Fidessa Group Plc (LSE: FDSA) has announced today that China Merchants Securities (CMS) is live on Fidessa’s managed and outsourced Asian trading platform, having upgraded from its previous system.
Back in August 2014, Fidessa had announced that five Hong Kong-based brokers will be the first participants in a new technological venture linking stock markets on the Chinese mainland with their counterparts in Hong Kong.
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Following that initial foothold in China, CMS is now using Fidessa as its strategic platform for the Hong Kong market, which it chose for its integrated global FIX network, algorithmic trading engine and post-trade allocations and commission calculation capabilities.
The new platform is fully integrated with CMS’s own internal systems as well as a number of other third-party networks and systems. Danny Hung, assistant president of CMS, commented: “Being one of China’s major players in the Hong Kong market, innovation is very important to us to continue to offer a premium service. Fidessa’s solution allows us to offer a seamless trading experience to our clients, and importantly it can also scale with us as we continue on our journey of expansion in Asia. Fidessa knows Asia as well as we do, which was an important factor in choosing their platform.”
Jean-Pierre Baron, managing director of Fidessa in Asia, added: “Fidessa has performed strongly in Asia over the past 12 months. This latest implementation is a reflection of the hard work we’ve put into adapting our platform to the local environment…Our solution is now used by the leading China players in the Hong Kong market who view Fidessa as their partner of choice to help expand their businesses. We have performed well in this segment of the market and we are honoured to be bringing value to CMS as well as to be considered as a new strategic partner to them.”