Fidessa group, a provider of trading systems, market data and global connectivity solutions, announced Monday that it will provide connectivity to Instinet Japan’s dark liquidity pools, full suite of algorithms and global direct market access (DMA) platform.
The announcement allows Fidessa users to directly access Instinet Japan's electronic execution suite via the Fidessa trading platform, Fidessa LatentZero EMS Workstation and Fidessa LatentZero Minerva buy-side OEMS, as well as via direct FIX connectivity.
As a result of the agreement, Fidessa users are now able to access Instinet Japan's two dark liquidity pool platforms, JapanCrossing and CBX Japan, offered under the firm's proprietary trading system (PTS) license.
JapanCrossing is Japan's largest off-exchange liquidity pool for institutional investors crossing Japanese equities, while CBX Japan is an alternative venue that allows traders to negotiate and trade large blocks of stocks with counterparties at mutually agreed prices. CBX Japan is also the only system that enables institutions to trade any global security regardless of the time, according to Instinet.
Christian Chan, head of electronic trading, Instinet Asia says, "Having established a relationship with Fidessa in Europe, we are pleased to extend our scope to Asia, allowing users to benefit from our deep pools of off-exchange liquidity and global execution platform."
James Hardcastle, head of Asian broker network, Fidessa adds, "The addition of Instinet to our network will help our users through the increasingly difficult challenge of obtaining liquidity. We are committed to offering our clients local expertise in the Asian markets and the widest choice of trading venues."