MF Global FXA Securities, the derivatives trading arm of financial institution MF Global, has gone live with trading technology firm Fidessa’s Japanese trading platform for its new Japanese equities business.
MF Global FXA Securities has deployed the fully managed and hosted system in its Tokyo office. The firm was previously best known for margin FX trading in Japan, but has now extended its reach to include a research-driven equity derivatives brokerage, with plans to start trading a full range of over-the-counter and listed derivatives, such as contracts for difference, in the near future.
According to Fidessa, the need for an efficient direct execution route for client orders was behind MF Global FXA Securities’ decision to choose its trading platform.
“Selecting Fidessa’s Japanese trading platform was an important strategic decision for our new start-up business here in Japan. Fidessa’s rich functional line, time-to-market for its product delivery and the cost effectiveness of its hosted solution were key factors in our decision,” said Graham Elliot, CEO, MF Global FXA Securities, in a statement.
“The recent launch of arrowhead by the Tokyo Stock Exchange is expected to bring fundamental changes to the structure of the equity trading landscape in Japan,” added Ian Chilton, CEO of Fidessa in Japan. “Fidessa’s high performance, low-latency trading platform is designed to ensure that all tiers of the Japanese brokerage community can compete effectively in this post-arrowhead era.”