Huatai Financial Holdings has signed up for Fidessa’s order management system (OMS) as plans for its expansion into Hong Kong proceed.
Huatai Securities Company Limited (HTSC), a subsidiary of Huatai Financial Holdings, implemented the system to accommodate its growth in trading activities.
Executive director at HTSC, Derek Sum, explained the partnership was a method of extending the group’s “competitive edge”.
He said: “Fidessa offers a robust trading system and it is highly rated among institutional clients.
“With the implementation of Fidessa, we are confident in providing our clients with a top-tier execution service for the Hong Kong and Shanghai Stock Connect markets.”
HTSC is the tenth Chinese broker client to sign up to Fidessa’s OMS, bringing the total of broker users to 730 globally.
Jean-Pierre Baron, managing director at Fidessa Asia, explained the company’s OMS allows clients to “seamlessly trade in the Hong Kong and Shanghai Stock Connect markets.”
Fidessa recently published a whitepaper claiming many OMS are insufficient for the specific complexities of counterparty restrictions.
The company said even in the age of automated reporting, counterparty risk is putting a strain on buy-side systems.