JAKARTA, Indonesia, Dec. 4, 2015 (GLOBE NEWSWIRE) -- Indo Global Exchange Pte., LTD (OTC Pink:IGEX) ("IGEX"), a growing provider of online global markets and trading platforms for securities and commodities, announced today that it has re-negotiated the terms and conditions of its current agreement with Jackson Capital to allow for the mark-up spread (commissions) to be increased from $25.00 per $1 million under management to $250 per $1 Million under management, which is a 1000% increase in future revenues, once the system changes are made. We anticipate the upgrade to our system to be completed by year end.
Jackson Capital provides individually managed discretionary trading accounts comprised of complex algorithms developed using extensive quantitative research, analysis and testing. Largely automated, the algorithms capture market movements 24 hours a day ensuring all opportunities are capitalized, free of human emotion and error. IGEX provides a comprehensive online trading platform. IGEX 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.
IGEX CEO, John O'Shea said "The way our business model works is that IGEX offers professionally managed and self-managed investments for a variety of investors via our comprehensive online trading platform. Jackson Capital basically provides the back end by managing client accounts and paying us a fee, or a commission. Our strategic partners, which include several brokers, as well as specialized referral groups to large financial institutions, have hundreds of salespeople who can potentially bring in new funds under management." Mr. O'Shea continued, "As we bring new strategic partners on board, like our recent announcement regarding Yellow Octopus, we have the opportunity to bring in additional funds. This new fee agreement with Jackson Capital, which is 1,000% higher than before, makes every strategic partnership 10 times more valuable. As we bring in larger strategic partners, obviously, our revenues will increase at a much faster pace."
Algorithms are widely recognized as one of the fastest moving trends in the capital markets. Employing rules-based strategies has enabled buy-side firms to increase productivity, lower commission costs and reduce implementation shortfall. The U.S. market is well established in this space and is fast gaining popularity in other regions such as Asia-Pacific.
According to The Tabb Group, Credit Suisse, Goldman Sachs, Morgan Stanley, and Investment Technology Group are the pioneers in the field of algorithms trading. Other firms that are algorithms trading include Citigroup, Lehman Brothers, BNY Brokerage, JPMorgan Chase, Merrill Lynch, and Nomura Securities. Other sources include buy-side quantitative analysts that create their own algorithms and third-party vendors like FlexTrade Systems, Progress Software and Portware, which offer canned algorithms and tools to develop customized algorithms. This is all USA based. IGEX is one of the first to take these models to Asia.
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
