FiNETIK – Asia and Latin America – Market News Network

Asia and Latin America News Network focusing on Financial Markets, Energy, Environment, Commodity and Risk, Trading and Data Management

Banchile builds on Fidessa’s sell-side trading platform and connectivity network

São Paulo, January 22, 2013 – Fidessa group plc (LSE: FDSA) has announced today that Banchile, Chile’s third largest brokerage house, has selected its Latin American sell-side trading platform to underpin its institutional trading activity. The scalable SaaS solution, which includes access to Fidessa’s extensive global connectivity network, will provide Banchile with a firm foundation from which to pursue its growth strategy. The decision followed an extensive due diligence process by Banchile.

Fidessa’s Latin American trading platform gives Banchile world-class technology and infrastructure, tailored to the region’s specific local regulatory and market needs. Banchile will benefit from Fidessa’s highly-sophisticated order management system, which delivers seamless straight-through processing of international institutional orders from order creation and routing, to automatic notice of executions and confirmations. Fidessa will also provide advanced trading tools, including algorithmic and basket trading capabilities, to augment Banchile’s service offering and facilitate complex trading workflows. The implementation of these new functions will complement Banchile’s research services and extend the services their execution desk provides.

In addition, Banchile will gain membership to Fidessa’s global connectivity network, which processes order flow of more than $800 billion each month, granting it access to 3,200 buy-sides and 180 venues globally. The system will be hosted by Fidessa and co-located at the Santiago Stock Exchange. With better proximity to the exchange, Banchile will gain access to reliable, low-latency execution capabilities and be able to leverage the exchange’s ongoing investments in infrastructure and improvements to its matching engine.

Jose Antonio Diaz, Chief Investment Officer at Banchile, commented: “Through Fidessa’s trading platform, we are leveraging the most sophisticated and robust trading technology used by market participants across the globe. This enables us to offer world-class service to our growing institutional client base. Fidessa’s in-depth knowledge of the region is evident and this, coupled with its strong reputation for delivery and support services, drove our decision to partner with them.”

Alice Botis, Head of Business Development for Fidessa in Latin America, added: “We are delighted to add Banchile to our growing Latin American client base, demonstrating the strong demand for Fidessa solutions by domestic and international market participants. We are seeing a lot of activity in the Andean region with firms replacing legacy vendor and proprietary systems and investing in customizable, high-throughput, low-latency trading solutions to enable high-quality execution, greater operating efficiency and a solid basis for growth.”

Source: Fidessa, 22.01.2013

Filed under: Chile, FIX Connectivity, Trading Technology, , , , , , ,

Alternative Latin Investor: Wealth Management Issue 18

The Alternative Latin Investor Issue #18 is focusing on Wealth Management in Latin America.

Special Issue: Wealth Management

The World’s First Diamond Fund
Lack of Transparency in Colombia: Root Causes
LatAm Wealth Management Overview
Private Aviation Takes Off in Latin America
High-Tech Financial Technology Hits LatAm

…and much more. Regulations,  Tax & Money Laundering, Structured Finance, Political Risks,  Agri Business, Impact Investment, Wine Investment, Infrastructure, Art

Please view and access Issue 18  in the following formats

Virtual Viewer http://www.alternativelatininvestor.com/Issue18-Preview.htm

For more details and information please view http://www.alternativelatininvestor.com

Source: AlternativeLatinInvestor 18.10.2012

Filed under: Argentina, Banking, BM&FBOVESPA, Brazil, Chile, Colombia, Energy & Environment, Islamic Finance, Mexico, News, Services, Trading Technology, Wealth Management, , , , , , , , , , , , , , , , , ,

Fidessa on Latam Trading – Opportunities and Challenges

Electronic trading in Latin America continues to be a hot subject, with action moving beyond Brazil to other countries. Low-Latency.comspoke to Fidessa’s head of business development for the region, Alice Botis, to get an update, and a handle on low-latency initiatives in the marketplace.

Q: Can you start by some scene setting – where is the electronic trading action in the Latam market?

