them from trading once they reach their limit.
Harry M. Supoyo, president director of Mandiri Sekuritas, 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.”
Nasser Khodri, managing director for SunGard’s capital markets business in Asia Pacific, said, “For international investors attracted to Indonesia, a growing number of local brokers are investing in DMA solutions to offer new investment opportunities. SunGard’s SGN and Valdi are helping Mandiri Sekuritas reach that new audience and expand its business.”