Fidessa’s Asia trading solution a success
06 January 2016 Singapore
Image: Shutterstock
Maybank Kim Eng, the investment banking arm of Maybank, has gone live on Fidessa’s equities order management and execution platform, providing an Asian trading solution for the bank’s global clients.
According to Fidessa, the fragmented nature of the Asian marketplace means that some firms run different local systems for each market, which can lead to challenges in providing smooth regional trading.
Through the Fidessa platform, Maybank Kim Eng can allow its global institutional clients to trade across Asia through a single system. The platform is designed to deliver a more responsive financial information exchange (FIX) client on-boarding environment, more advanced programme trading, and more timely and valuable execution services.
Key traders in ten different countries have rolled out the platform simultaneously, with all clients migrating to the new system successfully.
The move is intended to aid Maybank Kim Eng’s regional and global growth, while Fidessa was selected on the strength of its technology.
"It is important for Maybank Kim Eng to offer the best possible capabilities to both local and global clients wanting to do business in Asia," said Ami Moris, regional head of equities at Maybank Kim Eng.
"This new Fidessa technology allows us to on-board clients rapidly and systematically execute across the Asian markets, with a core focus on [The Association of Southeast Asian Nations], with rich information flowing back to the clients. The implementation is a key milestone in our strategy to offer best execution to clients in Asia."
She added: "For us, the solution offers the flexibility and scalability we need. By working in an ongoing and collaborative partnership with an innovative [financial technology firms] like Fidessa, we can concentrate on ensuring service excellence to clients as well as strategic business expansion throughout Asia."
Jean-Pierre Baron, managing director for Fidessa in Asia, said: "Partnerships such as this one with Maybank Kim Eng have raised the functional coverage of our system, particularly with regards to pre-trade risk checks and synchronisation with local rules. We are happy that this implementation has completed on time and the system can now be used with confidence across Asia."
According to Fidessa, the fragmented nature of the Asian marketplace means that some firms run different local systems for each market, which can lead to challenges in providing smooth regional trading.
Through the Fidessa platform, Maybank Kim Eng can allow its global institutional clients to trade across Asia through a single system. The platform is designed to deliver a more responsive financial information exchange (FIX) client on-boarding environment, more advanced programme trading, and more timely and valuable execution services.
Key traders in ten different countries have rolled out the platform simultaneously, with all clients migrating to the new system successfully.
The move is intended to aid Maybank Kim Eng’s regional and global growth, while Fidessa was selected on the strength of its technology.
"It is important for Maybank Kim Eng to offer the best possible capabilities to both local and global clients wanting to do business in Asia," said Ami Moris, regional head of equities at Maybank Kim Eng.
"This new Fidessa technology allows us to on-board clients rapidly and systematically execute across the Asian markets, with a core focus on [The Association of Southeast Asian Nations], with rich information flowing back to the clients. The implementation is a key milestone in our strategy to offer best execution to clients in Asia."
She added: "For us, the solution offers the flexibility and scalability we need. By working in an ongoing and collaborative partnership with an innovative [financial technology firms] like Fidessa, we can concentrate on ensuring service excellence to clients as well as strategic business expansion throughout Asia."
Jean-Pierre Baron, managing director for Fidessa in Asia, said: "Partnerships such as this one with Maybank Kim Eng have raised the functional coverage of our system, particularly with regards to pre-trade risk checks and synchronisation with local rules. We are happy that this implementation has completed on time and the system can now be used with confidence across Asia."
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