A: Electronic trading is already well established in ;Brazil, Mexico and Chile, and with the introduction of MILA, both Colombia and Peru have also adopted FIX order routing. Colombia has not yet opened their market to allow FIX connectivity to third-party network providers, but they are looking forward to making that available in 2012-2013.

In Peru, the decision to make FIX connectivity available to third-party network providers is still pending regulatory approval, but if approved, they expect implementation to move swiftly.

Buy-sides in Latin America have been slow to adopt electronic order routing, but where they have, they often still pick up the phone to have a conversation with the trader for local colour. But, by having electronic connectivity, the sell-side is able to enter the order into their OMS and send unsolicited notices of execution back to the client which minimises manual errors.

The move toward the adoption of electronic order routing in Latin America is significantly driven by the desire to attract international order flow and to make trading in Latin America as seamless as trading in other mature markets.

Q: Where does Fidessa have operations, and connectivity? What’s the latest news on that front?

A: Fidessa recently opened an office in Sao Paulo to serve our clients in Latin America, including Mexico. The office was opened to provide on-the-ground technical and production support to our local clients. Our plan is to continue building out the appropriate infrastructure to offer data centre hosting, hosted services such as a local ticker plant and a local network hub to facilitate North, South and local order routing and execution. We will also be hiring local staff to ensure support in both Spanish and Portuguese.

We currently have 21 receiving brokers in Latin America concentrated in Brazil, Mexico, Chile and Colombia, and we are in discussions with several others in the region to join the Fidessa network.

Q: What are the infrastructure challenges of working in Latam?

A: The greatest infrastructure challenges are being seen by international players looking to gain access to the local markets. There are many challenges, such as hardware and telecom acquisition, so they seek the expertise of local brokers, custodians and technology vendors to help them put the appropriate infrastructure in place to start trading.

It is important to understand the workflow the client is looking to facilitate to assure a balance of cost and speed. As demand in the region continues to increase, things will only get easier, and we can hope, with scale, less expensive.

Q: Focusing on Brazil, it looks like competition is heating up there with Bats and Direct Edge planning to take on BM&FBOVESPA. What opportunities does this open up for Fidessa?

A: With the introduction of fragmentation comes the increased responsibility for brokers to provide best execution to their clients. In some markets, the exchanges themselves will be mandated to provide aggregated quote data and routing to the best price, but even in these markets, brokers will compete for business by aggregating the data feeds and connecting directly to each market themselves to more quickly identify and access best price and volume.

Whether you are an international player who has experienced fragmentation in other markets or a local player who has never had to overcome this challenge before, there will be a significant investment in time and money to accommodate the data feed, connectivity and smart order routing requirements. Working with experienced vendors in other markets like Fidessa, who has worked with Bats and Direct Edge, can provide a time to market and cost advantage to implementing the required technology and infrastructure.

Q: Are Latam markets looking to invest in low-latency technologies and offerings in a similar way that markets in North America and Europe have? Is this ‘me too’ or are they learning from others’ experience and doing things differently?

A: Brazil, Mexico and Chile have all made significant investments in their exchange technology to provide lower latency, higher throughput execution for their participants, setting the stage for algorithmic and HFT participation in their market. Brazil is leveraging the experience and expertise of the CME by partnering with them for the implementation of their new multi asset trading engine. Chile has extended their proprietary technology along with partnerships with technology providers like IBM for their low-latency messaging, and Mexico ;is enhancing their proprietary technology to provide significant improvements to latency and throughput.

Brazil has seen the highest rate of clients seeking to set up local infrastructure to facilitate low-latency market access for algorithmic and HFT participation. But, there is a delicate balance that firms are trying to find between investment in low-latency technology and return on investment on that technology purchase. That said, the amount of high frequency trading participation in the region as a whole is still growing, so as volume continues to increase, so might the returns on those technology investments.

Q: What about regulatory oversight for all of these developments? Is there a MiFID in the works for Latam?

A: There is not currently a regional regulation such as MiFID or Regulation NMS for best execution in place because Latin America is not yet fragmented. However, each country does have its own regulatory rules in place to oversee the various different types of order flow and assure quality execution for retail transactions.

In Chile, for example, there are three exchanges that are not electronically linked. The brokers are not obligated to provide best price. As long as they demonstrate they are trading on the primary exchange, and provide the best price along with the executed price on the confirmation, they are in compliance with the local rules.

