N2N CONNECT WILL FACILITATE CROSS BORDER STOCK TRADING WITH HONG
Kuala Lumpur, Tuesday (January 24, 2006):
Leading integrated e-commerce securities trading solutions and m-commerce solutions
provider, N2N Connect Bhd (N2N Connect), will be extending its cross border trading
facilities to Hong Kong as part of its plan to strengthen revenue from its e-commerce
segment. The e-commerce segment currently contributes about one third of N2N
Connect’s total revenue.
The company has entered into a memorandum of understanding with Hong Kong-based
2GoTrade Limited (2GoTrade) to offer direct straight-through process online stock
trading facilities between Malaysia and Hong Kong for both companies’ panel of
stockbroking clients and their customers.
2GoTrade is Hong Kong’s leading application service provider (ASP) for the capital
N2N Connect’s managing director, Andrew Tiang said that the partnership would enable
the company to tap into the good growth potential of the Hong Kong market.
2GoTrade with its current over 20 stockbroking clients, he said, would provide an
excellent start for N2N Connect to build a name for itself in the financial industry in Hong
Kong just like what it has done in Malaysia.
“Hong Kong is the second Asian market after Singapore for us to establish cross border
trading. Our aim is to facilitate interbrokerage trading across the Asian region and we
hope to sign-up with at least two brokers/banks in other Asian countries within a year,”
he said in a statement issued to the media today.
N2N Connect hopes to implement its cross border trading with Hong Kong by Q2 FY’06.
Under the partnership, 2GoTrade will provide N2N Connect with real-time Hong Kong
stock price on the latter’s suite of e-commerce and mobile solutions which includes
eBrokerConnect™, MobileConnect™ and PDAConnect. N2N Connect will licence its
e-commerce and mobile solutions to 2GoTrade for the latter to offer them as N2N-
2GoTrade joint services to investors, fund managers and brokers in Hong Kong under a
subscription model whenever appropriate.
N2N Connect’s cross border trading is via its proprietary GlobalConnect financial order
routing system which allows both inbound and outbound transactions between local and
overseas brokers who have collaborative arrangements.
GlobalConnect is developed based on International Standard FIX (Financial Information
In Singapore, N2N Connect’s GlobalConnect is through iTrade@CIMB offered by
Commerce International Merchant Bankers Bhd’s Singapore brokerage arm, CIMB-GK.
Currently, N2N Connect has six stockbroking firms as clients who collectively command
some 25% of the total market share of volume traded on Bursa Malaysia presently.
It’s consolidated pre-tax profit and turnover for the nine months ended September 30
FY’05 was RM2.14 million and RM5.42 million respectively which is an increase against
the whole of FY’04’s consolidated pre-tax profit of RM1.34 million and turnover of
About N2N Connect Bhd
N2N Connect, established in 2000, is an applications service provider (ASP) for the e-commerce and m-
commerce segments of the financial industry. The company currently provides online trading, online risk
management as well as mobile and SMS trading and marketing services. N2N Connect who counts banks
and stockbroking houses among its customers, has a string of achievements including the first in Malaysia
to offer real time portfolio management system for online trading in 2000 and the first in the Asean region to
launch mobile wireless PDA trading in 2003.
More about N2N Connect available at www.n2nconnect.com
Issued by : NexusPR Sdn Bhd
On behalf of : N2N Connect Bhd
For further information, please contact BG Tay at tel: (03) 7725 1908, mobile: 012-202
5898 or email: firstname.lastname@example.org