Fidessa group plc (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero trading, market data and global connectivity solutions, has announced that IND-X Securities Limited has launched its operations using Fidessa LatentZero's EMS Workstation to provide execution services, initially for Japanese equities trading.
A subsidiary of Tokyo Stock Exchange-listed Japaninvest Group plc, Japan's largest independent research house, IND-X Securities is a new securities firm established to provide a broker neutral, unconflicted execution hub for buy-side firms trading Japanese stocks.
IND-X Securities' team of experienced execution sales professionals will receive client order flow through the Fidessa LatentZero EMS Workstation, then routed to the market via Fidessa's global connectivity network which provides buy-side clients with access to the care, DMA and algorithmic trading services of 230 brokers worldwide.
Launched in November, IND-X Securities aims to provide clients with cost-effective, unconflicted execution services, along with a cutting edge commission management product. IND-X currently provides execution services for Japanese stocks but plans to add Asian and UK market execution in the first half of 2008.
Peter Twist, CEO of IND-X Securities commented: "Our aim is to provide a sensibly-priced execution venue for smaller research firms. Using Fidessa LatentZero's EMS solution and the skills of our experienced execution specialists, we can level the playing field for the smaller sell-side firms, providing them with access to a broad range of execution venues at a reasonable cost. As more and more venues open up in the post-MiFID trading environment we will be able to route client orders to these venues to ensure continuing compliance with clients' best execution policies."
Richard Jones, CEO of Fidessa LatentZero says: "We are delighted to welcome IND-X as a new customer and user of our EMS Workstation solution, which is gaining increasing popularity in the market largely due to its broker neutrality, global coverage and ASP delivery model. It is a very quick way for any asset manager to achieve market connectivity to brokers, DMA and algorithms".
Fidessa LatentZero EMS Workstation is also available as a fully integrated part of the Capstone Minerva™ Order and Execution Management System (OEMS), the market's first single system to provide comprehensive OMS and EMS functionality in one application.
The product was launched in 2005 and is now used by over 130 firms.