CMB International (CMBI), the Hong Kong-based subsidiary of China Merchants Bank, has selected Fidessa’s solutions to provide its clients with market data and low-latency access to more than 60 futures, options, equities and FX markets around the world.
Fidessa’s OEMS system will be going live across the Asian sector of CMBI since it required a solid platform as well as a solution that operated front-to-back. The company offers a wide range of brokerage services, with securities trading being a key service for both domestic and international clients.
CMB International is the eleventh Asian broker company to opt for Fidessa, among 25 local and international firms using its Asian trading platform in Hong Kong.
Under the terms of the agreement, CMBI is enhancing its futures and options agency trading business by tapping Fidessa’s workflow capabilities, centralised order management and execution system.
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The agreement with CMBI is the latest in a spate of deals since the trading software maker expanded into the derivatives market, culminating in partnerships with Citi, Nomura and Newedge, amongst others. Fidessa’s derivatives trading platform is now deployed by more than 70 clients worldwide, scaling to support everything from single user execution through to fully-integrated global order management.
The new accord between Fidessa and CMBI will see the integration of Fidessa’s global order management and low-latency execution capabilities into the investment firm’s exchange-traded derivatives platform – consequently, the augmented capabilities will be used to leverage the expansion of CMBI business within the Asian markets.
The strategic expansion is important for CMBI as it helps bolster its platform capabilities with a suite of specialised derivatives algorithms, including benchmark algos and advanced synthetic order types to normalise trading across global markets.
Chan Hui, Managing Director at CMBI, commented: “To underpin our expansion strategy, we needed a sophisticated, reliable and solid trading platform to meet international requirements. In an increasingly automated and highly competitive world, we have strategically chosen Fidessa because its front-office trading and middle-office capabilities will significantly enhance our execution quality.”
Peter Lam, Sales Director at Fidessa Asia, added: “We are very pleased to see another Chinese broker join the Fidessa community. With advanced algorithmic trading tools and reliable technology infrastructure, Fidessa’s fully hosted platform will enable CMBI to trade seamlessly across the world, including the Hong Kong and Shanghai Stock Connect markets.”