Trading technology provider Fidessa has teamed up with Mexican broker Casa de Bolsa Finamex to expand its Latin American reach.
Finamex will join Fidessa’s FIX connectivity network, granting clients access to the Mexican market and a suite of regional brokerage tools.
Finamex offers a full range of electronic and traditional brokerage services in equities and derivatives to more than 50,000 clients globally. The addition of Finamex to Fidessa’s network follows a similar deal struck with Brazilian investment bank Planner Corretora de Valores in January.
“Our clients have increasingly looked to expand their trading business into the Latin American markets with the use of electronic order delivery and execution,” said Martin Hakker, executive vice president of marketing at Fidessa, in a statement. “Through strategic partnerships with receiving brokers like Finamex, Fidessa continues to build its global network, providing our clients on both the buy-side and sell-side with the broadest access to global markets and to the leading brokerage services available within those markets.”
According to Fidessa, traffic in its global connectivity network increased by more that 20% in the first half of 2009 and it now carries flow with a value of $600 billion a month. There are over 400 brokers available on the network, offering a mixture of both direct and algorithmic trading services to around, 2,300 buy-side firms across 120 markets globally.