Koscom, Korean financial IT solutions company, said Tuesday it inked a deal with Indonesian financial IT company Micropiranti to supply its trading brokerage hub solution STP-HUB.
The STP-HUB is an IT solution, which can automatize orders between institutional investors and securities. Currently, around 150 local financial institutions are using the solution and this is the first time that the solution is shipped overseas.
Koscom said when Micropiranti adopts the system, it can save data processing and infrastructure cost by automatizing the orders of its local stock market. It can also save costs for infrastructure and data processing of securities orders.
Kim Kye-young, Koscom's overseas business division chief said, "Through the export to Indonesia, we will push ahead with diverse businesses with Micropiranti down the road," adding, "We are expecting that this deal will contribute to the rise of liquidity of financial markets at home and abroad."
