Fidessa Group plc (LSE: FDSA), the world leading provider of multi-asset trading systems, market data and global connectivity solutions, today announced the addition of connectivity to Instinet Japan Limited's PTS - Dark Liquidity Pools, algorithms and direct market access (DMA) platform.
With Instinet in Europe, Canada and the U.S. already members of Fidessa's connectivity network, today's announcement now allows Fidessa users to directly access Instinet Japan's electronic execution suite. This access is available through the Fidessa trading platform, Fidessa LatentZero EMS Workstation and Fidessa LatentZero Minerva buy-side OEMS, as well as via direct FIX connectivity.
As a result of the agreement, Fidessa users are now able to access Instinet Japan's full suite of algorithms, global DMA platform (which provides access to over 50 securities markets worldwide), and two dark liquidity pool platforms offered under the firm's Japanese PTS (proprietary trading system) license. These are JapanCrossingTM, Japan's largest off-exchange liquidity pool for institutional investors crossing Japanese equities, and CBX Japan, a 24-hour alternative venue that allows traders to negotiate and trade large blocks of stocks with counterparties at mutually agreed prices. CBX Japan is the only such system that enables institutions to trade any global security regardless of the time.
Christian Chan, Instinet's head of electronic trading, Asia, says: "Having established a relationship with Fidessa in Europe, we are pleased to extend the scope to Asia, which will allow users to benefit from our deep pools of off-exchange liquidity and robust global execution platform."
James Hardcastle, head of Asian broker network at Fidessa adds: "The addition of Instinet, the largest source of alternative connectivity in Asia, to our network will help our users through the increasingly difficult challenge of obtaining liquidity. We are committed to offering our clients local expertise in the Asian markets and the widest choice of trading venues."
Fidessa's global, broker-neutral connectivity network provides a fully normalised, robust solution for clients wishing to route order flow to a variety of sell-side destinations. Typical uses of the network include buy-sidee to sell-side connectivity and broker-to-broker connectivity to support non-member trading across numerous markets.
Fidessa's global network carries over 50 million messages a month covering DMA, care and algorithmic orders, Indications of Interest (IOIs) and FIX Allocations between over 1,300 buy-sides and 230 brokers across 82 exchanges worldwide.