Malaysian broker RHB joins Fidessa's global network
Hong Kong, 20th May 2009 - 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 that RHB Investment Bank, one of the leading brokers in Malaysia and the Corporate and Investment Banking arm of the RHB Banking Group, has joined its global connectivity network. RHB will receive DMA flow from Fidessa's trading platform clients across the region and around the world.
Simon McDowell, Managing Director of Connectivity at Fidessa, comments: "Despite the current difficult conditions, Fidessa is continuing to grow its number of clients across the Asia-Pacific region. Local brokers from a number of countries and regional offices of international firms are connecting to Fidessa to receive order flow. We are continuing to invest heavily in our global connectivity network and are delighted that RHB's Malaysian market expertise is now available to all our clients. RHB now have access to the whole of our buy-side and sell-side communities, many of whom are keen to take advantage of Malaysia’s dynamics and potential, and take advantage of DMA access which has recently been permitted by the Malaysia stock exchange."
Chay Wai Leong, Managing Director of RHB Investment Bank, comments: "Electronic trading is set to expand significantly in Malaysia and Asia as a whole, and we have seen a significant growth in demand for connectivity to the markets in our region. Our relationship with Fidessa will help ensure that we remain at the head of this trend. Fidessa’s flexible technology combined with our local knowledge creates a compelling offering for both buy-side and sell-side firms on the network."
In 2008, Fidessa's global connectivity network increased its number of connections by 50 per cent while message throughput grew by more than 80 per cent to over 180 million messages a month. The Fidessa product suite provides integrated trading, market data and connectivity solutions to over 22,000 users at around 630 clients worldwide, and serves more than 85 per cent of global, tier-one equity brokers.
About the RHB Banking Group
The RHB Banking Group is the fourth largest fully integrated financial services group in Malaysia. The Group’s core businesses are streamlined into four Strategic Business Units (SBUs): Retail Banking, Corporate & Investment Banking, Islamic Banking and International Banking. These businesses are offered through its main subsidiaries – RHB Bank Berhad, RHB Investment Bank Berhad, RHB Insurance Berhad and RHB Islamic Bank Berhad, while its asset management and unit trust businesses are held under RHB Investment Management Berhad. RHB’s International Banking Division include the commercial banking operations in Singapore, Thailand and Brunei. The Group also has a non-ringgit based offshore funding operations in Labuan. It is the RHB Banking Group’s aspiration to deliver superior customer experience and shareholder value; and be recognised as one of the top financial services groups in ASEAN.
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About RHB Investment Bank
RHB Investment Bank is a fully integrated investment bank, part of the RHB Banking Group. The Corporate Investment Banking Strategic Business Unit offers the full range of corporate and investment banking products and services, serving mostly the middle market and large enterprises across selected industries. The services include merchant banking business, trading on securities, stock, debt and derivatives as well as stock and future and option contracts broking business.