Pico, a provider of technology services for the financial markets, announced this week that Nomura has expanded their relationship and selected the company to build, host, and manage a new platform.
The new platform supports the global investment bank’s programs in its foreign exchange (forex) and rates trading business. The Nomura FX trading platform is co-located in data centers in New Jersey (NY4), London (LD4), and Tokyo (TY3).
Nomura: Technology is the backbone of our business
Commenting on the announcement, Tom Palmer, Nomura Head of eTrading Strategy FX, said: “We’re very pleased to be working with Pico. The use of technology is the backbone to enabling business with our customers.”
“With every upgrade we are able to make we can be confident that our clients will see more competitive pricing and faster execution times. In today’s disparate FX markets there are an increasingly large number of liquidity providers that the FX market can turn to and our investment in the infrastructure from Pico shows our continued commitment to the market.”
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“Pico’s expertise in this area has given us confidence to actively expand our business knowing that we are backed by world-leading engineering experts.”
Namely, the new platform will boast more efficient processing. Therefore, clients of Nomura can benefit from faster transaction times, the statement released on Wednesday said.
“Our experience in supporting operationally complex global FX platforms and financial markets specialist networks allows us to alleviate many of the challenges that come with managing a market presence.,” added Roland Hamann, Pico Managing Director.
“We are delighted Nomura has entrusted Pico as their global provider and this is testament to our strong capabilities in delivering business-critical trading environments, our best-of-breed technology portfolio and our strategy of being comprehensive everywhere through a global footprint recently bolstered by our APAC expansion. These combined forces empower our clients to access markets faster and efficiently scale their business.”