Fidessa adds Indian broker to connectivity network

ICICI Securities, an India-based brokerage house, has joined technology vendor Fidessa's global connectivity network, allowing it to receive orders from foreign investors in Indian securities.
By None

ICICI Securities, an India-based brokerage house, has joined technology vendor Fidessa's global connectivity network, allowing it to receive orders from foreign investors in Indian securities.

The connection to Fidessa's network will enable ICICI Securities to receive care and DMA orders from the 2,400 buy-side companies and 600 sell-side firms already connected to the network. It will also provide Fidessa's community with another means of access to Indian stock exchanges. ICICI Securities joins over 20 Indian brokers that are already connected to the Fidessa network, which covers 150 markets across the world.

“Over the past few years, the Indian capital markets have witnessed a real transformation; the growth of electronic trading continues unabated and volumes on the Bombay Stock Exchange and National Stock Exchange have grown significantly,” said A Murugappan, executive director, ICICI Securities. “By joining Fidessa's global trading community, we will be able to offer all members our specialist knowledge on the Indian capital markets along with access to critical exchanges.”

“Recently, exchanges and regulators have introduced radical change with the introduction of DMA, algorithmic trading, co-location and smart order routing, which have all helped open up the space to new players,” added Enis Toumi, connectivity sales, Fidessa in Asia. “On-boarding a company of ICICI's scale and reputation expands the depth and quality of our local coverage and will please international firms requiring fast, reliable remote access.”

«