Fidessa Group, a provider of trading systems, market data and global connectivity solutions, is to connect to Instinet’s Korean crossing network, KoreaCross.
Instinet launched KoreaCross in April and uses Korean investment bank Samsung Securities for clearing and settlement services, as the local broker sponsor and for providing domestic order flow.
Fidessa already provides access to several of Instinet’s alternative trading systems, including Chi-X in Europe and Canada, JapanCrossing and CBX Japan, through the Fidessa trading platform, Fidessa LatentZero EMS Workstation and Fidessa LatentZero Minerva buy-side OEMS.
“In our drive to offer the broadest range of trading and liquidity access services for Asian markets, the addition of KoreaCross is an important step,” said James Hardcastle, head of connectivity for Fidessa in Asia, in a statement. “We have had much interest from existing clients and new prospects about the Korean marketplace and adding a service that addresses the historic lack of anonymity that has existed there, allows us to further enhance our global trading solutions.”