FIX messaging and trading solutions provider FIX Flyer is opening a new development and support facility in Hyderabad, India. The new office will serve as the firm's operations base for the region, improving its reach into Australia, Hong Kong and China as well as India.
The move is part of a plan by the firm to double its development, sales and technical staff in India over the next six months to improve collaboration between the company's New York headquarters' development and support groups. The Hyderabad facility will be used to support the growth of clients using FIX Flyer trading software and services. Leading sell-side clients include Barclays, UBS, Bank of America Merrill Lynch, Goldman Sachs and J.P. Morgan.
“FIX trading is about helping investors get increased liquidity in emerging markets,” said Brian Ross, CEO of FIX Flyer. “FIX can improve the efficiency of trading by providing tools that allow high-frequency trading and the opening up these markets to investors from places like the US and London.”
FIX Flyer cited increased demand for better productivity across the trading lifecycle, difficulties in sourcing liquidity via multiple venues and a desire to extend the life of existing FIX environments as key reasons for the firm's expansion.
“We are focused on making electronic trading professionals more productive than ever. By establishing a team in Hyderabad, we can both offer unprecedented support and product development and also drive awareness of our products and services in the region,” added Ross.