Published On: Thu, Aug 19th, 2010

Fidessa Provides Access to Chi-X Japan

Fidessa group plc (LSE: FDSA), provider of high performance trading, connectivity and market data solutions for the buy-side and sell-side, today announced its global FIX network’s connectivity to Chi-X Japan. This will allow users of Fidessa’s trading products, as well as clients connected to Fidessa’s global network, to access the liquidity and market data available from this new venue.

Chi-X Japan, a subsidiary of Chi-X Global, is the first Chi-X venue to launch in Asia and the latest PTS (Proprietary Trading System) in the Japanese equity market. With proven core technology that has driven improvements in investors’ ability to achieve best execution, Chi-X Japan’s flexible, efficient, latest-generation matching engine serves as the foundation for the alternative trading venue for broker-dealers and their end investors. The launch of Chi-X Japan also coincides with the Japan Securities Clearing Corporation (JSCC) commencing clearing operation on PTS transactions.

Joseph Meyer, Representative Director for Chi-X Japan, said: “We are very pleased to be joining Fidessa’s global community. This will give brokers who are already on the Fidessa network the opportunity to access our execution venue without the need to establish a separate physical line into Chi-X Japan. We are committed to working with the trading community to bring further innovation and new trading activity to the Japanese capital markets.”

Hiroshi Matsubara, Marketing Director for Fidessa in Japan, commented: “We are very excited to welcome Chi-X Japan as an execution venue on our Fidessa global network. The launch of “Arrowhead”, Tokyo Stock Exchange’s new high performance trading system for cash equities, earlier this year, has started a brand new era for high-performance / low-latency trading in Japan. The Japanese market is currently going through fundamental structural change and this is expected to bring more liquidity from the High Frequency Trading (HFT) community. Further development of PTS operations will be key in soliciting further liquidity into the Japanese equities market, and incumbent exchanges will also benefit from this total increase in liquidity flow. Fidessa is committed to continue expanding the market coverage of its global network and to meet the demands of the trading community with advanced trading tools such as SOR (Smart Order Routing). Chi-X Japan is expected to take a leading role and be a further catalyst for change in the Japanese markets.”

Fidessa is hosting a client seminar on 25th August 2010 in Tokyo where a panel with industry experts will discuss and explore the new challenges for achieving best execution in the Japanese market. A representative from Chi-X will be one of the panellists at this event.

Fidessa provides connectivity to more than 2,400 buy-sides and 550 brokers across 142 markets globally. Fidessa’s products serve around 26,000 users across 900 clients around the world and are used by more than 85 per cent of tier-one financial institutions.

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