Leading Turkish investment house, IS Investment signs on to Fidessa’s global network
London, 1st 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 IS Investment, the investment banking arm of leading Turkish bank, Isbank, has joined its global connectivity network.
IS Investment is the largest investment house in Turkey and is ranked first in terms of transaction volumes on both the Istanbul Stock Exchange (ISE) and Turkish Derivatives Exchange (TurkDEX), executing approximately 60,000 futures and stock DMA orders every day. It will now extend its DMA services to a diverse community of investors and prime brokers across Fidessa's global network which provides access to over 300 brokers, 1,800 buy-side institutions and 100 markets globally.
Serkan Aran, Head of Cash and Futures Trading at IS Investment said: "We differentiate ourselves from the competition through innovation and initiating new products and services, and we are committed to being the forerunner in the development of Turkish capital markets. The role of electronic trading is set to expand significantly in Turkey, and our relationship with Fidessa will ensure that we will lead this trend, enabling us to offer our execution capabilities coupled with very strong expertise across the Turkish market to both buy-side and sell-side firms on that network. IS Investment and Fidessa are leaders in their respective sectors and we believe that the partnership between two such strong companies will offer qualitative and quantitative benefits to our customers."
Simon McDowell, Director of Connectivity at Fidessa, adds: "The collaboration between Fidessa and IS Investment extends the benefits of DMA execution on both the ISE and TurkDEX to the community of investors keen to take advantage of the Turkish capital markets' dynamics and potential. We continue to invest heavily in developing our global connectivity network and are delighted to welcome IS Investment. Its Turkish market expertise will be a great addition to the range of services we offer 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 grown by over 200 per cent 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 600 clients worldwide, and serves more than 85% of global, tier-one equity brokers.
About IS Investment
IS Investment was established as the investment banking arm of Isbank over a decade ago and is the leading financial institution in Turkey providing all kinds of investment banking services to local and foreign investors including brokerage services in all asset classes (domestic and international), investment advisory, asset management, corporate finance and research. It has equity stakes in Is Asset Management, Is Venture Capital, Is Investment Trust, Turkish Derivatives Exchange and Maxis Securities Ltd, a full subsidiary of IS Investment in London. As the only investment house traded on ISE (ISMEN), IS Investment represents around one third of the total assets in its sector and was granted with a national long term credit rating of 'AAA(tur)' with Stable Outlook by Fitch Ratings.
IS Investment, a FIX Protocol Limited member, is the first and the only investment house to offer DMA execution in TurkDEX (Turkish Derivatives Exchange) via FIX Message Routing System, executing around 60,000 DMA orders in ISE (Istanbul Stock Exchange) and TurkDEX every day. "Futures contracts versus cash basket" type of orders' execution available through IS Investment DMA services, creating a synergy between ISE and TurkDEX.PDF (0.08 MB)