As fragmentation is undoubtedly coming to LatAm, I do believe you will see local regulators augment their current rules to protect their market participants.

Q: What do you expect to be some other specific developments in the coming year in Latam, for the markets and for Fidessa?

A: As far as market changes that might affect the region, the potential addition of Mexico to the Integrated Latin American Market (MILA) will certainly affect the development of the region. Mexico has already signed a letter of intent to join MILA, and if they do, it will further drive connectivity in the region and the need for trading systems to manage higher volumes and provide multi-regional orders and execution capabilities.

The region is very dynamic with growth, change and investment, and we are excited to be working with partners in the region who are driving the extension of our trading services to accommodate their growth and success.

Source: Low Latenency, 08.02.2012

Filed under: BM&FBOVESPA, BMV - Mexico, Brazil, Chile, Colombia, FIX Connectivity, Latin America, Mexico, Peru, Trading Technology, , , , , , , , , , , , , , , , , , , , ,

Fidessa opens São Paulo office in Brazil

Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world’s financial community, has today announced the expansion of its Latin American operations with a new headquarters in the region, new staff and data centers that provide resilient, redundant hosting.

The new office, located in São Paulo, Brazil, will serve as a base for the whole of Latin America and comes about as a direct result of Fidessa’s continued growth there, as well as from the ongoing demand for its products and services from domestic and international firms across the region. As well as cultivating and growing the local business further, the team based in São Paulo will also provide dedicated service and support functions for the regional client base.

The new office is headed by Bryan Miller, Managing Director for Fidessa’s Latin American business, who was previously Senior Vice President and Director of Hosted Client Services for Fidessa in the US. Miller’s background in implementation, project management, and ongoing support for Fidessa’s US clients, positions him well to ensure that the same market-leading levels of delivery and support, for which Fidessa is well known globally, are provided to clients locally as well.

Miller comments: “We are seeing increasing demand for our award-winning investment management, trading, connectivity and market data solutions from many emerging regions around the world. The markets of Latin America, in particular, are growing rapidly and have attracted significant interest from international players looking for opportunities in expanding economies. This is fueling the need for our solutions among both local and international firms looking to trade in the region.”

“Establishing this office is a clear sign of Fidessa’s commitment to the marketplace and we will be building the local team with a mixture of experienced Fidessa people from North America as well as local hires.” Continues Miller, “Latin America is an important strategic step for Fidessa globally, and I look forward to cementing and expanding our presence here to take advantage of the exciting opportunities that it presents.”

Source: Finextra, 17.11.2011

Filed under: Brazil, FIX Connectivity, Latin America, Trading Technology, , , , , , , ,

Fidessa Launches Sell-Side Trading Solution for Mexico

April 7, 2011,  TheTrade Fidessa launched a new platform for brokers tailored specifically for trading in Mexico, following the introduction of new market regulations in September 2010.

Fidessa clients will have functionality for trading across asset classes that is compliant with new routing and order prioritization rules introduced by domestic exchange Bolsa Mexicana de Valores (BMV) in conjunction with trade body the Mexican Securities Industry Association and Mexican regulator, the Comisión Nacional Bancaria y de Valores. Specific to Mexico, the platform allows brokers to establish multiple channels to the exchange using separate FIX connections and supports all the new order types made available by the changes to regulation.

According to the BMV, “Average daily orders in the Mexican cash market have increased threefold over the past year, and as global investors look to Mexican markets for new opportunities, we remain focused on improving functionality and trading rules. By working with a company such as Fidessa, which has developed solutions to address regulatory changes like MiFID in Europe and RegNMS in the US, we are taking another big step towards increasing foreign interest and investment in Mexico.”

Source, Fidessa 07.04.2011

Filed under: BMV - Mexico, Exchanges, FIX Connectivity, Latin America, Mexico, Trading Technology, , , , , , , , , , , , ,

Fidessa publishes White Paper on Development of Trading Technology for Latin America – Discusses Technology’s Role in Driving Trade Volume to the Region ­­­

Fidessa group plc the leading provider of trading systems, market data and connectivity to buy-sides and sell-sides globally, has today announced the publication of a new white paper on the increasingly critical role that technology plays in reinforcing wholesale markets and attracting foreign investors to Latin America. The paper, entitled The Development of Trading Technology for Latin America, stresses that as the pool of brokers becomes broader and deeper, more sophisticated technology will be required to compete.

