Fidessa, a market data and global connectivity solutions provider, has added IS Investment, the investment banking arm of Turkish firm Isbank, to its global connectivity network.
The link will enable IS to extend its direct market access (DMA) services to Fidessa’s global community of 300 brokers, 1,800 buy-side firms and 100 markets across the world.
“The role of electronic trading is set to expand significantly in Turkey, and our relationship with Fidessa will ensure that we will lead this trend, enabling us to offer our execution capabilities coupled with very strong expertise across the Turkish market to both buy-side and sell-side firms on that network,” said Serkan Aran, head of cash and futures trading at IS Investment.
Simon McDowell, director of connectivity at Fidessa, added, “The collaboration between Fidessa and IS Investment extends the benefits of DMA execution on both the ISE and TurkDEX to the community of investors keen to take advantage of the Turkish capital markets’ dynamics and potential.”
IS Investment is currently the biggest user, in terms of transaction volumes, on both the Istanbul Stock Exchange and the Turkish Derivatives Exchange, executing approximately 60,000 futures and stock DMA orders every day.