Leading Czech broker, Patria Finance, signs on to Fidessa’s global network
London, 15th December 2008 - Fidessa group plc (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero trading, market data and global connectivity solutions, has today announced that Patria Finance, the largest broker in the Czech Republic, has joined its global connectivity network.
Patria Finance, a member of the pan-European KBC Securities Group, has the largest market share on the Prague stock exchange, and processes more orders than any other Czech broker. By joining the network, Patria will provide a significant local presence in central Europe for the community of more than 300 brokers and 1,800 buy-side institutions, which comprise Fidessa's global network.
Viktor Reischig, Senior Equity Trader at Patria Finance said: "We always look to differentiate ourselves from the competition through innovation and initiating new products and services, as befits our position as a leading investment bank in the central European region. We are experiencing a significant increase in demand for FIX connectivity to the emerging markets. Clients can use Patria as a hub to access not only the Czech Republic but also other CEE countries, such as Poland, Hungary and Slovakia. Fidessa's flexible technology, coupled with our local knowledge, makes ours a strong offering for our clients."
Simon McDowell, Director of Connectivity at Fidessa, adds: "Our work with Patria is a demonstration of our commitment to extending our presence in the emerging markets of central and eastern Europe. We continue to invest heavily in developing our global connectivity network and are delighted to welcome Patria. Their local expertise will be a great addition to the range of services the Fidessa network offers our clients."
In the last year alone, Fidessa's global connectivity network has increased the number of connections by 50 per cent while message throughput has more than doubled to over 130 million messages a month. The Fidessa product suite provides integrated trading, market data and connectivity solutions to over 22,000 users at around 520 clients worldwide, and serves more than 85 per cent of global, tier-one equity brokers.PDF (0.10 MB)