Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

CTS Global to venture into Indonesian market

by
July 4, 2022
in Investing News
0
CTS Global to venture into Indonesian market
0
SHARES
13
VIEWS
Share on FacebookShare on Twitter

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

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
Star Magic launches US tour

Star Magic launches US tour

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
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!
 

Recommended

Price hike applications for noodles, canned sardines enter final review

Price hike applications for noodles, canned sardines enter final review

July 12, 2022
The Best Areas to Rent an Office in London

The Best Areas to Rent an Office in London

July 6, 2022
Government offers funding of up to £25m for 5G and 6G tech

Government offers funding of up to £25m for 5G and 6G tech

July 27, 2022
Asia’s factories feeble despite China bounce, feeds global recession fears

Asia’s factories feeble despite China bounce, feeds global recession fears

July 1, 2022
Biden adviser Sullivan raised concerns with China over North Korea

Biden adviser Sullivan raised concerns with China over North Korea

June 14, 2022
Baltimore Orioles dump Chicago Cubs, run winning streak to nine games

Baltimore Orioles dump Chicago Cubs, run winning streak to nine games

July 13, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.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.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.