Reuters teams with Peresys for South African cross border equities trading

Source: Reuters

Global information company Reuters, (LSE: RTR.L, NASDAQ: RTRSY) today announced an agreement with Peresys, a South African based equities trading solutions provider to the financial markets, to link the two parties electronic trading communities to enable cross border trading both into and out of South Africa.

The partnership is now live and new clients have signed up for the service.

Through Reuters Order Routing network (ROR), Reuters offers a user-friendly trading solution that quickly and seamlessly links Reuters growing global community of institutions, broker-dealers and execution venues via an open and neutral order routing hub.

The Peresys Network includes a hosted FIX hub and spoke solution in Johannesburg as well as points of presence in London and New York to enable bi-directional order routing and direct market access for the South African trading community. The solution caters for all widely used versions of the FIX protocol, spanning equities, fixed income, and derivatives instruments.

With the link to the Peresys network, ROR users now have access to the South African market, while ROR brings Peresys users access to Reuters global network of around 200 brokers and 500 buy-side institutions. Several new clients have already signed up, with the first South African client being African Harvest Fund Managers, a leading asset management house. ABN Amro is one of the first major clients to join the service to give them direct market access into South Africa.

Leigh Henson, Director of Institutional Equities at Reuters comments: "We're very pleased to have joined forces with Peresys as the relationship plays to both parties' strengths. By combining Peresys strong local presence with Reuters global equities trading community, this relationship grows our global trading platform and enables easy access to route into South African Brokers."

According to Peresys Managing Director Ashley Mendelowitz, "We have always had a great relationship with Reuters and the connection to ROR gives our South African buy and sell-side customers yet another option in reaching their global trading counterparties for order routing and direct market access utilising the FIX protocol."

Both buy-side institutions and broker-dealers can access a wide range of institutional and equities program trading desks worldwide via Reuters order routing capabilities, including advanced trading functionality from execution venues and algorithmic trading tools from the world's top brokers.

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