Fidessa group, provider of the Fidessa and Fidessa LatentZero trading, market data and connectivity solutions, today announced that Mitsubishi UFJ Securities (MUS) has successfully completed the initial phase of its algorithmic execution service roll-out, based on Fidessa’s algorithmic trading platform, BlueBox.
Fidessa BlueBox, launched in 2007, provides access to pre-built, industry standard algorithmic trading strategies along with a toolkit that enables clients to build their own proprietary models. BlueBox incorporates low-latency market data and global exchange connectivity, providing a solution for brokers wanting to enter the algorithmic trading space.
Yoshiki Shinchou, general manager, research and development division, Global Markets, MUS comments, "With the growth in electronic trading and rapid developments in trading technologies, there are many types of client orders which can be more efficiently handled and executed using algorithms. It is our mission to provide the highest quality execution service to handle these types of orders so."
MUS anticipates considerable demand for its algorithmic execution services from both off-shore buy-side institutions, particularly hedge funds, in the short-term, and from domestic asset managers in the mid-term. Having completed the first phase of its algorithmic trading service roll-out, MUS now provides its clients with TWAP and Short Sell strategies, including a combined TWAP/Short Sell strategy, as a trader-intermediate execution. A VWAP model and volume-in-line will be added in the next phase of the project.
Shinchou continues, "Time to market was a very important factor for us. One of the key issues in developing algorithmic execution capabilities lies in successful integration with the order management system. Fidessa BlueBox enabled us to bypass this issue, so we were able to launch phase one of our algorithmic trading service within three months of the project start date."
Hiroshi Matsubara, head of marketing for Fidessa Japan, remarks, "BlueBox users are able to deploy a range of bespoke algorithms and deliver these to the market at an accelerated pace."
"We are in the early stages of our algorithmic execution delivery model but we are committed to expanding the overall capacity of our automated trading capabilities," explains Shinchou.