Along with increasing political stability in LATAM, higher levels of consumer affluence and international interest in the potential value in its natural resources have secured LATAM’s emergence into the mature market trading world. Although the LATAM markets have their own particular features, specific regulatory issues and cultural practices, the implementation of technology used will almost certainly follow the same trajectories seen in the more mature markets of North America, Europe and Asia. This paper provides its readers with valuable insight into the future of this region’s forthcoming trading market as forecasted by Alice Botis, Head of Business Development for Latin America, Fidessa.

Botis says of LATAM: “An expanding middle class with attendant pension funds combined with a positive population growth trajectory, has encouraged the establishment of an investment management community and the consequent growth in both buy-side and sell-side institutions. From 2000 to 2010, for example, access to financial services in Mexico increased from 25 to 59 percent, according to a survey conducted by the Ministry of Finance and Public Credit (SHCP).”

She points out that the political and economic structures of the LATAM region are now considered stable and safe, as are their capital markets. The Development of Trading Technology for Latin America reinforces Fidessa’s contention that systems for resilient order management—which can handle inbound/outbound international order routing, target and hit appropriate liquidity, offer comprehensive algos and basket functionality upstream of the EMS, and aid compliance—will continue to penetrate further into the marketplace.

Botis adds: “Vendors are now extending functionality to meet regional market requirements, incorporating local market data into their trading platforms, building local market gateways and providing tools enjoyed by counterparts in other regions. Experienced technology providers are working with firms in LATAM to develop systems to meet their needs, to facilitate electronic trading, and to ensure that technology plays its part in the development of capital markets. Costly and time-consuming in-house development of proprietary systems is no longer necessary.”

The paper asserts that the question is no longer whether a firm should invest in technology but whether it can afford not to. The Development of Trading Technology for Latin America will also be available through the Fidessa website, www.fidessa.com, or by contacting us.info@fidessa.com.

Source: Mondo Visione, 03.11.2010

Filed under: Argentina, Brazil, Chile, FIX Connectivity, Latin America, Mexico, Trading Technology, , , , , , , ,

Fidessa Expands Access To Latin America With Connection To Santiago Stock Exchange of Chile

Fidessa group plc (LSE:FDSA), provider of award-winning multi-asset trading, portfolio analysis, compliance, market data and global connectivity solutions for the buy-side and sell-side, today announced its certification to provide access to the Santiago Stock Exchange (Bolsa de Comercio de Santiago).

The partnership is in preparation for the Santiago Stock Exchange’s forthcoming major trading engine upgrade that is being introduced to accommodate increasing volumes resulting from new DMA and algorithmic flows. Fidessa’s interface with the Santiago Stock Exchange will provide member firms access to electronically route orders to the exchange via the Fidessa trading platform or by directly leveraging Fidessa’s FIX connectivity. The connection will also provide Fidessa’s global clients with direct DMA access to the Santiago Stock Exchange.

José Antonio Martínez, CEO at the Santiago Stock Exchange, commented: “This partnership marks an important step in increasing direct market access for global firms looking for reliable connectivity into the region. The Santiago Stock Exchange is an undisputed cornerstone in Latin America’s capital markets and a benchmark for excellence among domestic and foreign investors. A technology partner such as Fidessa offers the quality and reliability we require to service both our local and global constituents.”

