Fidessa LatentZero, a front-office software provider, has integrated Japanese investment bank Nomura’s ModelEx suite of algorithmic order execution strategies into its Minerva order and execution management system (OEMS) and EMS Workstation trading applications for the buy-side.
ModelEx is Nomura’s newly-launched electronic trading offering, which includes algorithmic capabilities acquired from Lehman Brothers’ European and Middle Eastern and Asian equities and investment banking operations in 2008.
As a result of the integration, Fidessa LatentZero clients will gain access to more than 20 individual algorithms that support core strategies, as well as more specialised tactical, portfolio, conditional and dark strategies for both equities and futures. The suite also allows Fidessa LatentZero users to create custom algorithms to support specific trading strategies.
“We regard Fidessa group as a key supplier to both the buy-side and sell-side, and this collaboration will enable us to re-establish our electronic trading offering incredibly quickly,” said Andrew Bowley, head of electronic trading product management at Nomura, in a statement. “The coding within the EMS has transformed our clients’ ability to upload algos, and enables us to meet demands for both flexibility and speed of deployment.”
Separately, Asia-Pacific brokerage Mirae Asset Securities (HK) has selected a fully-managed and hosted trading platform provided by Fidessa, the sell-side technology division of the Fidessa Group, for its institutional equity trading business.
Mirae will use the Fidessa platform to access the Hong Kong Exchange for member trading as well as for connectivity to other Asian markets. According to Fidessa, the Asian trading platform will allow Mirae to improve efficiency and performance and reduce latency.
“A key advantage of moving to Fidessa is that it can accommodate the growth of our business, as well as enable us to add more sophisticated trading tools in the future,” said said K.Y. Lee, CEO, Mirae Asset Securities (HK), in a statement. “This, combined with Fidessa’s global connectivity network, will enable us to connect to brokers in established and emerging markets across Asia Pacific and offer improved services and capabilities to our clients.”