In a disclosure, the proprietary trading firm said the move is in line with its aim to reach a long-term target of getting more revenues from global trading.
For the first quarter of 2022, up to 43% of total proprietary trading revenues came from global markets. It added that the foreign country’s “commodity-driven nature allowed its stock market to thrive despite the global meltdown.” CTS said the positive reception should fuel more technology company listings in the coming years for Indonesia.
It’s only a little weird because this wasn’t the type of foreign market that the prospectus talked about. That said, the prospectus and trading plan was made in a different financial world, so this pivot could make sense!
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