International Global Exchange (IGEX) Announces Services Agreement With KINA Securities LTD of Papua New Guinea
June 17 2014 - 9:00AM
Marketwired
International Global Exchange (IGEX) Announces Services Agreement
With KINA Securities LTD of Papua New Guinea
JAKARTA, INDONESIA--(Marketwired - Jun 17, 2014) - IGEX (OTC
Pink: IGEX) (PINKSHEETS: IGEX), through its partnership with
Halifax, has entered into a ten year services agreement with KINA
Securities LTD, http://www.kina.com.pg, the largest brokerage
company of Papua New Guinea (PNG). This agreement is to provide all
KINA Securities clients with access to over 21 global exchanges
that have direct access to international markets of equities,
currencies, futures, CFDs, options, and commodities.
KINA Securities represents 70% of all security transactions in
PNG, and currently use E*Trade Securities as their main execution
and clearing partner. KINA will be migrating all existing clients
to IGEX but recognizes the huge value in offering a more
sophisticated trading platform currently not available in PNG. This
will position KINA to increase their market share and be able to
grow business in alternative markets that currently also do not
have direct access to international financial markets.
The potential revenue from such an agreement with KINA is
substantial due to KINA having already an established brand and
client base within PNG. IGEX will book 100% of all revenue and
retain 30% of all commissions and trading revenue executed on
KINA's clients.
This is further exemplified as over the past decade, Papua New
Guinea's (PNG) economy has been experiencing high levels of
economic growth largely in part due to FDI into the country's vast
natural resources. It is forecasted that in 2014 the economy will
grow by 6.0% and a record 21.0% in 2015. The government has
therefore started to put measures in place that will enable PNG to
establish itself as a formidable participant in a region that is
experiencing some of the strongest economic activity on a global
scale and will continue to do in the foreseeable future.
To further take advantage of this unique opportunity, IGEX in
partnership with KINA will be developing and implementing regular
educational seminars and business gatherings in PNG to launch the
new platform to existing customers and future and new customers
that will be derived from the country's bullish economic
growth.
John O'Shea, President/CEO, of IGEX believes "signing such an
agreement is substantial for IGEX both in immediate revenue and
also underpinning its potential to operate in emerging markets such
as PNG, Fiji, Malaysia, Philippines and other emerging markets that
its currently targeting."
IGEX is positioning itself at the forefront of the Asian
financial market service sector through the support of partner
relationships with noteworthy licensed suppliers of sophisticated
global trading platforms in Equities, CFDs, Derivatives,
Commodities, Energies, Foreign Exchange and Options. IGEXs
world-class partners offer clients security and 100% transparency,
which is critical for entry into this vast and virtually untapped
Pacific Rim marketplace. For more information about our business,
mission and strategic partners visit: www.igex.com.
John O'Shea CEO & President John.Oshea@IGEX.com
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