Indo Global Exchanges Pte Ltd (IGEX)

[Warchest]

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.