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.
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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!