IND-X Securities is to use trading solutions provider Fidessa Group’s LatentZero EMS Workstation to provide its execution services, initially for Japanese equities trading, it was announced last week.
A subsidiary of Tokyo Stock Exchange-listed Japaninvest Group, securities firm IND-X Securities was launched in November, 2007, to provide a broker-neutral, unconflicted execution hub for buy-side firms trading Japanese stocks.
IND-X Securities' team of execution sales staff will receive client order flow through the Fidessa LatentZero EMS Workstation, and route it to the market via Fidessa's global connectivity network.
IND-X currently executes Japanese stocks only but plans to add stocks in other Asian markets and the UK to its network in the first half of 2008.
"Our aim is to provide a sensibly-priced execution venue for smaller research firms," comments Peter Twist, CEO, IND-X Securities. "Using Fidessa LatentZero's EMS solution and our execution specialists, we can level the playing field for the smaller sell-side firms, providing them with access to a broad range of execution venues at a reasonable cost," he continues.
"Our EMS Workstation solution is a quick way for any asset manager to achieve market connectivity to brokers, DMA and algorithms," comments Richard Jones, CEO, Fidessa LatentZero.