Fidessa group (LSE: FDSA), provider of trading, portfolio management, compliance and global connectivity solutions for the sell-side and buy-side, today announced that Mirae Asset Securities (HK) Limited, a wholly-owned subsidiary of the Mirae Asset Financial Group, has selected Fidessa's fully managed and hosted Asian trading platform for their institutional equity trading business.
Mirae Asset Financial Group is one of the world's largest independent financial groups, specialising in investment in emerging markets with a strong research team providing comprehensive coverage of both global and regional equity markets. Mirae Asset Securities (HK) Limited will use Fidessa to enable direct access to the Hong Kong Exchange for member trading as well as for connectivity to other Asian markets, and will benefit from significant improvements in efficiency, performance and reduced latency.
K.Y. Lee, Chief Executive Officer at Mirae Asset Securities (HK) Limited, comments: "Selecting Fidessa's Asian trading platform is an important strategic decision for us. We are taking this opportunity to upgrade our platform in order to expand the breadth of our business offering in Asia Pacific and prepare for the resurgence of the markets in the coming years. A key advantage of moving to Fidessa is that it can accommodate the growth of our business, as well as enable us to add more sophisticated trading tools in the future. This, combined with Fidessa's global connectivity network, will enable us to connect to brokers in established and emerging markets across Asia Pacific and offer improved services and capabilities to our clients."
Nevin Price, Regional Manager for Fidessa Asia, said: "We are delighted to welcome Mirae Asset Securities as our tenth hosted trading platform client in the Asia Pacific region. We look forward to working closely with them in order to assist in achieving their business goals. This is a further validation of our investment and progress in the region where we have built a first class reputation for powerful trading solutions coupled with an extensive global distribution network. Fidessa remains fully committed to providing our clients with the sophisticated solutions they require to maintain their competitiveness within the current economic cycle."
The Fidessa product suite provides integrated trading, market t data and connectivity solutions to over 22,000 users across 630 clients around the world, and serves more than 85% of global, tier-one equity brokers. The Fidessa network provides connectivity to around 2,200 buy-side institutions, 360 brokers and 115 markets worldwide.