SunGard adds Philippine broker to network 21 October 2013Philippines Reporter: Georgina Lavers
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First Metro Securities Brokerage Corporation has joined the SunGard Global Network (SGN) to become the network’s first broker based in the Philippines.
First Metro Securities will now be able to provide the SGN user community with direct access to trade securities listed on the Philippine Stock Exchange.
“According to World Federation of Exchanges data, the Philippine Stock Exchange was one of the strongest performers in the Asia-Pacific region in 2012, with a 39 percent growth rate for the year,” said president of First Metro Securities Brokerage Corporation, Gonzalo Ordoñez.
“[The stock exchange] is now attracting investors globally and First Metro Securities is committed to helping the exchange expand. To continue growing [the stock exchange] and to help solidify our position in the region, First Metro Securities is utilising the SunGard Global Network to offer our clients reliable technology and fast connectivity, and to leverage SunGard’s strong ASEAN regional expertise.”
“The ASEAN region continues to attract interest from investors globally, who are keen to take advantage of persistent growth, increased economic liberalization and the rise of its ‘consumer market society.’ SunGard believes the expansion of financial firms to help serve regional and foreign market participants will likely continue steadily,” said Philippe Carré, global head of connectivity for SunGard’s capital markets business.
According to year-to-date data from the exchange, First Metro Securities ranks 16th among the total active trading participants on the exchange. First Metro Securities is a wholly owned stock brokerage company of First Metro Investment Corporation, the investment banking arm of the Metrobank Group.
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