Singapore-based brokerage CIMB Securities will use technology provider Fidessa as part of a further push into key Asian markets.
CIMB will extend its trading operations to Thailand, Indonesia, Taiwan, Korea and India to deliver a consolidated pan-Asia sell-side trading solution following its purchase of the Asia-Pacific investment banking and cash equities business of Royal Bank of Scotland.
The Fidessa infrastructure will be provided on the cloud, and will support cross-border order management and visibility for domestic and regional order flow, in addition to indications of interest management, basket trading and execution management and program trading.
The firm will also use Fidessa’s Bluebox algo trading engine to develop and implement its own algos through the managed infrastructure.
Carol Fong, CEO of CIMB Securities, said the regional expansion would offer her firm efficiencies of scale.
“This move is of significant strategic importance to CIMB as we build on our acquisition of RBS’s assets and look to advance our position in our core markets and new forays.
“We are confident that Fidessa can offer the innovative functionality, proven technology and robust global infrastructure that will support our ambitious growth plans,” Fong said.
CIMB Securities, a subsidiary of Malaysia-headquartered CIMB Group, has a strong ASEAN focus with the bulk of its operations in Malaysia, Indonesia, Singapore and Thailand.