JAKARTA, Indonesia, via eTeligis Inc., 06/17/2014 - - 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.
CONTACT
John O'Shea
CEO & President
SOURCE: IGEX
Associated Documentation:
Link to submission on http://www.eteligis.com
IGEX_6-17-2014_ALD_ETL.docx
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