Celfin Capital, a Chile-based investment bank, has ramped up its electronic trading capabilities by installing a hosted trading solution from trading technology provider Fidessa and joining the firm’s connectivity network.
Using Fidessa, Celfin Capital aims to open up a link for brokers and asset managers across the globe to trade Chilean and Peruvian equities. Fidessa will supply Celfin with a direct link to the Bolsa de Comercio de Santiago and enable the broker to connect to the Fidessa network using FIX, allowing it to receive electronic order flow.
“The upgrade of systems at the Bolsa de Comercio de Santiago gave us an opportunity to explore the possibilities of offering electronic order flow and onward routing capabilities and to develop truly international services for our clients,” said José Antonio Labbé, CEO of Celfin’s brokerage house, in a statement. “The partnership with Fidessa, and connectivity to the Fidessa network, are part of our overall goal to establish clear distinction between our services and those of our competitors, and to position ourselves as a leading broker in Chile.”
According to Celfin Capital, Fidessa’s global reach of buy- and sell-side firms was a key factor in establishing the relationship.
“As our first receiving broker in Chile, Celfin Capital enhances the reach of the network and strengthens our presence in Latin America,” added Martin Hakker, executive vice president, marketing at Fidessa. “In the first half of 2009, Fidessa carried global flow with a value of $600 billion a month, a figure that continues to rise thanks to regular new signings.”
Fidessa’s global trading network connects to more than 400 brokers, 120 trading venues and 2,300 buy-side firms.