Alice Botis, Head of Business Development Latin America at Fidessa, adds: “We have worked hard to provide superior technology and customer service to clients in Latin America. By certifying with the Santiago Stock Exchange, we can provide valuable services such as direct market access, improved trade order entry and better algorithmic trading tools to global brokers and buy-sides who wish to trade more efficiently on the exchange.” The Fidessa connectivity network links over 2,400 buy-side institutions to more than 530 brokers and 130 markets around the world, providing a “one-stop-shop” for best execution services. Fidessa recently announced that it signed a deal to provide Celfin Capital in Chile with it’s hosted trading technology, and has also added over 16 valued Latin American brokers to its connectivity network including: Agora CTVM S.A, BES Securities, Casa de Bolsa Finamex, Celfin Capita, Credit Suisse Hedging-Griffo, Fator Securities, Grupo Bursatil Mexicano, ICAP Brazil CTVM, Interacciones Casa de Bolsa, Itau Securities, IXE Casa de Bolsa, Santander Investment Securities, Planner Corretora De Valores, Terra Futuros Corretora de Mercadorias S/A and XP Investimentos.

SOURCE: Finextra, 17.05.2009

Filed under: Brazil, Chile, Exchanges, FIX Connectivity, Latin America, Mexico, News, Trading Technology, , , , , , , , , , ,

Celfin Capital develops electronic trading capabilities with Fidessa

Leading Chilean broker adopts Fidessa’s trading solution and joins international trading network

Celfin Capital, one of the leading investment banks in Chile, today announced it has signed to take Fidessa’s hosted trading solution and join the Fidessa network .The partnership will allow Celfin Capital to receive Chilean and Peruvian equity flow, opening up an essential conduit to Latin American markets for brokers and asset managers globally.

Fidessa is the leading provider of multi-asset class trading, portfolio analysis, compliance, market data and connectivity solutions for the buy-side and the sell-side globally. Celfin Capital has adopted Fidessa for their electronic trading requirements along with built-in FIX connectivity to the Fidessa network enabling it to receive southbound electronic order flow. As part of the implementation Fidessa is building a direct link to the Bolsa de Comercio de Santiago for them.

José Antonio Labbé, CEO of the Brokerage House, Celfin says: “Celfin Capital has always strived to be a leader in the introduction of financial innovations to the markets in Chile and now in Peru, and through a number of key alliances we have been able to offer a wide array of derivative products and financial solutions to create a more liquid, transparent, and sophisticated financial environment for our clients. The upgrade of systems at the Bolsa de Comercio de Santiago gave us an opportunity to explore the possibilities of offering electronic order flow and onward routing capabilities and to develop truly international services for our clients. The partnership with Fidessa, and connectivity to the Fidessa network, are part of our overall goal to establish clear distinction between our services and those of our competitors, and to position ourselves as a leading broker in Chile.”

Celfin Capital chose to work with Fidessa primarily for the global reach of buy-side clients and member and non-member brokers on their network. Fidessa demonstrated the ability and readiness to work with Celfin Capital and evolve the solution in parallel with its business. Mr. Labbé continues: “In particular we were impressed by Fidessa’s willingness to build a direct link to the Bolsa de Comercio de Santiago for us, and the flexibility of their approach. It enables us to route orders from non-member brokers and creates a powerful proposition for global and local clients alike.”

Source: Bobsguide, 25.01.2010

Filed under: Chile, Exchanges, FIX Connectivity, Latin America, News, Peru, Trading Technology, , , , , , , , , , ,

Fidessa expands connectivity network with nine new Latin American brokers in Mexico and Brazil

Fidessa group plc, provider of award-winning trading solutions for the buy-side and sell-side, today announced the addition of nine brokerage firms, with operations in Brazil and Mexico, to its global connectivity network. This extends the range of order execution opportunities for firms looking to access the Latin America (LATAM) markets.

BES Securities, Credit Suisse Hedging-Griffo, Fator Securities, Grupo Bursatil Mexicano, ICAP Brazil CTVM, Interacciones Casa de Bolsa, Itau Securities, IXE Casa de Bolsa and XP Investimentos are now all available on Fidessa’s network, and join previously announced LATAM firms including Planner Corretora De Valores and Casa de Bolsa Finamex.

Access to these brokers’ services is available via direct FIX connection or fully integrated into Fidessa’s own products – including the Minerva OEMS and EMS Workstation for the buy-side, and its sell-side trading platform solutions.

Martin Hakker, EVP marketing at Fidessa comments: “We’re committed to expanding our global network to provide the broadest possible range of execution services on a global basis. We’re seeing increased demand in the LATAM region from both buy-side and sell-side firms as institutions in the region continue to embrace electronic trading technologies and international firms look to the region to expand the trading and execution services they can offer their clients.”

