Trading systems provider Fidessa has added 13 Asia-Pacific markets to the global trading service on its US-hosted execution platform in response to increasing Asian trading volumes and US brokers’ growing desire to participate in the region.
The new overnight trading service will allow Fidessa’s US broker clients to execute orders in Hong Kong, Thailand, Korea, Indonesia, Philippines,
Malaysia, China, Taiwan, India, New Zealand, Australia, Singapore and Japan during these countries’ respective trading hours. Fidessa’s global trading service already supports trading in Canada, Latin America and Europe.
According to Fidessa, the ability to provide executions and insight during market hours is a necessity for US brokers looking to expand their trading businesses.
“Asia’s equities markets are becoming increasingly electronic; market volumes are rising, and traders are becoming more active,” said David Polen, senior vice president of product marketing at Fidessa in the US, in a statement. “In order to compete effectively on a global scale, US brokers need to provide a higher level of execution tools and services.
Round-the-clock trading enables our clients to provide their clients a global reach.”
Fidessa’s global trading service includes electronic order receipt, routing and execution. It supports orders in each market’s local currency and tracks positions in international stocks with a real-time profit-and-loss valuation in local currency and US dollars.
Users of the service also have access to Fidessa’s global connectivity network of more than 360 brokers, 2,200 buy-side firms and 115 venues worldwide.