MF Global FXA Securities Goes Live With Fidessas Japanese Trading Platform
Fidessa group plc, provider of the award winning trading, portfolio management, compliance and global connectivity solutions for the buy-side and sell-side, announced April 21 that the Tokyo branch of MF Global FXA Securities Ltd, a leader in global derivatives trading, has successfully gone live with Fidessa’s Japanese trading platform for its newly established Japanese equities business.
MF Global FXA Securities (Japan), a wholly owned subsidiary of MF Global group (and a registered financial instruments business operator securities company), had previously been very active in margin FX trading in Japan and has now expanded into a high quality research driven equity brokerage business, with plans to expand further into the full range of OTC and listed derivatives services, including CFDs.
The introduction of a new service focusing on Japanese equities research and the need for an efficient direct execution route for client orders, prompted the decision to implement Fidessa’s fully managed and hosted trading platform, enabling MF Global FXA Securities to offer automated electronic equity trading on the Japanese market.
Graham Elliott, Chief Executive at MF Global FXA Securities, said, “Selecting Fidessa’s Japanese trading platform was an important strategic decision for our new start-up business here in Japan. Fidessa’s rich functional line, time to market for its product delivery and the cost effectiveness of its hosted solution were key factors in our decision.”
Ian Chilton, Chief Executive of Fidessa in Japan, commented, “We are pleased to see MF Global FXA Securities successfully going live with the Japanese trading platform. With our proven track record of serving the Japanese domestic equities market, we look forward to working with MF Global and are confident that we can contribute to their business expansion.”
“The recent launch of arrowhead by the Tokyo Stock Exchange is expected to bring fundamental changes to the structure of the equity trading landscape in Japan. Fidessa’s high performance, low latency trading platform is designed to ensure that all tiers of the Japanese brokerage community can compete effectively in this post-arrowhead era”, added Chilton.
Fidessa’s global product and services support around 25,000 users across more than 850 clients worldwide and are used by more than 85 per cent of tier one financial institutions. Fidessa’s network provides connectivity to more than 2,400 buy-side and 530 brokers across 130 markets around the world.