Fidessa opens new hub in Singapore to support local market demand
Hong Kong, 25 May 2010 - Fidessa group plc (LSE: FDSA), provider of award-winning trading, market data and global connectivity solutions for the buy-side and sell-side, has today announced the opening of a new hub in Singapore to supplement its existing Asian centres in Hong Kong and Tokyo. The move is in direct response to growing demand for Fidessa's trading and connectivity services throughout the Asia Pacific region.
Fidessa's hubs provide access to its Software as a Service trading platform as well as to its ultra low-latency market data and global liquidity network solutions. The new centre is co-located with Chi-East, the forthcoming pan-Asian liquidity venue that is a joint venture between Chi-X Global and the Singapore Exchange (SGX). This will ensure superior low-latency connectivity to this new market for clients. It will also improve low-latency access for member traders to the SGX through its new high-speed API.
Jean-Pierre Baron, Managing Director for Fidessa Asia-Pacific, comments: "This announcement demonstrates a clear investment by Fidessa in the region for the future. We are currently seeing strong signs of growth in Asia-Pacific: indeed, this move has been driven by demand from our established client base as well as from new prospects. We have been able to draw on our global experience of running mission-critical systems to design the optimum set-up here, and that, coupled with the economies of scale we are in a position to exploit, makes it a very compelling proposition for clients."
BT will facilitate the establishment of the data centre hub through the BT Radianz Proximity Solution that was recently extended to both Singapore and Hong Kong and will provide closer proximity to the exchange and other trading venues.
Andy Nicholson, vice president, global banking & financial markets, BT, added: "The Asia Pacific trading market is going from strength to strength and we are pleased to be working with a firm such as Fidessa to underpin that expansion. Financial market participants increasingly need to be at the forefront of network technology and trading venues that can be accessed via services such as BT Radianz Proximity Solution are best placed to extend their reach to a larger trading community."
This announcement is the latest in a series of positive news stories from Fidessa in Asia Pacific, which recorded seven new clients in 2009, in addition to incorporating BlueBox, its algorithmic engine, into its hosted trading platform, launching new high-speed gateways to the Korean Exchange and the Sydney Futures Exchange and becoming a recognised ISV for Bursa Malaysia's next-generation DMA gateway.
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In the year ended 31 March 2009, BT Group's revenue was £21,390 million.
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