JAKARTA, Indonesia, Dec. 2, 2015 (GLOBE NEWSWIRE) -- Indo Global Exchange Pte., LTD (OTC Pink:IGEX) (the "Company") or ("IGEX"), a growing provider of online global markets and trading platforms for securities and commodities, announced today that the Company's CEO, John O'Shea, has provided an update on the Company's outlook for the emerging financial markets service sector, as well as the strategic partnership with Yellow Octopus.
IGEX provides a comprehensive online trading platform. We are a global foreign exchange investment management company and we specialize in a quantitative, research driven approach to investing. We aim to achieve double digit absolute returns from specialist managed foreign exchange strategies designed to perform well through market volatility, by trading multiple discrete foreign exchange strategies, which allow us to achieve growth in both rising and falling markets.
IGEX offers professionally managed and self-managed investments for a variety of investors. The Company currently has strategic partnerships with several brokers, as well as specialized referral groups to large financial institutions. We provide our partners dedicated back office and risk management tools, which allows them to increase their profit margins by streamlining operations and personnel. As IGEX's volumes have increased, we have been able to command increasingly competitive prices from our providers, which will add to our bottom line and revenue growth.
FX has emerged as much more than just a necessary medium of exchange. Global foreign exchange market continues to grow from daily turnovers of $1.2 trillion in 2001, to $4 trillion in 2010, to $5.3 trillion in 2013 (BIS Triennial Central Bank Survey 2013). The overwhelming trend is that financial institutions are concerned with generating alpha through FX, rather than just employing it as a necessary component of other financial transactions.
On March 16, 2015 IGEX announced an Introducing Broker Agreement with Yellow Octopus a marketing and sales distribution company, based in Singapore, with access to China, Indonesia and Malaysia. At that time, the Company said it would start marketing IGEX SuperTrader to its partners in April 2015. After the first six-months, Yellow Octopus is well on track to achieve $6,000,000.00 in funds under management, as well as recurring revenues of over $520,000.00 in recurring revenue for IGEX. At this level, IGEX could be breakeven, since the current burn rate has been reduced by 40% to $25,000.00, as a result of management cost-savings.
CEO, John O'Shea said, "Reducing costs and increasing recurring revenues has been the cornerstone of our business plan. As we form additional strategic partnerships and roll-out new products, we expect our revenues will continue to increase." Mr. O'Shea continued, "We believe IGEX offers more trading platforms than any other provider in Asia and we make it a point to put our partners and customers first in everything we do."
About IGEX
Indo Global Exchange (IGEX) is at the forefront of the emerging financial markets service sector, partnering with noteworthy licensed suppliers of sophisticated global trading platform and trading strategies known as IGEX SuperTrader. IGEX's local knowledge coupled with world class partners gives clients security and 100% transparency, which is critical for entry into this large and relatively untapped Pacific Rim marketplace. For more information about IGEX's business, mission and strategic partners, visit www.igex.com .
Notice Regarding Forward-Looking Statements
This news release contains forward-looking statements, which reflect our views with respect to future events and financial performance. These forward-looking statements are subject to certain uncertainties and other factors that could cause actual results to differ materially from such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov .
John O'Shea President and CEO Menara Standard Chartered Jl. Prof. Dr. Satrio 30th Floor Jakarta KAV 146 Indonesia
