Mito Securities is first domestic customer for hosted version of Fidessa’s Japanese trading platform
Tokyo, London, New York, 24 March 2009 - Fidessa group plc (LSE: FDSA), provider of multi-asset trading, portfolio analysis, compliance and global connectivity solutions, today announced that Mito Securities Ltd, one of the most well-known Japanese domestic securities houses established for over 80 years, has selected Fidessa's hosted Japanese trading platform for trading Japanese cash equities. Following several successful deployments of Fidessa in Japan by international and major domestic firms, Mito Securities is the first domestic broker to take its hosted offering there.
The selection of the Fidessa platform over the incumbent supplier was prompted by its functionality, comprehensive services and cost performance. Mito Securities will be taking advantage of Fidessa's hosted model, which gives it access to powerful front and middle-office trading tools and the confidence of having its platform hosted in Fidessa's highly resilient and secure data centres. Mito Securities will also benefit from Fidessa's integrated market data and algorithmic trading tools as part of the platform.
Mr Michikazu Ando, Executive Officer at Mito Securities, comments: "Fidessa has a strong reputation for high performance products in Japan, and that was very important to us when choosing our trading platform, given the scheduled launch of Arrowhead, the next generation trading system for cash equities, on Tokyo Stock Exchange next year. We also found the hosted nature of the service appealing from a cost perspective; it keeps the cost of ownership at a manageable level and meets our needs exactly. We intend to develop our use of Fidessa further in the months following the implementation by making increased use of its BlueBox algorithmic trading engine, which is a key part of the platform. We are also pleased to be joining the financial community on the Fidessa global network, which will enable us to offer Japanese execution services to the extensive list of brokers and buy-sides that are already connected."
Ian Chilton, Chief Executive of Fidessa in Japan, adds: "Having provided our Japanese trading platform on an enterprise basis to larger domestic and international players for many years, we are now pleased to be able to offer a solution to the broader domestic market through our hosted service. It is a delight to announce Mito Securities as our first client for our hosted version, which demonstrates Fidessa's ability to support the domestic market here in Japan. Fidessa has carried out extensive product development to ensure that the trading platform meets the particular needs of the Japanese market, and is committed to doing so on an ongoing basis."
In the last year alone, Fidessa's global connectivity network has increased the number of connections by 50 per cent while message throughput has grown by over 200 per cent to more than 10 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 Mito Securities
Mito Securities was established in April 1922 and has maintained its independence through more than eight decades by developing a strong network of both individual and corporate customers mainly in the Kanto area surrounding Tokyo. The firm provides a wide range of securities brokerage and asset management services, including equities, investment trusts, bonds, individual private pension funds, REITs, ETFs and wrap accounts ("Mito Fund Wrap"). Headquartered in Tokyo, Mito Securities has 28 branch offices, employs more than 700 people, and is listed on the First Section of the Tokyo Stock Exchange. Additional information can be found at http://www.mito.co.jp/ (Japanese only)PDF (0.16 MB)