Japanese investment bank Daiwa Capital Markets expects to launch a range of new services within the next six months following the choice of software provider GigaSpaces Technologies to support its electronic trading infrastructure in the Asia Pacific region.
According to Del Abdullah, head of electronic trading technology at Daiwa, the new capabilities will focus on market data, execution algorithms, transaction cost analysis and post-trade services.
“As more people want market data, the platform is going to grow. We're going to be pushing the system to see how much more utilisation we can get out of it,” Abdullah told theTRADEnews.com.
GigaSpaces' eXtreme Application Platform (XAP) – which will provide the underlying infrastructure to connect all facets of Daiwa's transactional system – is designed to deliver end-to-end transactions in less than five milliseconds.
Daiwa has been building up its non-Japan Asian trading business since December 2009, when the firm launched an electronic trading platform for cash and listed derivatives in Australia, Hong Kong, India, Korea, Singapore and Taiwan. The firm purchased the global convertible bonds and Asian equity derivatives businesses of Belgian bank KBC Group in May 2010, as it continued to expand the scope of its Asia Pacific operations.