Fidessa expands Latin American reach with leading Mexican broker Finamex
New York, 9th September, 2009 - Fidessa group plc (LSE:FDSA), provider of the award-winning multi-asset trading, portfolio analysis, compliance, market data and global connectivity solutions for the buy-side and sell-side, today announced it has expanded its Latin American reach with the addition of Casa de Bolsa Finamex, S.A. Bursatil de C.V. (Finamex), a leading Mexican broker, to its FIX connectivity network.
"There is marked interest in the global marketplace from all types of investors for cutting edge high tech services, with enhanced algorithmic trading functionality and other exotic access strategies such as statistical arbitrage and multi-asset basket trading." said Hector Casavantes Gonzalez, Director of Electronic Trading Services at Finamex. "By joining the Fidessa global connectivity network, we're able to offer our market-leading tools and services to both the buy-side and sell-side via one of the largest trading networks in the industry."
Established in 1974, Finamex initially focused on the local money market. The firm's rapid growth in Mexico led it to become one of the first Mexican brokers to expand into international markets. The firm is now a leading provider of a full range of electronic and traditional brokerage services in equities and derivatives to more than 50,000 clients globally.
Martin Hakker, EVP Marketing at Fidessa, commented: "Our clients have increasingly looked to expand their trading business into the Latin American markets with the use of electronic order delivery and execution. Through strategic partnerships with receiving brokers like Finamex, Fidessa continues to build its global network, providing our clients on both the buy-side and sell-side with the broadest access to global markets and to the leading brokerage services available within those markets. The addition of Finamex to our network provides our clients with access to a premiere suite of brokerage tools for the Mexican market as well as to the specialist regional expertise that Finamex offers."
In the first half of 2009, Fidessa's global connectivity network has continued to increase its traffic by over 20% and now carries flow with a value of $600 billion a month. The addition of Finamex builds on Fidessa's expansion into Latin America earlier this year when it added leading Brazialian investment bank Corretora De Valores.
There are now over 400 brokers available on the Fidessa network offering a mixture of both direct and algorithmic trading services to around, 2,300 buy-side firms across 120 markets globally.PDF (0.06 MB)