Fidessa group (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero trading, market data and global connectivity solutions, has today announced that IS Investment, the investment banking arm of leading Turkish bank, Isbank, has joined its global connectivity network.
IS Investment is the largest investment house in Turkey and is ranked first in terms of transaction volumes on both the Istanbul Stock Exchange (ISE) and Turkish Derivatives Exchange (TurkDEX), executing approximately 60,000 futures and stock DMA orders every day. It will now extend its DMA services to a diverse community of investors and prime brokers across Fidessa's global network which provides access to more than 300 brokers, 1,800 buy-side institutions and 100 markets globally.
Serkan Aran, Head of Cash and Futures Trading at IS Investment said: "We differentiate ourselves from the competition through innovation and initiating new products and services, and we are committed to being the forerunner in the development of Turkish capital markets. The role of electronic trading is set to expand significantly in Turkey, and our relationship with Fidessa will ensure that we will lead this trend, enabling us to offer our execution capabilities coupled with very strong expertise across the Turkish market to both buy-side and sell-side firms on that network. IS Investment and Fidessa are leaders in their respective sectors and we believe that the partnership between two such strong companies will offer qualitative and quantitative benefits to our customers."
Simon McDowell, Director of Connectivity at Fidessa, adds: "The collaboration between Fidessa and IS Investment extends the benefits of DMA execution on both the ISE and TurkDEX to the community of investors keen to take advantage of the Turkish capital markets' dynamics and potential. We continue to invest heavily in developing our global connectivity network and are delighted to welcome IS Investment. Its Turkish market expertise will be a great addition to the range of services we offer our clients."