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IND-X Securities launches using Fidessa LatentZero’s EMS Workstation for equities trading
Tokyo and London – 11th December 2007. Fidessa group plc (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero trading, market data and global connectivity solutions, has announced that IND-X Securities Limited has launched its operations using Fidessa LatentZero’s EMS Workstation to provide execution services, initially for Japanese equities trading.
A subsidiary of Tokyo Stock Exchange-listed Japaninvest Group plc, Japan’s largest independent research house, IND-X Securities is a new securities firm established to provide a broker neutral, unconflicted execution hub for buy-side firms trading Japanese stocks.
IND-X Securities’ team of experienced execution sales professionals will receive client order flow through the Fidessa LatentZero EMS Workstation, then route to the market via Fidessa’s global connectivity network which provides buy-side clients with access to the care, DMA and algorithmic trading services of 230 brokers worldwide.
Launched in November, IND-X Securities aims to provide clients with cost-effective, unconflicted execution services, along with a cutting edge commission management product. IND-X currently provides execution services for Japanese stocks but plans to add Asian and UK market execution in the first half of 2008.
Peter Twist, CEO of IND-X Securities commented: “Our aim is to provide a sensibly-priced execution venue for smaller research firms. Using Fidessa LatentZero’s EMS solution and the skills of our experienced execution specialists, we can level the playing field for the smaller sell-side firms, providing them with access to a broad range of execution venues at a reasonable cost. As more and more venues open up in the post-MiFID trading environment we will be able to route client orders to these venues to ensure continuing compliance with clients’ best execution policies.”
Richard Jones, CEO of Fidessa LatentZero says: “We are delighted to welcome IND-X as a new customer and user of our EMS Workstation solution, which is gaining increasing popularity in the market largely due to its broker neutrality, global coverage and ASP delivery model. It is a very quick way for any asset manager to achieve market connectivity to brokers, DMA and algorithms”.
Fidessa LatentZero EMS Workstation is also available as a fully integrated part of the Capstone Minerva™ Order and Execution Management System (OEMS), the market’s first single system to provide comprehensive OMS and EMS functionality in one application.
The product was launched in 2005 and is now used by over 130 firms.
About IND-X Securities
IND-X Securities offers a flexible FIX enabled and unconflicted execution hub for the buy-side within the new MiFID environment. IND-X provides a broker neutral platform allowing users to trade anonymously, via a panel of executing brokers. This platform supports a best execution matrix, whilst industry leading pre trade analytics and transaction cost analysis from an independent source provides IND-X with optimised trading solutions.
IND-X also provides a sophisticated, capable and user friendly commission management system “PORT”. This tool has been over two years in development and allows the Fund Manager complete control over their commission “pots” from the moment a trade is settled until the commission is paid out to their chosen service provider.
IND-X offers the Fund Manager access to multiple execution broker venues by signing up only one new counterparty, planned ability to access additional liquidity via exchange ATSs ECNs or “Dark Pools” will compliment the more traditional execution routes.
About Japaninvest Group
Japaninvest Group is majority owned by its employees and provides overseas investors with a specialist independent research and sales services in Japanese equities. The focus is on high quality but timely stock ideas backed by an intensive service from experienced and motivated sales teams, based in offices in Tokyo, London and New York.
The company became the first company to list on the new TSE Mothers Global market on December 7th 2006. The Board includes three experienced non executive directors headed by the Chairman, Sir John Whitehead (a former UK Ambassador to Japan). The company is in the process of building out an Asian equity research business. IND-X is the group’s broker neutral and anonymous trading platform with a powerful commission management front end software package, launched on November 1st 2007, to coincide with MiFID level II implementation in Europe.
About Fidessa group
Fidessa group is the leading supplier of multi-asset trading, portfolio analysis, decision support, compliance, market data and connectivity solutions for firms involved in trading the world’s financial markets. Fidessa’s products and services are built on the simple vision of making it easier to buy, sell and own financial assets of all types on a global basis.
Pedigree
A dynamic, growing company with a proven track record, Fidessa is recognised as the thought leader in the marketplace, with an unrivalled set of products and services which set the benchmark for this industry and, uniquely, serve both the buy-side and sell-side communities globally.
Experience
With over 28 years’ experience delivering powerful, resilient, mission-critical systems, Fidessa develops all its products itself from the ground up, investing heavily in their continual evolution. The resulting leading-edge, truly integrated solutions have established Fidessa as the industry’s number one choice, and are used by over 85% of tier-one, global financial institutions.
Scale
Headquartered in London and with regional operations across Europe, North America, Asia, and the Middle East, Fidessa supports 25,000 users across 850 clients, serving a broad spectrum of customers from major investment banks and asset managers through to specialist niche brokers and hedge funds.
Established
Fidessa group is listed on the London Stock Exchange (symbol FDSA) and is a FTSE 250 company. Fidessa has a turnover of around £240m, has delivered 30% compound growth since its 1997 listing and now employs 1,500 people globally.
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