Hakker adds: “Having joined Fidessa’s network, these brokerage firms are now able to offer their market-leading DMA, care, and algorithmic trading solutions to both the buy-side and sell-side via one of the largest trading networks in the industry.”

Fidessa’s connectivity network links over 2,300 buy-side institutions to more than 400 brokers and 120 markets around the world, providing a “one-stop-shop” for best execution services. Fidessa group serves around 24,000 users across more than 730 clients around the world and are used by more than 85 per cent of tier-one financial institutions.

Source: Fidessa, 03.11.2009

Filed under: Brazil, Exchanges, FIX Connectivity, Latin America, Mexico, News, Trading Technology, , , , , , , , , , , , , , , , , , , , , , ,

Samsung Securities goes live with Fidessa’s Asian trading platform

Fidessa provider of the award winning trading, portfolio management, compliance and global connectivity solutions for the buy-side and sell-side, today announced Samsung Securities Company, one of the leading investment banks in Korea, has successfully gone live with Fidessa’s fully managed and hosted Asian trading platform for its newly established Asian investment banking operations in Hong Kong.


Samsung Securities (Asia), an affiliate of the Seoul-based company in Hong Kong, is considered to be a crucial component of its expansion plan across Asia, and will offer advisory services for capital raisings and acquisitions, stock trading and investment management.

By using Fidessa’s trading platform, Samsung Securities gets direct access to the Hong Kong Exchange for member trading, as well as connectivity to global markets, and over 400 brokers and 2,300 buy-sides through Fidessa’s global FIX network.


Eric Kim, Chief Technology Officer of Samsung Securities (Asia), said, “Selecting Fidessa’s Asian trading platform is an important strategic expansion decision for us. Fidessa’s global connectivity network, great timely delivery and expert service will enable us to become more competitive across the region and globally. “


Jean-Pierre Baron, Managing Director for Fidessa Asia-Pacific, said, “We congratulate Samsung Securities on successfully going live with Fidessa’s Asian Trading Platform. With our strong installed base and proven capabilities, we look forward to partnering with them in their expansion strategy across the region. Over the last 18 months, we have doubled the number of hosted clients in Asia Pacific and have created a very strong pipeline of prospects. We are confident that this trend will continue as the regional players move up to compete on the global stage.


Source: Fidessa, 22.09.2009


Filed under: FIX Connectivity, Hong Kong, News, Trading Technology, , , , , , ,

Fidessa expands Latin American reach with leading Mexican broker Finamex

Hong Kong, 10th September, 2009 – Fidessa group plc (LSE:FDSA), provider of the award-winning multi-asset trading, portfolio analysis, compliance, market data and global connectivity solutions for the buy-side and sell-side, today announced it has expanded its Latin American reach with the addition of Casa de Bolsa Finamex, S.A. Bursatil de C.V. (Finamex), a leading Mexican broker, to its FIX connectivity network.


There is marked interest in the global marketplace from all types of investors for cutting edge high tech services, with enhanced algorithmic trading functionality and other exotic access strategies such as statistical arbitrage and multi-asset basket trading.” said Hector Casavantes Gonzalez, Director of Electronic Trading Services at Finamex. “By joining the Fidessa global connectivity network, we’re able to offer our market-leading tools and services to both the buy-side and sell-side via one of the largest trading networks in the industry.”

Established in 1974, Finamex initially focused on the local money market. The firm’s rapid growth in Mexico led it to become one of the first Mexican brokers to expand into international markets. The firm is now a leading provider of a full range of electronic and traditional brokerage services in equities and derivatives to more than 50,000 clients globally.


Martin Hakker, EVP Marketing at Fidessa, commented: “Our clients have increasingly looked to expand their trading business into the Latin American markets with the use of electronic order delivery and execution. Through strategic partnerships with receiving brokers like Finamex, Fidessa continues to build its global network, providing our clients on both the buy-side and sell-side with the broadest access to global markets and to the leading brokerage services available within those markets. The addition of Finamex to our network provides our clients with access to a premiere suite of brokerage tools for the Mexican market as well as to the specialist regional expertise that Finamex offers.”

