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GAIN Capital's GTX Partners With Indonesia Commodity And Derivatives Exchange (ICDX) To Offer New Exchange-Traded Currency Contracts

BEDMINSTER, N.J., Nov. 26, 2012 /PRNewswire/ -- GAIN GTX, LLC ("GTX"), the institutional division of GAIN Capital Holdings, Inc. (NYSE: GCAP), has signed an agreement with the Indonesia Commodity and Derivatives Exchange (ICDX), the leading futures exchange in Indonesia, under which GTX will provide trading technology and liquidity services for ICDX's new currency contracts.   

ICDX is the first Indonesian exchange to receive regulatory approval from Indonesia's Commodity Futures Trading Regulatory Agency (COFTRA) to offer currency products. 

"This partnership is unique in that allows ICDX to offer deep liquidity in these new currency products from day one, while also providing them with a secure and scalable platform that supports high trading volumes with ultra-low latency matching and post trade capabilities," said Glenn Stevens, CEO of GAIN Capital. "In addition, existing users of our GTX platform will benefit significantly from their ability to access the unique liquidity that partnering with an established international exchange provides."

Under the terms of the agreement, GTX will connect its current global network of institutional liquidity providers to ICDX, and ICDX will utilize GTX's ECN technology to provide its members, and their clients, a state of the art trading interface for price discovery, trade execution, sophisticated order management and algorithmic trading. 

"ICDX is committed to creating a robust venue for exchange-traded currency products in Indonesia, and our partnership with GTX accelerates our time to market tremendously," said Megain Widjaja, Chief Executive Officer at ICDX.  "GTX offers a turn-key, highly flexible technical solution that provides us an efficient means to access liquidity and allows us to support the trading activity of Indonesian institutions and investors who wish to access this important asset class."

ICDX is scheduled to launch with 27 currency contracts in the first quarter of 2013. 

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