Indian Broker Quant Broking Joins Fidessas Global Network
Fidessa group plc (LSE: FDSA), provider of award-winning trading, market data and global connectivity solutions for the buy-side and sell-side, announced March 8 that Quant Broking, one of the leading brokers in India, has joined its global connectivity network. Quant will now be able to receive CARE and DMA flow from over 2,400 buy-sides and 530 brokers that connect to Fidessa’s network around the world.
Jean-Pierre Baron, Managing Director for Fidessa Asia-Pacific, comments: “Despite the difficult prevailing conditions, Fidessa is still increasing its client base across the Asia-Pacific region. Both local brokers and regional offices of international firms are connecting to the Fidessa network to receive order flow. We are continuing to invest heavily in our global connectivity network and are delighted that Quant’s Indian market expertise is now available to all our clients, many of whom are keen to capitalise on India’s dynamism and potential, and take advantage of DMA access which has recently been permitted by the Indian stock exchange.”
Sandeep Tandon, MD and CEO of Quant Capital, comments: “We are on the doorstep of a paradigm shift for the Indian market whereby technology and speed are of increasing importance to the end-user. We anticipate significant demand for DMA and algorithmic trading for the Indian market in the near future. We are excited to partner with Fidessa’s global platform to reach out to a global client base and take our business to the next level.”
In 2009, Fidessa’s global connectivity network increased its traffic by 40% and now carries flow with a value of around $640 billion a month.