In the first half of 2009, Fidessa’s global connectivity network has continued to increase its traffic by over 20% and now carries flow with a value of $600 billion a month.  The addition of Finamex builds on Fidessa’s expansion into Latin America earlier this year when it added leading Brazialian investment bank Corretora De Valores.

There are now over 400 brokers available on the Fidessa network offering a mixture of both direct and algorithmic trading services to around, 2,300 buy-side firms across 120 markets globally.

Filed under: BMV - Mexico, Exchanges, FIX Connectivity, Latin America, Mexico, News, Trading Technology, , , , , , , , , ,

Fidessa Appoints Jean-Pierre Baron as Managing Director, Asia-Pacific

Hong Kong, 05 Aug 2009 – Fidessa group plc (LSE:FDSA), provider of the award winning trading, portfolio management, compliance and global connectivity solutions for the buy-side and sell-side, today announced the appointment of Jean-Pierre Baron as Managing Director for the Asia-Pacific (ex-Japan) region. Mr. Baron is based at Fidessa’s Asia headquarters in Hong Kong and reports to Chris Aspinwall, Chief Executive of Fidessa group in London.

Mr. Baron will bring Fidessa extensive management and business development experience in Asia as well as the financial software sector, where he has a background of over 20 years working with central exchange systems and front office trading applications.

In this role, Mr. Baron will take overall responsibility for Fidessa within Asia-Pacific and expanding the company’s client base and operations across the region.

Commenting on the appointment, Chris Aspinwall, CEO of Fidessa group, said, “Asia is an important and exciting growth region for Fidessa and we are extremely pleased to have JP joining the strong team that we already have in place. With his extensive experience of growing businesses in Asia and his insight into the trading marketplace that exists there, we believe that the combined team can drive our established Asian business forward and further develop Fidessa’s footprint across the region. ”

Prior to Fidessa, Mr. Baron worked for GL Trade where he was the founder of their Asian operations and spent 10 years growing its trading solutions business in the region. He started his career at Arthur Anderson before joining the Paris Stock Exchange. Mr. Baron holds a MBA degree from the University of Connecticut.

Fidessa’s products serve around 24,000 users across over 730 clients around the world and are used by over 85% of tier one financial institutions. Fidessa’s network provides connectivity to over 2,300 buy-sides and 400 brokers across 120 markets globally.

Source: Fidessa, 05.08.2009

Filed under: Asia, FIX Connectivity, Hong Kong, News, Trading Technology, , , , ,

Fidessa Interim Results – Fidessa revenue up by 36% in turbulent markets

“Fidessa has delivered high growth during the first half of 2009. This growth has benefited from the weakness of sterling during the first half compared to the prior year but even at constant currency the underlying growth rate is still strong.
Generally, stability has started to return to the market during the first half of 2009 although cost pressure on some of our customers, combined with volatile exchange rates, are still making conditions difficult to predict. Overall, we have been able to make good progress across both existing accounts and new business lines, particularly where some of our customers are now  gearing up to take advantage of the opportunities that are arising as a result of the improving  markets. However, where customers are experiencing challenging conditions we are seeing some impact as these customers look to reduce their costs or explore strategic options.
In the short-term, the impact of structural changes within the industry, coupled with movements in exchange rates, makes the future difficult to predict. However, based on what we are currently seeing, we believe that we can deliver strong growth for 2009 as a whole, although we do not believe that the overall rate of growth for 2009 will be as high as that seen during the first half particularly when the impact of recent currency movements is taken into account.

Fidessa reports strong growth despite unpredictable markets. Fidessa Numbers H1 09

Highlights for the period ended 30th June 2009:
• Revenue up 19% and adjusted operating profit up 22%, both at constant currency.
• Recurring revenue now accounting for 81% of total revenue.
• Cash of £25m and no debt.
• User numbers growing and transaction volumes increasing over network.
• New contract wins across buy-side, sell-side and central markets.
• Strong growth in consultancy revenue.

