Published On: Wed, Jul 6th, 2011

Okasan Securities Selects Fidessa’s Japanese Trading Platform

Fidessa group plc, provider of high-performance trading, investment management and information solutions for the world’s financial community, announced July 4 that Okasan Securities, an independent securities company in Japan, has selected Fidessa’s Japanese trading platform to trade Japanese cash equities and derivatives.

Since the launch of arrowhead, Tokyo Stock Exchange’s next generation high-speed trading system, the infrastructure has been changing dramatically in the Japanese equities markets. There is now a low-latency trading environment with millisecond order processing and huge order throughput in the main exchange, and the changes have also attracted new liquidity from high frequency traders. The trading volume of PTSs like Chi-X Japan and broker dark pools has risen too. In particular, the demand for algorithmic trading has increased and it is now necessary for securities companies to deploy algorithmic trading systems for agency trading.

Norihiko Funatsu, former senior general manager, Equity Dept. at Okasan Securities, comments: “There are three main reasons why we decided to select Fidessa’s Japanese trading platform as our next trading system. First of all, the trading platform fits us perfectly to achieve our target of building a comprehensive algorithmic trading platform. We placed importance on the fact that BlueBox, Fidessa’s algorithmic trading engine, is fully integrated into the trading platform and has a strong reputation in the market. Secondly, we liked Fidessa’s unrivalled experience in global markets trading and the fact that we could use Fidessa’s FIX connectivity network as a tool to access global markets easily. Thirdly, Fidessa has a strong track record with domestic clients and the capacity to deal with changes in the Japanese markets. We look forward to working with Fidessa in these fast changing Japanese markets.”

Ian Chilton, chief executive of Fidessa in Japan, comments: “It is our great pleasure to announce that Okasan Securities has selected Fidessa’s Japanese trading platform. While the Japanese market is currently going through fundamental structural change, we are strategically emphasizing our state-of-the-art trading technology for domestic clients. The exchanges and alternative venues are evolving and enhancing their trading systems all the time, and we continue to support our domestic clients by insulating them from the constant system upgrades to this trading environment.”

Fidessa’s global products and services support around 26,000 users across more than 900 clients worldwide and are used by around 85 per cent of tier one financial institutions. Fidessa’s global network provides connectivity to more than 2,400 buy-sides and 600 brokers across 150 markets around the world.

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