Fidessa’s Japanese Execution Platform ready for TSE’s arrowhead
Tokyo, 1 September 2009 - Fidessa group plc (LSE:FDSA), provider of award-winning trading, portfolio management, compliance and global connectivity solutions for the buy-side and sell-side, today announced that its high performance Japanese market execution platform is now ready for arrowhead, the new generation trading system for cash equities on the Tokyo Stock Exchange (TSE), which is expected to go live in January 2010. Connectivity to arrowhead will be available to both Fidessa's enterprise and hosted clients.
Ian Chilton, Chief Executive at Fidessa kk said, "TSE's arrowhead is one of the most significant market developments to hit Japanese equities trading in the last decade, and we're pleased to have completed all the necessary development work based on the TSE's project time frame. In order to take advantage of the opportunities presented by arrowhead, sell-sides will need higher performance technology with the lowest possible latency, comprehensive analytics and the ability to build algorithms".
"We see the likely stimulation of algorithmic trading as a further opportunity to support our clients in the region, as this is an area in which our technology excels. We will be drawing on Fidessa's experience in the US and European markets to ensure that we remain at the forefront of developments in trading technology in Japan", he added.
Fidessa's architecture has been adapted to meet the demands of arrowhead with co-location support, a gateway integrated with BlueBox, Fidessa's algorithmic trading engine, a broader analytics solution, and new Japan datafeed handlers. Existing clients will be upgraded to the new platform, which has already been adopted in beta form.
TSE's arrowhead is expected to significantly increase the exchange's data handling performance from a few seconds to around the 10 milliseconds level. Additionally, their system capacity will be significantly enhanced, guaranteeing to process data at twice the current peak levels per minute. Key trading rules will also be revised to include smaller tick sizes and the relaxation of some of their existing restrictions on daily trade price limits. The TSE will provide more comprehensive market data with arrowhead by extending market depth from 5 levels to 8 on "FLEX standard", and to all order book levels for "full FLEX market depth".
Fidessa recently hosted seminars, in both Japanese and English, exploring the introduction of arrowhead and its implications for high performance trading on TSE. These events attracted 150 delegates from the major sell-side firms in Tokyo.
Fidessa's products serve around 24,000 users across more than 730 clients around the world and are used by more than 85 per cent of tier one financial institutions. Fidessa's network provides connectivity to more than 2,300 buy-sides and 400 brokers across 120 markets globally.PDF (0.07 MB)