Connect with us

Hi, what are you looking for?

News

CTS Global to venture into Indonesian market

CTS Global Equity Group, Inc. plans to expand into the Indonesian stock market with an initial fund disbursement into Bank Central Asia (BCA) Indonesia, it disclosed on Monday.

In a disclosure, the proprietary trading firm said the move is in line with its aim to reach a long-term target of getting more revenues from global trading.

“The long-term goal for CTS is to derive 75% of its revenues from the global markets. We have world-class traders that are more than capable and now that we have capital in our arsenal, it’s time to expand into markets like Indonesia,” said CTS Chief Executive Office Lawrence C. Lee.

For the first quarter of 2022, up to 43% of total proprietary trading revenues came from global markets.

CTS said the expansion allows it to benefit from the neighboring country’s growth prospects. It said the Indonesia Stock Exchange records an average daily value traded of $1 billion as against the Philippine Stock Exchange’s (PSE) $150 million.

It added that the foreign country’s “commodity-driven nature allowed its stock market to thrive despite the global meltdown.”

The Indonesian market positively received GoTo, the merger between the country’s technology companies Gojek and Tokopedia, as seen by the 23% increase on its first day of trading, it said.

CTS said the positive reception should fuel more technology company listings in the coming years for Indonesia.

CTS debuted in the local stock market on April 13, 2022 at a peso per share, raising P1.38 billion in gross proceeds, which will mainly fund its global trading operations and other purposes.

It is a licensed broker/dealer of securities with the Securities and Exchange Commission and both a stockholder and holder of trading rights of the PSE.

The company’s business segments are proprietary trading, brokerage services, and investment income.

In proprietary trading, it has more than 30 traders with exposure in global markets including the United States, China, Hong Kong, Japan, and the Philippines.

On Tuesday, CTS shares were unchanged at P0.93 each. — Justine Irish DP. Tabile

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...

News

Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...

News

Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...

News

REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...

News

Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.