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20th February, 2008
Mitsubishi UFJ Securities Co., Ltd completes initial phase of algorithmic execution service based on Fidessa BlueBox
Tokyo and London – 20th February 2008. Fidessa group plc (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero trading, market data and global connectivity solutions, has today announced that Mitsubishi UFJ Securities Co., Ltd (MUS) has successfully completed the initial phase of its algorithmic execution service based on Fidessa’s algorithmic trading platform, BlueBox.
Fidessa BlueBox, launched in 2007 and fully integrated with its order management system, provides easy 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, thus providing a proven, easy to deploy and cost-effective solution for brokers wanting to enter the algorithmic trading space.
Mr Yoshiki Shinchou, General Manager, Research and Development Division in the Global Markets Business Unit at MUS commented: “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, for us, algorithmic trading is a must-have execution channel for our clients.”
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, 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.
Mr Yoshiki Shinchou continued: “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, commented: “Since its launch in 2007, we’ve seen uptake of our algorithmic trading platform with our large domestic broker clients. The ability to deploy a range of bespoke algorithms and deliver these to the market at an accelerated pace gives BlueBox users a real advantage in the increasingly competitive automated trading space. We’re delighted that Mitsubishi has reached this important milestone and we will continue to support them as the project goes forward.”
Mr Yoshiki Shinchou concluded: “We’re in the early stages of our algorithmic execution delivery model but we are committed to expanding the overall capacity of our automated trading capabilities. We want to inject some originality into our algorithmic services so the fact that the BlueBox framework enables us to develop and deploy our own proprietary algorithms, as well as out-of-the-box strategies, means that we can provide our clients with some truly unique services.”
About Mitsubishi UFJ Securities
Mitsubishi UFJ Securities Co., Ltd (MUS) was formed in October 2005 from a merger between Mitsubishi Securities Co. Ltd and UFJ Tsubasa Securities Co. Ltd. As the core securities company of the Mitsubishi UFJ Financial Group (the MUFG group), the company provides wide-ranging services, including securities trading and underwriting, various types of derivative transactions and advisory service related to M&As and asset securitization.
Aiming to globalize the securities and investment banking operations, MUS is establishing subsidiaries and representative offices in major cities in Europe, the U.S. and Asia. Together with a network of 119 outlets in Japan, the company provides services to clients at home and abroad.
About Fidessa group
Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both the buy-side and sell-side globally. Available as a simple workstation or as an integrated application suite, the Fidessa and Fidessa LatentZero product suites are built on the clear vision of providing the richest functionality, coverage and distribution to the financial markets community.
The Fidessa suite is used by 85% of tier-one, global equity brokers providing sophisticated trading, market data, order management and execution capabilities to all tiers of the sell-side.
The Fidessa LatentZero suite is used by the world’s largest asset management firms through to smaller specialist managers and hedge funds, and provides comprehensive portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools, across all asset classes, to all tiers of the buy-side.
Fidessa’s global network carries over 95 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between around 1,500 buy-sides and 255 brokers across 92 exchanges worldwide.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves around 22,000 users across 520 clients globally. Fidessa group was founded in 1981, has revenues of $270m, employs over 1,100 people and has been fully listed (LSE:FDSA) since 1997.
www.fidessa.com
www.latentzero.com
For further information, please contact:
Simon Barnby
Fidessa
+44 20 7929 9250
simon.barnby@fidessa.com
Evelina Amanatidou
Team 660, Metia for Fidessa
+44 (0)20 3100 3592
evelina@metia.com
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