MICROmega has announced that its subsidiary company MICROmega Securities\u00a0has entered into a joint venture with GFI effective from\u00a01 April 2013.<\/p>\n
The joint venture will incorporate and operate GFI\u00b4s electronic trading platforms:\u00a0ForexMatch and\u00a0CreditMatch.<\/p>\n
These platforms display foreign exchange, fixed income derivatives and bond prices on screen.<\/p>\n
“For the past thirteen years we have had a trade and co-operation agreement with Tullett Prebon plc that\u00a0gave our South African operation access, albeit on a restricted basis, to international markets to service our\u00a0local client base” said Joe Vercueil, MD of MICROmega Securities.<\/p>\n
He said that agreement ended\u00a0on the 31st March 2013.<\/p>\n
“Our new agreement with GFI will materially\u00a0enhance our service delivery platform in both South Africa and the international markets through our\u00a0collective approach to leveraging our joint service offering.”<\/p>\n
“We believe this will ensure that we are far better\u00a0placed to provide improved liquidity and better price discovery for our clients,”\u00a0Vercueil said.<\/p>\n
The group recently published its\u00a0year-end results to 31 December 2012 with the following highlights:<\/p>\n
MICROmega sees vast earnings growth<\/strong><\/a><\/p>\n MICROmega earnings up 87% for H1<\/strong><\/a><\/p>\n MICROmega expects H1 earnings rise<\/strong><\/a><\/p>\n MICROmega looks for growth in the cloud<\/strong><\/a><\/p>\n