HONG KONG--(Marketwire -07/24/12)- Fidessa group plc (FDSA.L), provider of high-performance trading, investment management and information solutions for the world's financial community, has today announced that Daiwa has gone live on the Fidessa trading platform in Korea, cementing Fidessa's existing presence in that market. The solution will be used by Daiwa's Korean equity trading business in support of its domestic and international order flow and is part of a broader initiative that will see Fidessa provide Daiwa with a single trading platform across its Asian operations including Hong Kong, Singapore and Taiwan.
The Korean go-live is a key milestone in Daiwa's move towards this pan-Asian platform, that will provide them with fully-integrated order management and routing, consolidated position management and greater efficiency in managing regional order workflows.
"We have an extremely strong equity trading business in Korea and therefore needed a system robust and scalable enough to support it," says John Zendano, Managing Director Information Technology, Daiwa Asia - Oceania. "Like elsewhere, regulators are driving change in the Korean trading and investment markets. Experience tells us this could significantly affect our operating environment and we need to be ready to adapt to this. Fidessa has proven its ability to support us through periods of sustained change and complexity in other parts of the globe and therefore, partnering with them in Korea, and indeed across the rest of Asia was, for us, the only option."
Daiwa is now trading the Korean markets through Fidessa's localised trading platform. Specific local functionality includes basket/program trading, order management, integration with the Korean Stock Exchange through Koscom providing seamless execution management, and conformance with the Korean messaging protocol, KFIX, meeting all of Daiwa's onshore and offshore connectivity needs.
"We understand the importance of localising our global solutions and infrastructure to cater for regional regulatory and market requirements," says David Jenkins, Head of Business Development, Fidessa. "This ensures firms like Daiwa are able to trade different markets from a consolidated platform as efficiently as possible. While international firms require a global approach to the front office for international client relationships and trading memberships, every market has unique requirements. The Fidessa trading platform is well positioned to scale both regionally and globally, helping our clients overcome the challenges and capitalise on the opportunities presented by trading across worldwide markets."
About Fidessa Group
Exceptional trading, investment and information solutions for the world's financial community.
New technology, new regulation, new challenges: making money in today's financial markets is all about staying ahead of the curve. Having the capability to spot new trends and act fast turns change into opportunity. That's why 85% of the world's premier financial institutions trust Fidessa to provide them with their multi-asset trading and investment infrastructure, their market data and analysis, and their decision making and workflow technology. It's also why $10 trillion worth of transactions flow across our global network each year. Because we're the market leader, we can also offer unique access to the world's largest and most valuable trading community of buy-side and sell-side professionals, from global institutions and investment banks to boutique brokers and niche hedge funds.
Fidessa is a global business with scale, resilience, ambition and expertise. We've delivered around 30% compound growth since our stock market listing in 1997 and we're recognised as the thought leader in our space. We set the benchmark with our unrivalled set of mission-critical products and services and, uniquely, serve both the buy-side and sell-side communities. Ongoing investment in our leading-edge, integrated solutions ensures Fidessa remains the industry's number one choice: www.fidessa.com
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