Published On: Thu, Jan 14th, 2010

Leading Japanese Brokers Live on TSE arrowhead with Fidessa

Fidessa group plc (LSE:FDSA), provider of award-winning trading, portfolio management, compliance and connectivity solutions for the buy-side and sell-side globally, today announced that the majority of Japan’s leading brokers are now trading on the Tokyo Stock Exchange’s (TSE’s) new “arrowhead” system using Fidessa. arrowhead is the next-generation trading system developed by the TSE for its cash equities market and is designed to offer ultra-low latency and high-throughput access to satisfy the increasing demands of sophisticated trading institutions and high frequency traders. arrowhead went live on 4th January this year.

Fidessa has been working closely with the TSE over the last 12 months to test arrowhead and to ensure that the Fidessa trading platform is fully compliant with, and utilises all the advantages of, the new API. As a result, Fidessa clients receive the full benefit of all arrowhead’s performance capabilities coupled with Fidessa’s unrivalled functionality and its unmatched levels of service and reliability. Fidessa’s solution was recently independently verified to provide the lowest latency, highest throughput and most resilient access to international as well as local markets in Japan when compared to competitors in this marketplace. Fidessa also now provides ultra-low latency arrowhead data feed handlers along with its execution handlers, proven Japanese algorithms and risk management tools – which are all fully integrated with an embedded FIX API direct to the market gateways to provide the lowest latency possible for trading the Japanese markets.

Ian Chilton, Chief Executive of Fidessa in Japan, comments: “The majority of the leading brokers in Japan use Fidessa as their execution platform and I’m pleased to say all our clients, were able to go live seamlessly on day one of the new arrowhead system. Many are also making use of the TSE’s new co-location service with Fidessa, to ensure they have the fastest possible trading platform technology in the closest possible location, and so achieve the lowest latency access available to this new market.”

The launch of arrowhead is also expected to radically change the landscape for trading in Japan by fuelling further the demand for algorithmic trading systems, as well as stimulating interaction between the main exchanges and alternative dark and lit trading venues – such as brokers’ dark pools and proprietary trading systems (PTSs).

“One of the benefits of the proven Fidessa solution is that we already have ultra-low latency links to all the alternative trading venues in place, so clients can leverage the liquidity available there alongside the main exchanges with ease”, adds Chilton. “Fidessa also provides clients with integrated analytics as well as a suite of advanced trading tools which are seamlessly integrated into our main trading platform – such as Fidessa BlueBox, our market leading algorithmic trading engine.”

The TSE’s arrowhead system is one of the most significant market developments to hit Japanese equities trading and, in order to take advantage of the opportunities presented by this, sell-sides will need the highest performance technology with the most comprehensive functionality.

“Fidessa’s architecture has been adapted to meet the demands of arrowhead with new trading gateways and market data feed handlers. We have combined our local in-depth market and technology knowledge with the experience we have gained as the leading trading system supplier in the North American and European markets to ensure we remain at the forefront of trading and data solutions here in Japan”, concludes Chilton.

Fidessa’s global products and services support around 24,000 users across more than 730 clients worldwide and are used by more than 85 per cent of tier one financial institutions. Fidessa’s network provides connectivity to more than 2,300 buy-sides and 400 brokers across 120 markets around the world.

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