Marusan Tabs Fidessa for Agency Trading07.25.2017
Marusan goes live with Fidessa for wholesale agency trading
Tokyo, 25th July 2017 – Fidessa group plc (LSE: FDSA) today announced that Marusan Securities Co., Ltd., an independent securities company headquartered in Tokyo, has gone live with Fidessa for its wholesale agency trading business. Fidessa is the leading system of choice in the Japanese market with 11 domestic security firms now using it for their wholesale agency trading.
Japan’s Financial Services Agency is now promoting wider adoption of “fiduciary duty – in a broad sense of serving the clients’ interests”, not only for buy-side firms but for all firms involved in the financial business. In addition, European regulation in the form of MiFID II, which emphasises market transparency and investor protection, will affect those firms outside of Europe that trade European markets when it comes into force in January 2018. With these global and domestic regulations emerging, achieving and proving best execution is expected to become a key requirement in the Japanese market.
Fidessa’s trading platform provides brokers with what they need to meet their obligations under these emerging regulations as well as achieve and demonstrate best execution. The platform also encompasses an algorithmic trading engine (tailored especially for Direct Strategy Access) as well as smart order routing capabilities that enable users to optimise trading outcomes across the primary exchange and the alternative venues such as PTSs.
Hisashi Tamura, General Manager for the Institutional Sales Department at Marusan Securities, commented: “We have long been considering an upgrade of our front-office system in order to meet the changing needs of our clients. We are very happy to announce our decision to select Fidessa with its renowned reputation for system stability and an established track record in serving numerous Japanese domestic security firms. With the new system in place, we will be able to better serve our clients’ needs in a more efficient and accurate manner, improve our execution service to our existing clients and expand our market share by serving new customer segments.”
Ian Chilton, Chief Executive of Fidessa in Japan, added: “We are excited to announce the successful go-live of the Fidessa trading platform with Marusan. We believe we can make a great contribution to the development of Marusan’s business by providing them with an industry leading system that is tuned to meet all of their trading needs in the Japanese market.”
Fidessa’s global products and services support around 23,000 users across 900 clients worldwide and are used by 85 per cent of tier-one financial institutions. Fidessa’s global network provides connectivity to more than 5,500 buy-sides and 715 brokers across 221 markets around the world.
Broker's new platform generates execution strategies that leverage client-specific trading data.
Agency broker moves beyond execution to offer a broader suite of services.
The new service initially targets trading in listed equities and fixed income.
Clients are demanding a transparent, agency-only approach to trading and liquidity sourcing, Pavilion writes.
Cutting-edge technology and full alignment with client interests are must-haves.