Fidessa group plc (LSE: FDSA) has announced the extension of its existing partnership with CIMB Securities (CIMB), an international securities arm of ASEAN’s universal banking groups, according to a Fidessa statement.
The new augmented partnership will focus on the provision of regional growth to CIMB’s derivatives trading platform. More specifically, this includes lower latency access to Asian derivatives markets via the group’s colocation capabilities with the SGX. Fidessa will now be able to execute its own sovereign direct market access (DMA) trades.
According to Justin Llewellyn-Jones, Global Head of Derivatives at Fidessa, in a recent statement on the expanded partnership: “Interest in Asian derivatives is on the rise with exchanges, clearing houses, brokers and vendors all making significant moves in the region,” he said. “CIMB’s implementation of an integrated system will enable their local, regional and global clients to participate fully in global markets in any way they choose, and take advantage of our real-time monitoring and reporting capabilities as well as our sophisticated algorithms and controls.”
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“The addition of the new derivatives platform from Fidessa not only extends the value CIMB provides to both our high-touch and low-touch DMA business lines, but also enables us to realize our goal of offering multi-asset electronic trading capabilities to our clients. Fidessa’s technology has been integral to the provision of sophisticated, robust trading capabilities to our clients regardless of where they may be domiciled, and we are confident that they will continue to support our business as successfully as they have done over the past eight years,” added Carol Fong, Chief Executive Officer of CIMB Securities, in an accompanying statement.
“Managing execution in Asia has always been a nuanced business. There is a tremendous velocity of regulatory and technical change across all jurisdictions. On top of this, buy-sides require flexibility in how their orders are handled. We are delighted that CIMB has recognized the benefits of our offering and we look forward to deepening our relationship with them,” noted David Polen, Global Head of Electronic Execution at Fidessa.
Last month, Fidessa group released its Sentinel Trading Compliance (STC) system, a utility that helped streamline a range of functions for asset managers to manage trading operations and risk. The STC system is also compatible with Fidessa’s existing Sentinel Portfolio Compliance system – the fundamental difference with the STC system is the improved emphasis on risk management controls that its current portfolio systems suite cannot achieve alone.