ICICI Securities Joins Fidessa’s Connectivity Network
Fidessa group plc (LSE: FDSA), provider of high-performance trading, market data and global connectivity solutions for the buy-side and sell-side, has announced February 21 that ICICI Securities Ltd., an integrated securities firm based in India, has joined its global connectivity network. The deal enables ICICI Securities to receive international Care and DMA flow from the 2,400 buy-sides and 600 sell-side firms already connected to the network, and enhances the ability of Fidessa’s worldwide community to access India’s rapidly evolving markets.
A Murugappan, Executive Director, ICICI Securities says: “Over the past few years, the Indian capital markets have witnessed a real transformation; the growth of electronic trading continues unabated and volumes on the BSE and NSE have grown significantly. By joining Fidessa’s global trading community, we will be able to offer all members our specialist knowledge on the Indian capital markets along with access to critical exchanges.”
Enis Toumi, Connectivity Sales at Fidessa in Asia, says: “India is emerging as an increasingly important part of the Asian marketplace, drawing a growing appetite from overseas investors seeking out new trading opportunities. Recently, exchanges and regulators have introduced radical change with the introduction of DMA, algorithmic trading, co-location and SOR, which have all helped open up the space to new players. We are delighted, through the Fidessa network, to contribute to the growth in Indian market access and expand the reach from overseas. On-boarding a company of ICICI’s scale and reputation expands the depth and quality of our local coverage and will please international firms requiring fast, reliable remote access.”
ICICI Securities joins more than 20 Indian sell-side firms on Fidessa’s network, which covers 150 markets across EMEA, Asia Pacific and the Americas. The Fidessa trading network is one of the world’s most wide-reaching and powerful trading networks, which allows members to extend their trading business by attracting international flow and now carries executed order flow of more than US$800bn each month.