Source: Fidessa, 03.08.2009

Filed under: FIX Connectivity, News, Trading Technology, , , , , , , ,

Fidessa Launches Global Analytics Platform

Hong Kong, 24th June 2009 Fidessa group plc (LSE: FDSA), the leading provider of trading, market data and global connectivity solutions, has today announced the launch of its new global analytics platform that enables users to conduct complex, real-time pre-trade, intra-day and post-trade calculations from multiple data sources. The analytics platform is available seamlessly integrated with the Fidessa OMS, program trading and BlueBox algorithmic engines, or installed with interfaces to any third-party trading, risk management or reporting application via a software licence.

David Sobolewski, business manager for analytics at Fidessa in the US, comments: “As the trading requirements of buy-sides become more sophisticated, the need for brokers to extend their level of service, and to measure and report their performance, increases. Building on Fidessa’s existing analytics capabilities, this new platform provides firms with the tools they need to deploy new analytics by leveraging Fidessa’s calculations, dataset or other data sources. Firms are also able to create new ways of marketing their trading expertise – for example, using alpha capture techniques to add significant value to the services they can offer their clients.”

The analytics platform enables users to take advantage of pre-packaged analytics including “Multi-listed VWAP Since Order Taken”, “Estimated Time to Completion”, and “Estimated Market Impact over multiple trading periods”. Alternatively, users have the flexibility to adjust the pre-packaged analytics or build their own customized, proprietary calculations within the analytics framework. The ability to offer tailored calculations on a client-by-client basis helps firms to differentiate themselves from their competitors, attracting new business opportunities while retaining existing business by providing greater transparency when working their orders.

Philip Slavin, head of European product strategy at Fidessa, adds: “This new platform also allows model builders to incorporate these analytic calculations into their algorithmic trading engines and smart order routers. In addition, the platform can provide real-time performance reporting and transaction cost analysis to the buy-side, and is built on an open architecture enabling firms to add new analytics programmatically.”

In addition to displaying and reporting analytic calculations, the platform generates alerts on outlier events as part of the workflow, and also provides traders with a single-view dashboard to facilitate the use of the derived data to enhance their decision-making process.

The Fidessa product suite provides integrated trading, market data and connectivity solutions to more than 22,000 users at around 630 clients worldwide, and serves more than 85 per cent of global, tier-one brokers.

Source: Fidessa, 24.06.2009

Filed under: Data Management, Market Data, News, Trading Technology, , , , , ,

LIM Advisors goes live with Capstone™ from Fidessa LatentZero

Hong Kong, 22 June 2009 – LIM Advisors Limited, the Asian-based multi-strategy investment group with approximately US$900 million in assets under management, has successfully gone live with Fidessa LatentZero’s front office suite, Capstone™. More than 20 team members in LIM’s Hong Kong headquarters are now using Capstone to support portfolio management, compliance, trading, and operations.

LIM has fully integrated Capstone with its front and middle offices to produce a seamless workflow.  This integration includes live market data for enhanced analysis, in-house compliance rules for pre-trade checks, FIX network for electronic trading, and straight through processing to LIM’s accounting platform and third party administrator.
George W. Long, the Founder and Chief Investment Officer of LIM Advisors said, “We wanted to build an institutional architecture to support all of the asset classes in our multi-strategy business.  Fidessa LatentZero’s functionality across equities, funds, listed derivatives, FX, fixed income, and OTC products has delivered.  We have also developed an excellent partnership with Richard Jones and his team, and I look forward to working with them more in the future.”

Richard Jones, CEO for Fidessa LatentZero, said, “We are continuing to develop our front office solutions for all types of asset managers, and this implementation is a further demonstration that Capstone is as well-suited to specialist managers as it is to the larger global asset management firms.  Asia is an important focus for us, and we are pleased to be partnering with one of the leading Asian asset managers as we look to consolidate our position in the region.”
Capstone is a fully integrated front-office position analysis and trading solution that provides support for all asset classes, including OTC derivatives, with real-time positions and P&L, integrated market data, order management and trading, and integrated compliance in one easy-to-use application.

Source: Fidessas, 22.06.2009

Filed under: Countries, Data Management, FIX Connectivity, Hong Kong, Market Data, News, Trading Technology, , , , , , ,